V.F. Co. (NYSE:VFC) Stake Cut by Stewart & Patten Co. LLC

Stewart & Patten Co. LLC cut its position in shares of V.F. Co. (NYSE:VFC) by 47.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 189,316 shares of the textile maker’s stock after selling 171,295 shares during the period. Stewart & Patten Co. LLC’s holdings in V.F. were worth $2,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in VFC. Kestra Advisory Services LLC lifted its stake in V.F. by 4.7% in the third quarter. Kestra Advisory Services LLC now owns 19,391 shares of the textile maker’s stock valued at $343,000 after buying an additional 866 shares during the last quarter. FMR LLC lifted its stake in V.F. by 44.8% in the third quarter. FMR LLC now owns 2,768,318 shares of the textile maker’s stock valued at $48,916,000 after buying an additional 856,751 shares during the last quarter. LPL Financial LLC lifted its stake in V.F. by 15.2% in the third quarter. LPL Financial LLC now owns 341,501 shares of the textile maker’s stock valued at $6,034,000 after buying an additional 44,982 shares during the last quarter. Mariner LLC lifted its stake in V.F. by 32.0% in the third quarter. Mariner LLC now owns 58,360 shares of the textile maker’s stock valued at $1,031,000 after buying an additional 14,136 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in V.F. by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 153,537 shares of the textile maker’s stock valued at $2,713,000 after buying an additional 780 shares during the last quarter. 86.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Bracken Darrell purchased 75,200 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average price of $13.26 per share, with a total value of $997,152.00. Following the purchase, the insider now owns 219,972 shares of the company’s stock, valued at approximately $2,916,828.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other V.F. news, insider Bracken Darrell acquired 75,200 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was purchased at an average cost of $13.26 per share, for a total transaction of $997,152.00. Following the transaction, the insider now owns 219,972 shares of the company’s stock, valued at approximately $2,916,828.72. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard Carucci acquired 25,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were acquired at an average price of $13.78 per share, with a total value of $344,500.00. Following the completion of the transaction, the director now directly owns 215,130 shares in the company, valued at approximately $2,964,491.40. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on VFC. Citigroup cut their target price on V.F. from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, May 23rd. BNP Paribas restated a “neutral” rating and set a $14.00 price objective (down from $18.00) on shares of V.F. in a research note on Friday, April 12th. Wells Fargo & Company cut their price objective on shares of V.F. from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 23rd. TD Cowen cut their price objective on shares of V.F. from $14.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, May 23rd. Finally, Bank of America cut their price objective on shares of V.F. from $13.00 to $11.00 and set an “underperform” rating on the stock in a research note on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.06.

V.F. Price Performance

NYSE:VFC traded down $0.66 during mid-day trading on Monday, reaching $12.84. 8,254,810 shares of the stock were exchanged, compared to its average volume of 8,918,309. The business has a fifty day moving average price of $13.06 and a 200 day moving average price of $14.99. The firm has a market capitalization of $4.99 billion, a PE ratio of -5.13, a PEG ratio of 1.04 and a beta of 1.53. V.F. Co. has a 1-year low of $11.00 and a 1-year high of $21.17. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 2.84.

V.F. (NYSE:VFC) last issued its quarterly earnings results on Wednesday, May 22nd. The textile maker reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.34). The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.42 billion. V.F. had a positive return on equity of 13.14% and a negative net margin of 9.27%. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 EPS. Research analysts expect that V.F. Co. will post 0.85 earnings per share for the current fiscal year.

V.F. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Monday, June 10th were paid a $0.09 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.36 dividend on an annualized basis and a yield of 2.80%. V.F.’s dividend payout ratio is currently -14.40%.

V.F. Profile

V.F. Corporation, together with its subsidiaries, engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and accessories for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.