Hollencrest Capital Management Reduces Stock Holdings in VF Corporation (NYSE:VFC)

Hollencrest Capital Management cut its position in VF Corporation (NYSE:VFC) by 50.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,000 shares of the textile maker’s stock after selling 2,000 shares during the quarter. Hollencrest Capital Management’s holdings in VF were worth $40,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. M&G Plc lifted its holdings in VF by 10.0% during the second quarter. M&G Plc now owns 14,729,396 shares of the textile maker’s stock valued at $206,212,000 after purchasing an additional 1,344,849 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of VF by 28.0% during the 2nd quarter. Pacer Advisors Inc. now owns 11,822,885 shares of the textile maker’s stock valued at $159,609,000 after buying an additional 2,589,852 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in VF by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,125,417 shares of the textile maker’s stock worth $55,694,000 after buying an additional 113,128 shares during the period. Deprince Race & Zollo Inc. grew its stake in VF by 28.3% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,057,884 shares of the textile maker’s stock valued at $41,281,000 after buying an additional 673,979 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in VF by 23.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,481,600 shares of the textile maker’s stock valued at $33,502,000 after acquiring an additional 473,373 shares during the period. Hedge funds and other institutional investors own 86.84% of the company’s stock.

VF Price Performance

Shares of NYSE VFC opened at $20.97 on Friday. The company’s 50-day moving average is $19.20 and its 200 day moving average is $16.09. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.30 and a quick ratio of 0.88. The stock has a market capitalization of $8.16 billion, a P/E ratio of -12.12, a P/E/G ratio of 7.94 and a beta of 1.52. VF Corporation has a 1 year low of $11.00 and a 1 year high of $23.09.

VF (NYSE:VFC) last issued its quarterly earnings results on Monday, October 28th. The textile maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.19. VF had a positive return on equity of 12.53% and a negative net margin of 6.68%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.72 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, sell-side analysts expect that VF Corporation will post 0.49 earnings per share for the current year.

VF Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Tuesday, December 10th. VF’s dividend payout ratio is -20.81%.

Analyst Ratings Changes

Several brokerages have recently weighed in on VFC. Telsey Advisory Group lifted their price target on VF from $19.00 to $21.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Wells Fargo & Company cut VF from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $16.00 to $15.00 in a research report on Monday, October 14th. TD Cowen raised their price objective on shares of VF from $16.00 to $19.00 and gave the company a “hold” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. increased their target price on shares of VF from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, Wedbush reiterated a “neutral” rating and issued a $13.00 price objective on shares of VF in a research report on Monday, August 5th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, VF has a consensus rating of “Hold” and an average target price of $18.19.

Insider Activity

In related news, Director Richard Carucci acquired 15,000 shares of VF stock in a transaction that occurred on Thursday, August 22nd. The stock was bought at an average price of $16.70 per share, with a total value of $250,500.00. Following the transaction, the director now directly owns 230,178 shares in the company, valued at approximately $3,843,972.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.70% of the company’s stock.

About VF

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.