Pioneer Investment Management Inc. Holds Position in V.F. Corporation (NYSE:VFC)
Pioneer Investment Management Inc. held its stake in shares of V.F. Corporation (NYSE:VFC) during the second quarter, Holdings Channel reports. The institutional investor owned 340,490 shares of the textile maker’s stock at the end of the second quarter. Pioneer Investment Management Inc.’s holdings in V.F. Corporation were worth $19,612,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in VFC. Pinnacle Bank purchased a new stake in shares of V.F. Corporation during the first quarter valued at $247,000. Edmp Inc. purchased a new stake in shares of V.F. Corporation during the first quarter valued at $2,894,000. PGGM Investments purchased a new stake in shares of V.F. Corporation during the first quarter valued at $11,656,000. Lowe Brockenbrough & Co. Inc. raised its stake in shares of V.F. Corporation by 35.2% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 29,400 shares of the textile maker’s stock valued at $1,616,000 after buying an additional 7,655 shares during the last quarter. Finally, Dean Investment Associates LLC raised its stake in shares of V.F. Corporation by 55.7% in the first quarter. Dean Investment Associates LLC now owns 17,110 shares of the textile maker’s stock valued at $941,000 after buying an additional 6,120 shares during the last quarter.
V.F. Corporation (NYSE:VFC) opened at 61.24 on Friday. The company has a market cap of $24.11 billion, a P/E ratio of 23.37 and a beta of 0.78. V.F. Corporation has a 12 month low of $48.05 and a 12 month high of $65.20. The firm has a 50-day moving average price of $58.78 and a 200 day moving average price of $54.85.
V.F. Corporation (NYSE:VFC) last issued its earnings results on Monday, July 24th. The textile maker reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. V.F. Corporation had a return on equity of 27.44% and a net margin of 9.23%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. On average, equities analysts expect that V.F. Corporation will post $2.96 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Thursday, September 7th. V.F. Corporation’s dividend payout ratio is presently 64.86%.
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VFC has been the topic of several recent research reports. Stifel Nicolaus reissued a “hold” rating and set a $56.00 price objective on shares of V.F. Corporation in a report on Sunday, April 23rd. Canaccord Genuity reissued a “hold” rating and set a $53.00 price objective on shares of V.F. Corporation in a report on Friday, May 26th. Macquarie reissued an “outperform” rating and set a $70.00 price objective (up previously from $69.00) on shares of V.F. Corporation in a report on Tuesday, July 25th. Vetr lowered V.F. Corporation from a “sell” rating to a “strong sell” rating and set a $49.00 price objective on the stock. in a report on Tuesday, April 18th. Finally, TheStreet raised V.F. Corporation from a “c+” rating to a “b-” rating in a report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $58.50.
About V.F. Corporation
V.F. Corporation (VF) is engaged in the design, production, procurement, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear and Sportswear. Its Outdoor & Action Sports Coalition is a group of authentic outdoor and activity-based lifestyle brands.
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