V.F. (NYSE:VFC) Director Richard Carucci Buys 30,000 Shares

V.F. Corporation (NYSE:VFC) Director Richard Carucci bought 30,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were acquired at an average price of $17.17 per share, with a total value of $515,100.00. Following the completion of the acquisition, the director directly owned 336,043 shares in the company, valued at $5,769,858.31. This represents a 9.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

V.F. Price Performance

NYSE:VFC traded down $0.58 during mid-day trading on Wednesday, hitting $16.44. 4,772,666 shares of the company’s stock traded hands, compared to its average volume of 7,169,080. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.21 and a current ratio of 1.84. The firm’s 50 day simple moving average is $17.94 and its 200 day simple moving average is $18.42. V.F. Corporation has a 1 year low of $11.06 and a 1 year high of $22.27. The company has a market cap of $6.44 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.34 and a beta of 1.57.

V.F. (NYSE:VFC) last posted its earnings results on Wednesday, May 20th. The textile maker reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.28). V.F. had a net margin of 2.65% and a return on equity of 21.05%. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the business posted ($0.13) earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. Sell-side analysts expect that V.F. Corporation will post 1.1 EPS for the current year.

V.F. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Wednesday, June 10th will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, June 10th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.2%. V.F.’s payout ratio is 56.25%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Segall Bryant & Hamill LLC lifted its position in shares of V.F. by 43.4% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 4,938,084 shares of the textile maker’s stock worth $71,257,000 after buying an additional 1,495,148 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of V.F. by 14.0% in the 4th quarter. Russell Investments Group Ltd. now owns 659,773 shares of the textile maker’s stock worth $11,930,000 after acquiring an additional 81,006 shares during the period. Fiduciary Alliance LLC increased its holdings in shares of V.F. by 10.3% in the 4th quarter. Fiduciary Alliance LLC now owns 647,496 shares of the textile maker’s stock worth $11,707,000 after acquiring an additional 60,619 shares during the period. New York State Common Retirement Fund increased its holdings in shares of V.F. by 0.8% in the 4th quarter. New York State Common Retirement Fund now owns 540,861 shares of the textile maker’s stock worth $9,779,000 after acquiring an additional 4,249 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of V.F. in the 1st quarter worth about $3,209,000. 86.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VFC. Barclays lowered their target price on shares of V.F. from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Wells Fargo & Company cut their price objective on V.F. from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 21st. Citigroup initiated coverage on shares of V.F. in a report on Thursday, May 21st. They set a “neutral” rating and a $18.00 price target for the company. Argus raised shares of V.F. to a “strong-buy” rating in a report on Wednesday, February 11th. Finally, Truist Financial reduced their price objective on shares of V.F. from $18.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.58.

About V.F.

VF Corporation, commonly branded as VF, is a global apparel and footwear company that develops, markets and distributes a diverse portfolio of consumer brands. Its offerings span outdoor and action sports apparel, footwear and accessories under marquee names such as The North Face, Vans, Timberland, Dickies, JanSport and Smartwool. Through a “house of brands” strategy, VF leverages the unique heritage and design expertise of each label to serve distinct lifestyle and performance segments.

Founded in 1899 in Pennsylvania as the Reading Glove and Mitten Manufacturing Company, VF evolved through a series of acquisitions and strategic expansions to become a leading player in the global apparel industry.