VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $2.46 Million Investment in V.F. Corporation $VFC

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in V.F. Corporation (NYSE:VFC) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 147,300 shares of the textile maker’s stock, valued at approximately $2,457,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC boosted its position in shares of V.F. by 27.9% during the 1st quarter. Parallel Advisors LLC now owns 2,694 shares of the textile maker’s stock valued at $46,000 after purchasing an additional 588 shares in the last quarter. Root Financial Partners LLC increased its holdings in V.F. by 282.9% in the first quarter. Root Financial Partners LLC now owns 3,052 shares of the textile maker’s stock worth $52,000 after purchasing an additional 2,255 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in V.F. by 151.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 6,915 shares of the textile maker’s stock valued at $125,000 after buying an additional 4,167 shares during the period. Versant Capital Management Inc lifted its stake in V.F. by 213.7% in the second quarter. Versant Capital Management Inc now owns 8,078 shares of the textile maker’s stock valued at $135,000 after buying an additional 5,503 shares during the period. Finally, Nykredit A S bought a new position in shares of V.F. during the 2nd quarter worth approximately $179,000. 86.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at V.F.

In related news, insider Bracken Darrell purchased 32,894 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average price of $14.98 per share, for a total transaction of $492,752.12. Following the completion of the acquisition, the insider owned 1,402,109 shares of the company’s stock, valued at $21,003,592.82. This represents a 2.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Carucci purchased 20,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average cost of $14.73 per share, with a total value of $294,600.00. Following the completion of the transaction, the director directly owned 356,215 shares in the company, valued at $5,247,046.95. The trade was a 5.95% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 1.54% of the company’s stock.

V.F. Stock Performance

VFC opened at $12.60 on Friday. V.F. Corporation has a 1-year low of $12.45 and a 1-year high of $22.27. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 0.93 and a beta of 1.57. The company’s fifty day moving average price is $15.13 and its two-hundred day moving average price is $16.78. The company has a current ratio of 1.43, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70.

V.F. (NYSE:VFC) last issued its quarterly earnings data on Wednesday, July 29th. The textile maker reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). V.F. had a net margin of 2.88% and a return on equity of 18.91%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the business earned ($0.24) earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, analysts expect that V.F. Corporation will post 1.07 EPS for the current fiscal year.

V.F. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 10th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.36 annualized dividend and a dividend yield of 2.9%. V.F.’s dividend payout ratio is 52.17%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on VFC shares. Wells Fargo & Company reduced their price objective on shares of V.F. from $18.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. UBS Group dropped their target price on shares of V.F. from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Truist Financial cut their target price on shares of V.F. from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, July 30th. Citigroup initiated coverage on shares of V.F. in a report on Thursday, May 21st. They issued a “neutral” rating and a $18.00 price target for the company. Finally, Stifel Nicolaus decreased their price target on shares of V.F. from $19.00 to $17.00 and set a “hold” rating for the company in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, V.F. currently has an average rating of “Hold” and an average target price of $18.21.

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.