Westpac Banking Corp Purchases 8,700 Shares of VF Corp (NYSE:VFC)

Westpac Banking Corp increased its position in shares of VF Corp (NYSE:VFC) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,699 shares of the textile maker’s stock after purchasing an additional 8,700 shares during the quarter. Westpac Banking Corp’s holdings in VF were worth $8,621,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Shine Investment Advisory Services Inc. acquired a new position in VF during the second quarter worth about $35,000. First Bank & Trust acquired a new position in VF during the second quarter worth about $41,000. Prime Capital Investment Advisors LLC raised its stake in VF by 73.8% during the first quarter. Prime Capital Investment Advisors LLC now owns 478 shares of the textile maker’s stock worth $42,000 after acquiring an additional 203 shares in the last quarter. Flagship Harbor Advisors LLC raised its stake in VF by 31.5% during the second quarter. Flagship Harbor Advisors LLC now owns 547 shares of the textile maker’s stock worth $47,000 after acquiring an additional 131 shares in the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in VF during the first quarter worth about $53,000.

In other news, CFO Scott A. Roe sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $88.39, for a total value of $883,900.00. Following the completion of the transaction, the chief financial officer now owns 98,198 shares of the company’s stock, valued at $8,679,721.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.74% of the company’s stock.



VFC has been the subject of several research analyst reports. Goldman Sachs Group initiated coverage on VF in a research note on Friday, May 17th. They set a “buy” rating and a $97.00 target price for the company. TheStreet downgraded VF from a “b+” rating to a “c” rating in a research note on Wednesday, July 24th. Canaccord Genuity set a $105.00 target price on VF and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Pivotal Research boosted their target price on VF to $95.00 in a research note on Monday, July 22nd. Finally, UBS Group lowered their target price on VF from $97.00 to $87.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $93.69.

Shares of VF stock traded down $0.90 on Thursday, hitting $78.50. The stock had a trading volume of 11,349 shares, compared to its average volume of 1,860,452. The company has a 50 day moving average of $86.23. VF Corp has a twelve month low of $67.18 and a twelve month high of $96.20. The company has a quick ratio of 1.20, a current ratio of 2.04 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $32.62 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 2.30 and a beta of 1.15.

VF (NYSE:VFC) last released its quarterly earnings data on Wednesday, July 24th. The textile maker reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.02. VF had a return on equity of 34.52% and a net margin of 8.62%. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that VF Corp will post 3.37 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, September 9th. VF’s dividend payout ratio is currently 53.97%.

VF Company Profile

V.F. Corporation engages in the design, production, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia Pacific. It operates through four segments: Outdoor & Action Sports, Jeanswear, Imagewear, and Other.

See Also: What is a Call Option?

Want to see what other hedge funds are holding VFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VF Corp (NYSE:VFC).

Institutional Ownership by Quarter for VF (NYSE:VFC)

Receive News & Ratings for VF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VF and related companies with MarketBeat.com's FREE daily email newsletter.