TD Asset Management Inc. decreased its stake in VF Corp (NYSE:VFC) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 656,571 shares of the textile maker’s stock after selling 19,968 shares during the period. TD Asset Management Inc. owned 0.17% of VF worth $57,351,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Shine Investment Advisory Services Inc. acquired a new stake in shares of VF in the second quarter valued at approximately $35,000. First Bank & Trust acquired a new stake in shares of VF in the second quarter valued at approximately $41,000. Prime Capital Investment Advisors LLC raised its position in shares of VF by 73.8% in the first quarter. Prime Capital Investment Advisors LLC now owns 478 shares of the textile maker’s stock valued at $42,000 after buying an additional 203 shares in the last quarter. Flagship Harbor Advisors LLC raised its position in shares of VF by 31.5% in the second quarter. Flagship Harbor Advisors LLC now owns 547 shares of the textile maker’s stock valued at $47,000 after buying an additional 131 shares in the last quarter. Finally, Meridian Wealth Management LLC acquired a new stake in shares of VF in the first quarter valued at approximately $53,000.
VFC has been the topic of a number of recent analyst reports. Goldman Sachs Group initiated coverage on shares of VF in a research note on Friday, May 17th. They issued a “buy” rating and a $97.00 price objective on the stock. Guggenheim reissued a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of VF in a research note on Thursday, May 23rd. UBS Group decreased their price objective on shares of VF from $97.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Telsey Advisory Group reissued an “outperform” rating and issued a $106.00 price objective (up from $104.00) on shares of VF in a research note on Thursday, July 25th. Finally, Canaccord Genuity set a $105.00 price objective on shares of VF and gave the company a “buy” rating in a research note on Thursday, May 23rd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $93.69.
VF (NYSE:VFC) last issued its quarterly earnings results on Wednesday, July 24th. The textile maker reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.24 billion. VF had a net margin of 8.62% and a return on equity of 34.52%. VF’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 earnings per share. Sell-side analysts anticipate that VF Corp will post 3.37 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.21%. VF’s dividend payout ratio (DPR) is presently 53.97%.
In other news, CFO Scott A. Roe sold 10,000 shares of VF stock in a transaction on Monday, July 29th. The shares were sold at an average price of $88.39, for a total transaction of $883,900.00. Following the transaction, the chief financial officer now owns 98,198 shares in the company, valued at $8,679,721.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.74% of the stock is currently owned by insiders.
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.
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