Mechanics Bank Trust Department Takes $38,000 Position in VF Corp (NYSE:VFC)

Mechanics Bank Trust Department acquired a new stake in shares of VF Corp (NYSE:VFC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 425 shares of the textile maker’s stock, valued at approximately $38,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in VF by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 28,051,212 shares of the textile maker’s stock worth $2,450,273,000 after acquiring an additional 329,338 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of VF by 2.6% in the 2nd quarter. Wells Fargo & Company MN now owns 8,566,246 shares of the textile maker’s stock worth $748,262,000 after buying an additional 220,695 shares during the last quarter. Bank of America Corp DE lifted its position in shares of VF by 16.5% in the 2nd quarter. Bank of America Corp DE now owns 7,375,848 shares of the textile maker’s stock worth $644,279,000 after buying an additional 1,045,204 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of VF by 153.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,804,466 shares of the textile maker’s stock worth $507,020,000 after buying an additional 3,516,600 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of VF by 3.0% in the 2nd quarter. Northern Trust Corp now owns 5,442,874 shares of the textile maker’s stock worth $475,435,000 after buying an additional 158,809 shares during the last quarter.

VFC has been the topic of several recent research reports. Susquehanna Bancshares lifted their price objective on shares of VF from $105.00 to $119.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Wedbush restated an “outperform” rating and issued a $98.00 price objective on shares of VF in a research note on Friday. Credit Suisse Group boosted their price objective on shares of VF from $104.00 to $116.00 and gave the stock an “outperform” rating in a research note on Friday. TheStreet cut shares of VF from a “b+” rating to a “c” rating in a research note on Wednesday, July 24th. Finally, UBS Group boosted their price objective on shares of VF from $88.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 11th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $96.73.

In other news, VP Curtis A. Holtz sold 40,003 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $83.25, for a total transaction of $3,330,249.75. Following the transaction, the vice president now owns 64,803 shares of the company’s stock, valued at approximately $5,394,849.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Guerrini Martino Scabbia sold 17,000 shares of VF stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $90.21, for a total value of $1,533,570.00. Following the completion of the sale, the vice president now directly owns 140,616 shares of the company’s stock, valued at approximately $12,684,969.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,707 shares of company stock worth $6,306,230. 0.74% of the stock is owned by insiders.

VFC opened at $92.98 on Monday. The firm’s 50-day simple moving average is $87.74 and its 200-day simple moving average is $87.50. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.19 and a current ratio of 2.05. VF Corp has a twelve month low of $67.18 and a twelve month high of $96.20. The firm has a market cap of $36.45 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 2.57 and a beta of 1.19.

VF (NYSE:VFC) last posted its earnings results on Wednesday, July 24th. The textile maker reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. VF had a return on equity of 34.52% and a net margin of 8.62%. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the business earned $0.43 EPS. VF’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that VF Corp will post 3.37 EPS for the current fiscal year.

About VF

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.

Featured Article: Conference Calls

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.