B. Riley Wealth Management Inc. purchased a new stake in VF Corp (NYSE:VFC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 18,244 shares of the textile maker’s stock, valued at approximately $1,705,000.
Several other institutional investors have also recently bought and sold shares of VFC. Charles Schwab Investment Advisory Inc. bought a new position in shares of VF during the 2nd quarter worth approximately $352,007,000. Waddell & Reed Financial Inc. lifted its position in shares of VF by 1,233.7% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 3,008,805 shares of the textile maker’s stock worth $245,278,000 after buying an additional 2,783,208 shares in the last quarter. BlackRock Inc. lifted its position in shares of VF by 9.6% during the 2nd quarter. BlackRock Inc. now owns 24,770,077 shares of the textile maker’s stock worth $2,019,258,000 after buying an additional 2,179,165 shares in the last quarter. FMR LLC lifted its position in shares of VF by 58.2% during the 3rd quarter. FMR LLC now owns 5,482,244 shares of the textile maker’s stock worth $512,315,000 after buying an additional 2,016,128 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of VF by 89.6% during the 2nd quarter. Janus Henderson Group PLC now owns 3,479,346 shares of the textile maker’s stock worth $283,640,000 after buying an additional 1,644,062 shares in the last quarter. 83.60% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Richard Carucci purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, October 24th. The stock was bought at an average price of $78.65 per share, for a total transaction of $393,250.00. Following the purchase, the director now directly owns 48,190 shares in the company, valued at approximately $3,790,143.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.72% of the company’s stock.
Several research firms have commented on VFC. Cowen raised shares of VF from a “market perform” rating to a “buy” rating and lifted their target price for the stock from $96.00 to $106.00 in a research report on Friday, September 14th. Bank of America set a $105.00 target price on shares of VF and gave the stock a “buy” rating in a research report on Thursday, September 13th. Buckingham Research dropped their target price on shares of VF from $89.00 to $86.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 17th. Wedbush began coverage on shares of VF in a research report on Monday, October 15th. They set a “neutral” rating and a $94.00 target price on the stock. They noted that the move was a valuation call. Finally, Pivotal Research set a $90.00 target price on shares of VF and gave the stock a “hold” rating in a research report on Monday, October 15th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. VF presently has an average rating of “Buy” and an average price target of $95.17.
Shares of VFC stock opened at $73.05 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.54 and a debt-to-equity ratio of 0.51. VF Corp has a 12-month low of $72.08 and a 12-month high of $97.00. The company has a market cap of $29.82 billion, a PE ratio of 24.51, a P/E/G ratio of 1.81 and a beta of 0.98.
VF (NYSE:VFC) last issued its quarterly earnings results on Friday, October 19th. The textile maker reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.10. VF had a net margin of 6.20% and a return on equity of 37.08%. The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the business posted $1.23 EPS. VF’s quarterly revenue was up 15.2% compared to the same quarter last year. Equities analysts forecast that VF Corp will post 3.72 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Monday, December 10th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, December 7th. This represents a $2.04 annualized dividend and a dividend yield of 2.79%. This is a positive change from VF’s previous quarterly dividend of $0.46. VF’s dividend payout ratio (DPR) is presently 68.46%.
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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.
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