Kornitzer Capital Management Inc. KS trimmed its position in VF Corp (NYSE:VFC) by 45.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,161 shares of the textile maker’s stock after selling 132,109 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in VF were worth $14,077,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in VFC. Shine Investment Advisory Services Inc. purchased a new position in shares of VF during the 2nd quarter worth about $35,000. First Bank & Trust purchased a new position in shares of VF during the 2nd quarter worth about $41,000. Prime Capital Investment Advisors LLC lifted its holdings in shares of VF by 73.8% during the 1st 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 during the period. Flagship Harbor Advisors LLC lifted its holdings in shares of VF by 31.5% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 547 shares of the textile maker’s stock worth $47,000 after acquiring an additional 131 shares during the period. Finally, Meridian Wealth Management LLC purchased a new position in shares of VF during the 1st quarter worth about $53,000.
VFC has been the topic of several recent analyst reports. TheStreet lowered shares of VF from a “b+” rating to a “c” rating in a report on Wednesday, July 24th. Pivotal Research increased their price objective on shares of VF to $95.00 in a report on Monday, July 22nd. Cowen increased their target price on shares of VF from $90.00 to $100.00 and gave the stock a “positive” rating in a research report on Thursday, June 27th. Guggenheim reissued a “buy” rating and set a $95.00 target price (up previously from $90.00) on shares of VF in a research report on Thursday, May 23rd. Finally, UBS Group dropped their target price on shares of VF from $97.00 to $87.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. VF presently has an average rating of “Buy” and an average price target of $93.69.
In related news, CFO Scott A. Roe sold 10,000 shares of VF stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $88.39, for a total transaction of $883,900.00. Following the sale, the chief financial officer now directly 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 owned by insiders.
VFC traded down $2.29 during trading hours on Wednesday, hitting $80.49. 28,055 shares of the stock were exchanged, compared to its average volume of 1,956,436. The stock has a 50-day simple moving average of $86.34. VF Corp has a 12 month low of $67.18 and a 12 month high of $96.20. The firm has a market capitalization of $32.86 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 2.32 and a beta of 1.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 2.04.
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, beating 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 company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the business posted $0.43 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that VF Corp will post 3.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, September 10th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date 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.
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