Prudential Financial Inc. Trims Position in VF Corp (VFC)
Prudential Financial Inc. cut its position in shares of VF Corp (NYSE:VFC) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,287,253 shares of the textile maker’s stock after selling 31,940 shares during the quarter. Prudential Financial Inc. owned 0.32% of VF worth $120,293,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Candriam Luxembourg S.C.A. raised its holdings in VF by 99.7% during the third quarter. Candriam Luxembourg S.C.A. now owns 81,959 shares of the textile maker’s stock worth $7,659,000 after purchasing an additional 40,913 shares during the last quarter. Associated Banc Corp acquired a new position in VF during the third quarter worth $219,000. Biondo Investment Advisors LLC raised its holdings in VF by 1.1% during the third quarter. Biondo Investment Advisors LLC now owns 98,914 shares of the textile maker’s stock worth $9,243,000 after purchasing an additional 1,071 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in VF by 13.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 74,308 shares of the textile maker’s stock worth $6,944,000 after purchasing an additional 8,910 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in VF by 3.2% during the third quarter. Toronto Dominion Bank now owns 243,896 shares of the textile maker’s stock worth $22,786,000 after purchasing an additional 7,536 shares during the last quarter.
VFC has been the subject of several recent research reports. Canaccord Genuity reissued a “buy” rating and set a $108.00 price target on shares of VF in a research report on Monday, August 13th. Royal Bank of Canada reissued a “buy” rating and set a $105.00 price target on shares of VF in a research report on Thursday, July 26th. Telsey Advisory Group raised their price target on VF from $86.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, July 23rd. Cowen reissued a “hold” rating and set a $94.00 price target on shares of VF in a research report on Friday, July 20th. Finally, Citigroup raised their price target on VF from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, July 23rd. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $95.17.
VF (NYSE:VFC) last announced its quarterly earnings data on Friday, October 19th. The textile maker reported $1.43 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.10. The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.87 billion. VF had a return on equity of 37.08% and a net margin of 6.20%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 earnings per share. On average, research analysts anticipate that VF Corp will post 3.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Monday, December 10th will be given a $0.51 dividend. The ex-dividend date is Friday, December 7th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.43%. This is an increase from VF’s previous quarterly dividend of $0.46. VF’s payout ratio is currently 61.74%.
In other news, VP Kevin Bailey sold 4,400 shares of VF stock in a transaction on Monday, August 27th. The stock was sold at an average price of $91.95, for a total value of $404,580.00. Following the completion of the sale, the vice president now owns 28,861 shares of the company’s stock, valued at $2,653,768.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard Carucci acquired 5,000 shares of the stock in a transaction dated Wednesday, October 24th. The stock was acquired at an average cost of $78.65 per share, with a total value of $393,250.00. Following the transaction, the director now owns 48,190 shares of the company’s stock, valued at $3,790,143.50. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 59,176 shares of company stock valued at $5,478,371. Company insiders own 1.72% of the company’s stock.
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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