Massachusetts Financial Services Co. MA Sells 15,747 Shares of VF Corp (NYSE:VFC)
Massachusetts Financial Services Co. MA decreased its position in VF Corp (NYSE:VFC) by 1.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,568,641 shares of the textile maker’s stock after selling 15,747 shares during the period. Massachusetts Financial Services Co. MA owned about 0.39% of VF worth $139,594,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VFC. Price T Rowe Associates Inc. MD lifted its stake in 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 valued at $507,020,000 after acquiring an additional 3,516,600 shares in the last quarter. Winslow Capital Management LLC bought a new stake in VF in the 2nd quarter valued at approximately $217,993,000. Nuveen Asset Management LLC lifted its stake in VF by 825.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,368,778 shares of the textile maker’s stock valued at $119,562,000 after acquiring an additional 1,220,833 shares in the last quarter. Bank of America Corp DE lifted its stake in 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 valued at $644,279,000 after acquiring an additional 1,045,204 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in VF by 24.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,535,402 shares of the textile maker’s stock valued at $306,517,000 after acquiring an additional 696,731 shares in the last quarter. Hedge funds and other institutional investors own 99.91% of the company’s stock.
Shares of VFC stock traded up $0.70 during trading on Thursday, reaching $86.46. 9,322 shares of the company’s stock were exchanged, compared to its average volume of 2,462,228. The company has a quick ratio of 1.20, a current ratio of 1.99 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $34.51 billion, a PE ratio of 22.90, a PEG ratio of 2.56 and a beta of 1.17. VF Corp has a twelve month low of $67.18 and a twelve month high of $96.20. The firm’s fifty day moving average price is $87.77 and its 200-day moving average price is $86.89.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, December 9th. This is a positive change from VF’s previous quarterly dividend of $0.43. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.22%. VF’s payout ratio is presently 45.50%.
In other VF news, VP Guerrini Martino Scabbia sold 17,000 shares of the company’s 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 transaction, the vice president now directly owns 140,616 shares of the company’s stock, valued at approximately $12,684,969.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Curtis A. Holtz sold 40,003 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $83.25, for a total value of $3,330,249.75. Following the completion of the transaction, the vice president now directly owns 64,803 shares in the company, valued at $5,394,849.75. The disclosure for this sale can be found here. Insiders have sold a total of 85,021 shares of company stock worth $7,194,376 over the last three months. 0.74% of the stock is owned by insiders.
A number of equities research analysts have recently issued reports on the company. TheStreet cut VF from a “b+” rating to a “c” rating in a research note on Wednesday, July 24th. Telsey Advisory Group reiterated an “outperform” rating and set a $106.00 price objective (up previously from $104.00) on shares of VF in a research note on Thursday, July 25th. Guggenheim reiterated a “buy” rating and set a $105.00 price objective on shares of VF in a research note on Friday, October 25th. Credit Suisse Group upped their price objective on VF from $104.00 to $116.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, Barclays assumed coverage on VF in a research note on Tuesday. They set an “overweight” rating and a $103.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. VF has a consensus rating of “Buy” and an average target price of $98.07.
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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