Sumitomo Life Insurance Co. boosted its holdings in VF Corp (NYSE:VFC) by 3.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 13,065 shares of the textile maker’s stock after acquiring an additional 412 shares during the period. Sumitomo Life Insurance Co.’s holdings in VF were worth $1,141,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of VFC. Shine Investment Advisory Services Inc. acquired a new position in shares of VF in the 2nd quarter valued at approximately $35,000. Paragon Capital Management LLC acquired a new position in shares of VF in the 1st quarter valued at approximately $41,000. Prime Capital Investment Advisors LLC raised its position in shares of VF by 73.8% in the 1st quarter. Prime Capital Investment Advisors LLC now owns 478 shares of the textile maker’s stock valued at $42,000 after buying an additional 203 shares in the last quarter. Flagship Harbor Advisors LLC raised its position in shares of VF by 31.5% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 547 shares of the textile maker’s stock valued at $47,000 after buying an additional 131 shares in the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in shares of VF in the 1st quarter valued at approximately $53,000.
In related news, CFO Scott A. Roe sold 10,000 shares of VF stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $8,679,721.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.74% of the company’s stock.
Shares of VF stock traded up $1.19 during midday trading on Thursday, hitting $82.92. 21,756 shares of the company traded hands, compared to its average volume of 1,791,739. The stock has a market capitalization of $31.96 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 2.26 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. The business has a fifty day simple moving average of $87.02. VF Corp has a 12 month low of $67.18 and a 12 month high of $97.00.
VF (NYSE:VFC) last announced its quarterly earnings results on Wednesday, July 24th. The textile maker reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.02. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.24 billion. VF had a net margin of 8.62% and a return on equity of 34.52%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 EPS. As a group, equities research analysts predict that VF Corp will post 3.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, September 10th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Monday, September 9th. VF’s dividend payout ratio (DPR) is presently 53.97%.
Several equities analysts have recently commented on VFC shares. Goldman Sachs Group started coverage on shares of VF in a research report on Friday, May 17th. They issued a “buy” rating and a $97.00 target price for the company. Canaccord Genuity set a $105.00 target price on shares of VF and gave the company a “buy” rating in a research report on Thursday, May 23rd. Guggenheim restated a “buy” rating and issued a $95.00 target price (up from $90.00) on shares of VF in a research report on Thursday, May 23rd. Telsey Advisory Group restated an “outperform” rating and issued a $106.00 target price (up from $104.00) on shares of VF in a research report on Thursday, July 25th. Finally, Pivotal Research boosted their target price on shares of VF to $95.00 in a research report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $93.69.
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.
Recommended Story: G-20
Want to see what other hedge funds are holding VFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VF Corp (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.