BB&T Corp boosted its position in shares of V.F. Corp. (NYSE:VFC) by 246.3% during the second quarter, Holdings Channel reports. The firm owned 327,890 shares of the company’s stock after buying an additional 233,202 shares during the period. BB&T Corp’s holdings in V.F. Corp. were worth $20,162,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Pictet Asset Management Ltd. increased its stake in V.F. Corp. by 12.6% in the first quarter. Pictet Asset Management Ltd. now owns 1,242,374 shares of the company’s stock worth $80,891,000 after buying an additional 139,242 shares during the period. Primecap Management Co. CA increased its stake in V.F. Corp. by 2.6% in the first quarter. Primecap Management Co. CA now owns 1,272,600 shares of the company’s stock worth $82,414,000 after buying an additional 32,000 shares during the period. Lazard Asset Management LLC increased its stake in V.F. Corp. by 110,339.0% in the first quarter. Lazard Asset Management LLC now owns 110,439 shares of the company’s stock worth $7,152,000 after buying an additional 110,339 shares during the period. Meeder Asset Management Inc. increased its stake in V.F. Corp. by 6,502.8% in the first quarter. Meeder Asset Management Inc. now owns 4,754 shares of the company’s stock worth $308,000 after buying an additional 4,682 shares during the period. Finally, State Street Corp increased its stake in V.F. Corp. by 18.3% in the first quarter. State Street Corp now owns 18,228,650 shares of the company’s stock worth $1,180,486,000 after buying an additional 2,813,937 shares during the period. 98.99% of the stock is owned by hedge funds and other institutional investors.
V.F. Corp. (NYSE:VFC) traded up 0.40% during midday trading on Wednesday, reaching $54.70. The company’s stock had a trading volume of 1,088,714 shares. V.F. Corp. has a 52-week low of $52.21 and a 52-week high of $73.81. The stock has a market capitalization of $22.69 billion, a price-to-earnings ratio of 21.64 and a beta of 0.90. The firm has a 50-day moving average price of $56.97 and a 200 day moving average price of $61.42.
V.F. Corp. (NYSE:VFC) last released its earnings results on Friday, July 22nd. The company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. V.F. Corp. had a net margin of 8.82% and a return on equity of 25.27%. The business earned $2.40 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter last year, the company earned $0.40 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. Equities research analysts predict that V.F. Corp. will post $3.20 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Friday, September 9th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Wednesday, September 7th. V.F. Corp.’s payout ratio is presently 58.73%.
A number of equities research analysts have issued reports on the company. DA Davidson reissued a “buy” rating and set a $79.00 price target on shares of V.F. Corp. in a research report on Monday, July 18th. B. Riley restated a “neutral” rating and set a $63.00 price objective on shares of V.F. Corp. in a research note on Wednesday, July 20th. Piper Jaffray Cos. restated a “buy” rating and set a $67.00 price objective on shares of V.F. Corp. in a research note on Friday, July 22nd. Zacks Investment Research cut V.F. Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 8th. Finally, Brean Capital restated a “hold” rating on shares of V.F. Corp. in a research note on Monday, July 25th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $67.62.
In other V.F. Corp. news, Director Clarence Otis, Jr. sold 25,540 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $62.12, for a total transaction of $1,586,544.80. Following the completion of the transaction, the director now owns 37,510 shares in the company, valued at $2,330,121.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric C. Wiseman sold 264,816 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $64.55, for a total transaction of $17,093,872.80. Following the transaction, the chief executive officer now owns 756,198 shares of the company’s stock, valued at approximately $48,812,580.90. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
V.F. Corp. Company Profile
V.F. Corporation (VF) is engaged in the design, manufacturing, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear, Sportswear, Contemporary Brands and Other. The Company owns a portfolio of brands in the outerwear, footwear, denim, backpack, luggage, accessory, sportswear, occupational and performance apparel categories.
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