Zurcher Kantonalbank Zurich Cantonalbank Purchases 11,799 Shares of V.F. Co. (NYSE:VFC)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in V.F. Co. (NYSE:VFC) by 21.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,645 shares of the textile maker’s stock after purchasing an additional 11,799 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in V.F. were worth $900,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. M&G Plc bought a new position in V.F. in the 1st quarter valued at approximately $200,768,000. Norges Bank acquired a new position in V.F. in the 4th quarter valued at approximately $76,059,000. Jackson Square Partners LLC bought a new position in shares of V.F. during the fourth quarter valued at $46,646,000. M&G Investment Management Ltd. lifted its holdings in shares of V.F. by 19.4% during the fourth quarter. M&G Investment Management Ltd. now owns 12,413,169 shares of the textile maker’s stock worth $235,850,000 after purchasing an additional 2,016,470 shares during the period. Finally, Capital World Investors bought a new stake in shares of V.F. in the first quarter worth $30,527,000. 86.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VFC has been the subject of several analyst reports. Telsey Advisory Group raised their target price on V.F. from $15.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Bank of America reduced their target price on V.F. from $13.00 to $11.00 and set an “underperform” rating on the stock in a report on Thursday, May 23rd. Robert W. Baird raised their price target on shares of V.F. from $13.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. TD Cowen upped their price objective on shares of V.F. from $9.00 to $16.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. Finally, Evercore ISI lifted their target price on shares of V.F. from $14.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, V.F. has a consensus rating of “Hold” and a consensus target price of $15.50.

V.F. Price Performance

Shares of NYSE:VFC opened at $18.83 on Wednesday. V.F. Co. has a twelve month low of $11.00 and a twelve month high of $20.69. The stock’s 50 day moving average is $15.89 and its 200-day moving average is $14.57. The company has a quick ratio of 0.51, a current ratio of 0.99 and a debt-to-equity ratio of 2.84. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of -7.53, a PEG ratio of 1.88 and a beta of 1.53.

V.F. (NYSE:VFC) last released its quarterly earnings data on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.04. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.85 billion. V.F. had a negative net margin of 11.39% and a positive return on equity of 11.75%. The business’s revenue was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.15) earnings per share. Sell-side analysts forecast that V.F. Co. will post 0.79 EPS for the current fiscal year.

V.F. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Tuesday, September 10th. V.F.’s dividend payout ratio is currently -14.40%.

Insider Transactions at V.F.

In related news, Director Richard Carucci purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was acquired at an average price of $16.70 per share, for a total transaction of $250,500.00. Following the completion of the acquisition, the director now owns 230,178 shares of the company’s stock, valued at approximately $3,843,972.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Bracken Darrell purchased 75,200 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average cost of $13.26 per share, for a total transaction of $997,152.00. Following the completion of the acquisition, the insider now owns 219,972 shares in the company, valued at $2,916,828.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Carucci acquired 15,000 shares of V.F. stock in a transaction on Thursday, August 22nd. The stock was purchased at an average cost of $16.70 per share, with a total value of $250,500.00. Following the completion of the transaction, the director now directly owns 230,178 shares in the company, valued at approximately $3,843,972.60. The disclosure for this purchase can be found here. Insiders purchased a total of 115,200 shares of company stock valued at $1,592,152 over the last ninety days. 0.70% of the stock is currently owned by insiders.

V.F. Profile

V.F. Corporation, together with its subsidiaries, engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and accessories for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.