Texas Permanent School Fund Corp Increases Position in VF Corporation (NYSE:VFC)

Texas Permanent School Fund Corp boosted its position in VF Corporation (NYSE:VFC) by 262.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 247,368 shares of the textile maker’s stock after purchasing an additional 179,138 shares during the period. Texas Permanent School Fund Corp owned about 0.06% of VF worth $3,339,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Mather Group LLC. purchased a new position in VF in the first quarter valued at approximately $27,000. Future Financial Wealth Managment LLC purchased a new stake in shares of VF during the first quarter worth $31,000. Bank & Trust Co purchased a new stake in shares of VF during the second quarter worth $35,000. Versant Capital Management Inc lifted its position in shares of VF by 6,981.1% during the second quarter. Versant Capital Management Inc now owns 2,620 shares of the textile maker’s stock worth $35,000 after acquiring an additional 2,583 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of VF during the first quarter worth $39,000. Hedge funds and other institutional investors own 86.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Argus upgraded VF to a “hold” rating in a research report on Wednesday, August 28th. Evercore ISI upped their price target on shares of VF from $14.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 7th. UBS Group upped their price target on shares of VF from $12.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. The Goldman Sachs Group decreased their price target on shares of VF from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, May 23rd. Finally, BMO Capital Markets upped their price target on shares of VF from $13.00 to $14.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.56.

VF Stock Performance

NYSE:VFC opened at $18.70 on Friday. The stock has a market cap of $7.28 billion, a P/E ratio of -7.48, a price-to-earnings-growth ratio of 1.94 and a beta of 1.53. The firm’s fifty day simple moving average is $16.62 and its 200 day simple moving average is $14.68. VF Corporation has a twelve month low of $11.00 and a twelve month high of $20.69. The company has a quick ratio of 0.51, a current ratio of 0.99 and a debt-to-equity ratio of 2.84.

VF (NYSE:VFC) last released its quarterly earnings results on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.04. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.85 billion. VF had a negative net margin of 11.39% and a positive return on equity of 11.75%. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.15) earnings per share. As a group, research analysts predict that VF Corporation will post 0.73 EPS for the current year.

VF Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 10th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, September 10th. VF’s dividend payout ratio (DPR) is -14.40%.

Insiders Place Their Bets

In other VF news, Director Richard Carucci purchased 15,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were purchased at an average cost of $16.70 per share, with a total value of $250,500.00. Following the completion of the acquisition, the director now directly owns 230,178 shares in the company, valued at approximately $3,843,972.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.70% of the company’s stock.

VF Company 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.