State of New Jersey Common Pension Fund D Cuts Holdings in VF Corporation (NYSE:VFC)

State of New Jersey Common Pension Fund D cut its position in shares of VF Corporation (NYSE:VFC) by 25.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 154,472 shares of the textile maker’s stock after selling 52,199 shares during the period. State of New Jersey Common Pension Fund D’s holdings in VF were worth $2,085,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in VFC. Intech Investment Management LLC purchased a new position in shares of VF in the fourth quarter valued at $1,518,000. Principal Financial Group Inc. grew its position in VF by 328.0% in the second quarter. Principal Financial Group Inc. now owns 1,623,875 shares of the textile maker’s stock worth $21,922,000 after acquiring an additional 1,244,448 shares in the last quarter. Sompo Asset Management Co. Ltd. raised its holdings in VF by 60.6% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 351,520 shares of the textile maker’s stock valued at $6,609,000 after buying an additional 132,650 shares during the period. Compass Wealth Management LLC bought a new stake in shares of VF in the 1st quarter worth about $2,574,000. Finally, Virtu Financial LLC purchased a new position in shares of VF during the 4th quarter worth about $1,036,000. Hedge funds and other institutional investors own 86.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VFC. Wedbush reissued a “neutral” rating and set a $13.00 price target on shares of VF in a research note on Monday, August 5th. BMO Capital Markets upped their target price on shares of VF from $13.00 to $14.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Wells Fargo & Company increased their price target on VF from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Evercore ISI increased their target price 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. Finally, Telsey Advisory Group boosted their price target on VF from $15.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, VF currently has a consensus rating of “Hold” and an average price target of $16.19.

Insider Transactions at VF

In related news, Director Richard Carucci acquired 15,000 shares of VF stock in a transaction 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 purchase, the director now owns 230,178 shares of the company’s stock, valued at approximately $3,843,972.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.

VF Trading Up 0.1 %

NYSE VFC opened at $18.67 on Friday. The stock has a market cap of $7.26 billion, a P/E ratio of -7.47, a P/E/G ratio of 2.05 and a beta of 1.53. The company has a current ratio of 0.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.84. VF Corporation has a 12-month low of $11.00 and a 12-month high of $20.69. The company has a fifty day simple moving average of $17.15 and a two-hundred day simple moving average of $14.78.

VF (NYSE:VFC) last announced its quarterly earnings data on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.04. VF had a positive return on equity of 11.75% and a negative net margin of 11.39%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the company earned ($0.15) earnings per share. The company’s revenue was down 8.9% on a year-over-year basis. On average, analysts forecast that VF Corporation will post 0.73 earnings per share for the current year.

VF Dividend Announcement

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

VF 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.