Victory Capital Management Inc. Increases Stock Position in VF Corporation (NYSE:VFC)

Victory Capital Management Inc. boosted its holdings in shares of VF Corporation (NYSE:VFC) by 22.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 73,513 shares of the textile maker’s stock after purchasing an additional 13,556 shares during the period. Victory Capital Management Inc.’s holdings in VF were worth $992,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Impact Partnership Wealth LLC increased its position in VF by 12,717.9% in the 2nd quarter. Impact Partnership Wealth LLC now owns 18,586 shares of the textile maker’s stock valued at $251,000 after acquiring an additional 18,441 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of VF by 183.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 80,187 shares of the textile maker’s stock worth $1,083,000 after purchasing an additional 51,947 shares during the last quarter. Rhumbline Advisers raised its stake in shares of VF by 40.6% during the second quarter. Rhumbline Advisers now owns 847,491 shares of the textile maker’s stock worth $11,441,000 after purchasing an additional 244,576 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of VF by 39.8% during the second quarter. Natixis Advisors LLC now owns 21,486 shares of the textile maker’s stock worth $290,000 after purchasing an additional 6,113 shares during the period. Finally, Summit Financial LLC purchased a new position in VF in the 2nd quarter valued at $137,000. 86.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at VF

In related news, Director Richard Carucci acquired 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were acquired at an average price of $16.70 per share, with a total value of $250,500.00. Following the completion of the purchase, the director now directly owns 230,178 shares in the company, valued at $3,843,972.60. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. TD Cowen raised their target price on shares of VF from $9.00 to $16.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. BMO Capital Markets raised their price objective on shares of VF from $13.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Citigroup upgraded VF from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $20.00 in a research report on Thursday, July 18th. Argus raised VF to a “hold” rating in a report on Wednesday, August 28th. Finally, Telsey Advisory Group upped their price objective on VF from $15.00 to $19.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, VF presently has an average rating of “Hold” and an average target price of $16.19.

VF Price Performance

Shares of NYSE VFC opened at $18.67 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.84. The company’s 50-day moving average price is $17.15 and its 200 day moving average price is $14.78. VF Corporation has a 52 week low of $11.00 and a 52 week high of $20.69. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of -7.47, a PEG ratio of 2.05 and a beta of 1.53.

VF (NYSE:VFC) last released its quarterly earnings results on Tuesday, August 6th. The textile maker reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.04. VF had a negative net margin of 11.39% and a positive return on equity of 11.75%. 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 business earned ($0.15) earnings per share. The company’s quarterly revenue was down 8.9% on a year-over-year basis. As a group, research analysts forecast that VF Corporation will post 0.73 earnings per share for the current fiscal year.

VF Announces Dividend

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

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.