AQR Capital Management LLC Cuts Holdings in VF Corporation (NYSE:VFC)

AQR Capital Management LLC lessened its stake in VF Corporation (NYSE:VFC) by 84.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,137 shares of the textile maker’s stock after selling 659,345 shares during the period. AQR Capital Management LLC’s holdings in VF were worth $1,611,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Abich Financial Wealth Management LLC purchased a new stake in shares of VF in the 2nd quarter valued at $60,000. K2 Principal Fund L.P. boosted its stake in shares of VF by 853.1% in the 2nd quarter. K2 Principal Fund L.P. now owns 190,620 shares of the textile maker’s stock valued at $2,573,000 after purchasing an additional 170,620 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of VF by 127.6% in the 2nd quarter. Bank of Montreal Can now owns 62,046 shares of the textile maker’s stock valued at $878,000 after purchasing an additional 286,878 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of VF in the 2nd quarter valued at $226,000. Finally, Public Sector Pension Investment Board boosted its stake in shares of VF by 1,365.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 727,148 shares of the textile maker’s stock valued at $9,816,000 after purchasing an additional 677,519 shares in the last quarter. Hedge funds and other institutional investors own 86.84% of the company’s stock.

VF Stock Up 1.4 %

Shares of VF stock opened at $20.26 on Friday. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.99 and a quick ratio of 0.51. The company has a 50-day moving average of $18.10 and a 200 day moving average of $15.17. The firm has a market cap of $7.88 billion, a price-to-earnings ratio of -7.94, a PEG ratio of 2.44 and a beta of 1.53. VF Corporation has a 1 year low of $11.00 and a 1 year high of $21.40.

VF (NYSE:VFC) last issued its quarterly earnings results on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.04. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.85 billion. VF had a negative net margin of 11.39% and a positive return on equity of 11.75%. VF’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period last year, the business earned ($0.15) EPS. As a group, sell-side analysts anticipate that VF Corporation will post 0.72 earnings per share for the current fiscal year.

VF Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 10th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 10th. VF’s dividend payout ratio (DPR) is -14.40%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VFC. Argus raised shares of VF to a “hold” rating in a research note on Wednesday, August 28th. BMO Capital Markets upped their price target on shares of VF from $13.00 to $14.00 and gave the company a “market perform” 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 company a “neutral” rating in a report on Friday, August 16th. Evercore ISI upped their price target on shares of VF from $14.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird upped their price target on shares of VF from $13.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.41.

Insider Activity at VF

In other news, Director Richard Carucci acquired 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were bought at an average cost of $16.70 per share, with a total value of $250,500.00. Following the transaction, the director now owns 230,178 shares of the company’s stock, valued at $3,843,972.60. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by insiders.

About VF

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.