Federated Hermes Inc. Sells 6,229 Shares of VF Corporation (NYSE:VFC)

Federated Hermes Inc. cut its stake in shares of VF Corporation (NYSE:VFC) by 9.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,484 shares of the textile maker’s stock after selling 6,229 shares during the quarter. Federated Hermes Inc.’s holdings in VF were worth $763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC increased its position in shares of VF by 8.9% during the 2nd quarter. V Square Quantitative Management LLC now owns 10,803 shares of the textile maker’s stock valued at $146,000 after purchasing an additional 879 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in VF by 50.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,681 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 895 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of VF by 0.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 106,281 shares of the textile maker’s stock worth $1,630,000 after acquiring an additional 959 shares in the last quarter. Royal London Asset Management Ltd. lifted its holdings in shares of VF by 0.8% in the 4th quarter. Royal London Asset Management Ltd. now owns 137,480 shares of the textile maker’s stock worth $2,585,000 after acquiring an additional 1,079 shares during the last quarter. Finally, Partnership Wealth Management LLC boosted its stake in shares of VF by 0.7% in the 1st quarter. Partnership Wealth Management LLC now owns 158,634 shares of the textile maker’s stock valued at $2,433,000 after purchasing an additional 1,170 shares in the last quarter. Hedge funds and other institutional investors own 86.84% of the company’s stock.

Insider Activity

In other VF 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 bought at an average cost of $16.70 per share, for a total transaction of $250,500.00. Following the purchase, the director now directly owns 230,178 shares in the company, valued at $3,843,972.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.

VF Price Performance

Shares of NYSE VFC opened at $18.65 on Monday. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.99 and a quick ratio of 0.51. VF Corporation has a 1 year low of $11.00 and a 1 year high of $20.69. The company’s 50-day moving average is $17.15 and its 200 day moving average is $14.76. The stock has a market capitalization of $7.26 billion, a P/E ratio of -7.46, a P/E/G ratio of 2.05 and a beta of 1.53.

VF (NYSE:VFC) last posted its earnings results on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share for the quarter, topping 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 firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the business earned ($0.15) EPS. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, sell-side analysts expect that VF Corporation will post 0.73 earnings per share for the current year.

VF Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders 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 1.93%. The ex-dividend date of this dividend was Tuesday, September 10th. VF’s dividend payout ratio is currently -14.40%.

Analyst Upgrades and Downgrades

VFC has been the subject of several recent research reports. Robert W. Baird boosted their price target on shares of VF from $13.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. dropped their target price on VF from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Wells Fargo & Company lifted their price target on VF from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. TD Cowen increased their price objective on VF from $9.00 to $16.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. Finally, Argus raised shares of VF to a “hold” rating in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.19.

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.