VF Corporation (NYSE:VFC) Shares Bought by K2 Principal Fund L.P.

K2 Principal Fund L.P. raised its stake in VF Corporation (NYSE:VFC) by 853.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 190,620 shares of the textile maker’s stock after purchasing an additional 170,620 shares during the quarter. K2 Principal Fund L.P.’s holdings in VF were worth $2,573,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Mather Group LLC. purchased a new position in VF during the first quarter worth about $27,000. Future Financial Wealth Managment LLC purchased a new stake in shares of VF in the first quarter valued at approximately $31,000. Bank & Trust Co acquired a new position in VF during the second quarter worth $35,000. Versant Capital Management Inc raised its position in VF by 6,981.1% in 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 acquired a new stake in VF in the first quarter valued at $39,000. Institutional investors and hedge funds own 86.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on VFC shares. Argus raised shares of VF to a “hold” rating in a research note on Wednesday, August 28th. Wedbush reaffirmed a “neutral” rating and issued a $13.00 target price on shares of VF in a report on Monday, August 5th. TD Cowen lifted their price target on shares of VF from $9.00 to $16.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. StockNews.com upgraded VF from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company lifted their price objective on VF from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, VF has a consensus rating of “Hold” and an average target price of $16.19.

Insiders Place Their Bets

In related news, Director Richard Carucci acquired 15,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were acquired at an average cost of $16.70 per share, for a total transaction of $250,500.00. Following the acquisition, the director now directly owns 230,178 shares in the company, valued at approximately $3,843,972.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.70% of the stock is owned by corporate insiders.

VF Price Performance

VF stock opened at $18.35 on Tuesday. The stock has a market capitalization of $7.14 billion, a P/E ratio of -7.34, a P/E/G ratio of 2.05 and a beta of 1.53. VF Corporation has a 12-month low of $11.00 and a 12-month high of $20.69. 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 firm’s 50-day moving average is $17.25 and its two-hundred day moving average is $14.78.

VF (NYSE:VFC) last announced its earnings results on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.04. The firm had revenue of $1.90 billion for 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 revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.15) earnings per share. Equities analysts predict that VF Corporation will post 0.73 earnings per share for the current year.

VF Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.36 annualized dividend and a yield of 1.96%. VF’s dividend payout ratio (DPR) is presently -14.40%.

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.