Public Sector Pension Investment Board Buys 677,519 Shares of VF Corporation (NYSE:VFC)

Public Sector Pension Investment Board grew its position in VF Corporation (NYSE:VFC) by 1,365.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 727,148 shares of the textile maker’s stock after purchasing an additional 677,519 shares during the quarter. Public Sector Pension Investment Board owned about 0.19% of VF worth $9,816,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Legacy Financial Advisors Inc. bought a new position in VF during the 2nd quarter worth $158,000. Thrivent Financial for Lutherans lifted its position in shares of VF by 3,350.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 486,082 shares of the textile maker’s stock valued at $6,562,000 after acquiring an additional 471,993 shares during the period. Sei Investments Co. grew its holdings in shares of VF by 26.7% during the 2nd quarter. Sei Investments Co. now owns 207,120 shares of the textile maker’s stock worth $2,796,000 after purchasing an additional 43,697 shares in the last quarter. Pacer Advisors Inc. raised its stake in VF by 28.0% in the second quarter. Pacer Advisors Inc. now owns 11,822,885 shares of the textile maker’s stock valued at $159,609,000 after purchasing an additional 2,589,852 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in VF by 14.7% during the second quarter. Hsbc Holdings PLC now owns 415,433 shares of the textile maker’s stock worth $5,579,000 after purchasing an additional 53,133 shares during the period. Institutional investors own 86.84% of the company’s stock.

VF Price Performance

Shares of NYSE:VFC opened at $18.35 on Tuesday. VF Corporation has a twelve month low of $11.00 and a twelve month high of $20.69. The stock’s 50 day moving average is $17.25 and its 200-day moving average is $14.78. The company has a quick ratio of 0.51, a current ratio of 0.99 and a debt-to-equity ratio of 2.84. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of -7.34, a PEG ratio of 2.05 and a beta of 1.53.

VF (NYSE:VFC) last released 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. 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%. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.15) earnings per share. Sell-side analysts forecast that VF Corporation will post 0.73 EPS for the current fiscal 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 issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Tuesday, September 10th. VF’s dividend payout ratio is -14.40%.

Wall Street Analysts Forecast Growth

VFC has been the subject of a number of recent analyst reports. Argus raised shares of VF to a “hold” rating in a report on Wednesday, August 28th. Evercore ISI raised their price target on shares of VF from $14.00 to $16.00 and gave the company an “in-line” rating in a research note on Wednesday, August 7th. Wells Fargo & Company upped their price objective on shares of VF from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Robert W. Baird raised their target price on shares of VF from $13.00 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, StockNews.com raised VF from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.19.

Insider Transactions at VF

In other news, Director Richard Carucci bought 15,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were purchased at an average price of $16.70 per share, with a total value of $250,500.00. Following the transaction, the director now directly owns 230,178 shares in the company, valued at $3,843,972.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

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.