Northwestern Mutual Wealth Management Co. Trims Stock Position in VF Corporation (NYSE:VFC)

Northwestern Mutual Wealth Management Co. cut its stake in VF Corporation (NYSE:VFC) by 18.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,628 shares of the textile maker’s stock after selling 6,654 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in VF were worth $400,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. M&G Plc raised its stake in VF by 10.0% in the second quarter. M&G Plc now owns 14,729,396 shares of the textile maker’s stock worth $206,212,000 after buying an additional 1,344,849 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of VF by 28.0% in the 2nd quarter. Pacer Advisors Inc. now owns 11,822,885 shares of the textile maker’s stock worth $159,609,000 after acquiring an additional 2,589,852 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of VF by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,125,417 shares of the textile maker’s stock valued at $55,694,000 after purchasing an additional 113,128 shares during the period. Deprince Race & Zollo Inc. lifted its stake in shares of VF by 28.3% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,057,884 shares of the textile maker’s stock valued at $41,281,000 after purchasing an additional 673,979 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of VF by 23.6% during the second quarter. Bank of New York Mellon Corp now owns 2,481,600 shares of the textile maker’s stock valued at $33,502,000 after purchasing an additional 473,373 shares in the last quarter. 86.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at VF

In other VF news, Director Richard Carucci bought 15,000 shares of VF stock in a transaction on Thursday, August 22nd. The stock was acquired at an average cost of $16.70 per share, with a total value of $250,500.00. Following the completion of the acquisition, the director now owns 230,178 shares in the company, valued at approximately $3,843,972.60. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.

VF Price Performance

VFC opened at $19.89 on Wednesday. The firm has a 50 day moving average price of $17.97 and a 200-day moving average price of $15.10. VF Corporation has a twelve month low of $11.00 and a twelve month high of $21.40. 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 (NYSE:VFC) last released its quarterly earnings results on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.85 billion. During the same period in the prior year, the firm earned ($0.15) EPS. The company’s revenue was down 8.9% compared to the same quarter last year. As a group, equities research analysts predict that VF Corporation will post 0.72 EPS for the current fiscal year.

VF Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 10th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Tuesday, September 10th. VF’s payout ratio is currently -14.40%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Barclays raised VF from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $22.00 in a research report on Wednesday, September 18th. Argus raised shares of VF to a “hold” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. decreased their target price on shares of VF from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. UBS Group boosted their price target on VF from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Finally, TD Cowen raised their price objective on VF from $9.00 to $16.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.41.

VF 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.