Bank of New York Mellon Corp Buys New Holdings in V.F. Corporation $VFC

Bank of New York Mellon Corp purchased a new position in shares of V.F. Corporation (NYSE:VFC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,520,282 shares of the textile maker's stock, valued at approximately $42,038,000. Bank of New York Mellon Corp owned approximately 0.64% of V.F. at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Parallel Advisors LLC lifted its position in shares of V.F. by 27.9% during the 1st quarter. Parallel Advisors LLC now owns 2,694 shares of the textile maker's stock worth $46,000 after buying an additional 588 shares during the period. Root Financial Partners LLC grew its position in V.F. by 282.9% in the first quarter. Root Financial Partners LLC now owns 3,052 shares of the textile maker's stock valued at $52,000 after acquiring an additional 2,255 shares during the period. EverSource Wealth Advisors LLC raised its stake in V.F. by 151.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 6,915 shares of the textile maker's stock worth $125,000 after acquiring an additional 4,167 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of V.F. by 213.7% in the 2nd quarter. Versant Capital Management Inc now owns 8,078 shares of the textile maker's stock valued at $135,000 after purchasing an additional 5,503 shares in the last quarter. Finally, Optimize Financial Inc boosted its stake in shares of V.F. by 1.5% in the 4th quarter. Optimize Financial Inc now owns 40,379 shares of the textile maker's stock valued at $730,000 after purchasing an additional 580 shares in the last quarter. Institutional investors and hedge funds own 86.84% of the company's stock.

Insider Buying and Selling at V.F.

In other news, insider Bracken Darrell acquired 32,894 shares of the firm's stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $14.98 per share, with a total value of $492,752.12. Following the transaction, the insider directly owned 1,402,109 shares in the company, valued at approximately $21,003,592.82. The trade was a 2.40% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard Carucci acquired 20,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were purchased at an average price of $14.73 per share, for a total transaction of $294,600.00. Following the completion of the purchase, the director directly owned 356,215 shares in the company, valued at $5,247,046.95. The trade was a 5.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 82,894 shares of company stock worth $1,302,452 over the last ninety days. Insiders own 1.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Citigroup began coverage on shares of V.F. in a research report on Thursday, May 21st. They set a "neutral" rating and a $18.00 target price for the company. Evercore set a $16.00 price target on shares of V.F. in a research report on Thursday, July 30th. BTIG Research reaffirmed a "buy" rating on shares of V.F. in a research note on Friday, July 24th. Barclays dropped their price objective on shares of V.F. from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Thursday, July 30th. Finally, UBS Group decreased their price target on V.F. from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, V.F. presently has a consensus rating of "Hold" and an average price target of $18.21.

V.F. Stock Performance

Shares of VFC opened at $13.66 on Friday. The firm's 50 day moving average price is $15.80 and its two-hundred day moving average price is $17.28. The firm has a market cap of $5.37 billion, a P/E ratio of 19.80, a PEG ratio of 0.98 and a beta of 1.57. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.78 and a current ratio of 1.43. V.F. Corporation has a twelve month low of $13.02 and a twelve month high of $22.27.

V.F. (NYSE:VFC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The textile maker reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.05). V.F. had a return on equity of 18.91% and a net margin of 2.88%.The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the business posted ($0.24) earnings per share. The firm's quarterly revenue was down 5.2% compared to the same quarter last year. On average, analysts forecast that V.F. Corporation will post 1.07 EPS for the current fiscal year.

V.F. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 10th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Thursday, September 10th. V.F.'s payout ratio is presently 52.17%.

V.F. Company Profile

VF Corporation, commonly branded as VF, is a global apparel and footwear company that develops, markets and distributes a diverse portfolio of consumer brands. Its offerings span outdoor and action sports apparel, footwear and accessories under marquee names such as The North Face, Vans, Timberland, Dickies, JanSport and Smartwool. Through a “house of brands” strategy, VF leverages the unique heritage and design expertise of each label to serve distinct lifestyle and performance segments.

Founded in 1899 in Pennsylvania as the Reading Glove and Mitten Manufacturing Company, VF evolved through a series of acquisitions and strategic expansions to become a leading player in the global apparel industry.

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