Hillsdale Investment Management Inc. Invests $3.21 Million in V.F. Corporation $VFC

Key Points

• Hillsdale Investment Management bought a new stake in V.F. Corporation during the first quarter, purchasing 188,900 shares worth about $3.21 million.
• Other institutional investors have also been active in V.F., and hedge funds and other institutions now own 86.84% of the company’s stock.
• V.F. recently reported a Q1 EPS miss of $0.30 versus expectations for a $0.02 loss, while revenue came in at $2.17 billion, slightly above estimates; the company also pays a quarterly dividend of $0.09 per share, yielding about 2.1%.

Hillsdale Investment Management Inc. purchased a new stake in shares of V.F. Corporation (NYSE:VFC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 188,900 shares of the textile maker's stock, valued at approximately $3,209,000.

A number of other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in V.F. by 14.0% during the 4th quarter. Russell Investments Group Ltd. now owns 659,773 shares of the textile maker's stock worth $11,930,000 after purchasing an additional 81,006 shares during the period. Fiduciary Alliance LLC lifted its holdings in shares of V.F. by 10.3% in the 4th quarter. Fiduciary Alliance LLC now owns 647,496 shares of the textile maker's stock worth $11,707,000 after buying an additional 60,619 shares during the period. Captrust Financial Advisors lifted its holdings in shares of V.F. by 28.0% in the 4th quarter. Captrust Financial Advisors now owns 90,873 shares of the textile maker's stock worth $1,643,000 after buying an additional 19,880 shares during the period. Handelsbanken Fonder AB grew its position in shares of V.F. by 19.1% during the 4th quarter. Handelsbanken Fonder AB now owns 112,000 shares of the textile maker's stock worth $2,025,000 after buying an additional 18,000 shares in the last quarter. Finally, Quent Capital LLC grew its position in shares of V.F. by 1,635.2% during the 4th quarter. Quent Capital LLC now owns 13,170 shares of the textile maker's stock worth $238,000 after buying an additional 12,411 shares in the last quarter. Hedge funds and other institutional investors own 86.84% of the company's stock.

Insider Buying and Selling

In other news, Director Richard Carucci bought 30,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was bought at an average cost of $17.17 per share, for a total transaction of $515,100.00. Following the completion of the purchase, the director directly owned 336,043 shares in the company, valued at approximately $5,769,858.31. The trade was a 9.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.54% of the stock is owned by insiders.

V.F. Price Performance

Shares of VFC stock opened at $17.22 on Thursday. The stock's 50-day moving average is $16.99 and its 200 day moving average is $18.20. V.F. Corporation has a 1-year low of $11.10 and a 1-year high of $22.27. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.84 and a quick ratio of 1.21. The company has a market cap of $6.76 billion, a P/E ratio of 26.91, a PEG ratio of 1.34 and a beta of 1.56.

V.F. (NYSE:VFC - Get Free Report) last announced its earnings results on Wednesday, May 20th. The textile maker reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.28). The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. V.F. had a return on equity of 21.05% and a net margin of 2.65%.The business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. Research analysts predict that V.F. Corporation will post 1.1 earnings per share for the current fiscal year.

V.F. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, June 10th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, June 10th. V.F.'s payout ratio is 56.25%.

Wall Street Analysts Forecast Growth

VFC has been the subject of several recent research reports. Zacks Research downgraded V.F. from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. Evercore set a $18.00 target price on shares of V.F. in a report on Thursday, May 21st. BTIG Research raised shares of V.F. from a "neutral" rating to a "buy" rating and set a $23.00 target price on the stock in a research report on Wednesday, May 6th. Citigroup initiated coverage on shares of V.F. in a report on Thursday, May 21st. They issued a "neutral" rating and a $18.00 price target for the company. Finally, Barclays lowered their price target on shares of V.F. from $25.00 to $24.00 and set an "overweight" rating for the company in a research report on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, V.F. presently has an average rating of "Hold" and an average target price of $18.58.

About V.F.

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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