Public Employees Retirement System of Ohio Acquires Shares of 100,124 V.F. Corporation $VFC

Key Points

• Public Employees Retirement System of Ohio acquired 100,124 shares of V.F. Corporation in the second quarter, valued at approximately $1.67 million. Institutional investors collectively own 86.84% of V.F.’s stock.
• V.F. reported quarterly revenue of $1.67 billion, up from analyst expectations of $1.64 billion, but posted an EPS loss of $0.27 that missed estimates by $0.05; revenue declined 5.2% year over year.
• The company declared a quarterly dividend of $0.09 per share, or $0.36 annually, representing a 2.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $18.21.

Public Employees Retirement System of Ohio bought a new position in V.F. Corporation (NYSE:VFC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 100,124 shares of the textile maker's stock, valued at approximately $1,670,000.

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

V.F. Trading Up 0.1%

V.F. stock opened at $13.46 on Tuesday. The stock has a market cap of $5.29 billion, a P/E ratio of 19.51, a PEG ratio of 0.97 and a beta of 1.57. V.F. Corporation has a fifty-two week low of $12.94 and a fifty-two week high of $22.27. The firm's fifty day moving average price is $15.35 and its 200-day moving average price is $16.95. 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. (NYSE:VFC - Get Free Report) last issued 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 business had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter last year, the business posted ($0.24) EPS. The company's quarterly revenue was down 5.2% on a year-over-year basis. Equities research analysts forecast that V.F. Corporation will post 1.07 earnings per share for the current fiscal year.

V.F. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 10th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Thursday, September 10th. V.F.'s dividend payout ratio (DPR) is 52.17%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on VFC shares. Stifel Nicolaus cut their price target on V.F. from $19.00 to $17.00 and set a "hold" rating for the company in a report on Thursday, July 30th. Evercore set a $16.00 price objective on V.F. in a report on Thursday, July 30th. Truist Financial cut their target price on V.F. from $15.00 to $14.00 and set a "hold" rating for the company in a research note on Thursday, July 30th. The Goldman Sachs Group reduced their target price on V.F. from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Finally, Williams Trading set a $19.00 price target on shares of V.F. in a report on Sunday, May 17th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $18.21.

Insider Transactions at V.F.

In related news, Director Richard Carucci bought 20,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average cost of $14.73 per share, with a total value of $294,600.00. Following the completion of the purchase, the director directly owned 356,215 shares of the company's stock, valued at $5,247,046.95. This trade represents a 5.95% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Bracken Darrell bought 32,894 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average cost of $14.98 per share, for a total transaction of $492,752.12. Following the completion of the purchase, the insider directly owned 1,402,109 shares of the company's stock, valued at $21,003,592.82. This represents a 2.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.54% of the company's stock.

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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