Squarepoint Ops LLC Has $29.74 Million Stake in V.F. Corporation $VFC

Key Points

• Squarepoint Ops LLC increased its V.F. stake by 298.1% in the second quarter, holding 1.78 million shares valued at approximately $29.74 million. Institutional investors and hedge funds collectively own 86.84% of V.F.’s stock.
• V.F. reported quarterly revenue of $1.67 billion, up from estimates of $1.64 billion, but its loss of $0.27 per share missed expectations by $0.05; revenue declined 5.2% year over year.
• Shares opened at $13.22, near their 52-week low, while analysts maintain a consensus “Hold” rating with an average price target of $18.21. The company also declared a quarterly dividend of $0.09 per share, yielding about 2.7% annually.

Squarepoint Ops LLC raised its position in shares of V.F. Corporation (NYSE:VFC - Free Report) by 298.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,782,904 shares of the textile maker's stock after acquiring an additional 1,335,057 shares during the period. Squarepoint Ops LLC owned approximately 0.45% of V.F. worth $29,739,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its stake in V.F. by 1.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 578,767 shares of the textile maker's stock valued at $8,352,000 after purchasing an additional 10,881 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of V.F. by 19.1% during the fourth 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 during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 buying an additional 4,167 shares during the last quarter. Optimize Financial Inc boosted its position in shares of V.F. by 1.5% in the fourth quarter. Optimize Financial Inc now owns 40,379 shares of the textile maker's stock valued at $730,000 after acquiring an additional 580 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of V.F. by 0.8% in the fourth quarter. New York State Common Retirement Fund now owns 540,861 shares of the textile maker's stock valued at $9,779,000 after acquiring an additional 4,249 shares during the period. 86.84% of the stock is owned by institutional investors and hedge funds.

V.F. Stock Performance

VFC opened at $13.22 on Wednesday. The stock's 50 day simple moving average is $15.28 and its 200-day simple moving average is $16.89. The company has a current ratio of 1.43, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70. The stock has a market cap of $5.20 billion, a PE ratio of 19.17, a P/E/G ratio of 0.97 and a beta of 1.57. V.F. Corporation has a 1 year low of $12.94 and a 1 year high of $22.27.

V.F. (NYSE:VFC - Get Free Report) last issued its earnings results on Wednesday, July 29th. The textile maker reported ($0.27) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the business earned ($0.24) earnings per share. The firm's revenue for the quarter was down 5.2% compared to the same quarter last year. Sell-side analysts forecast that V.F. Corporation will post 1.07 EPS for the current year.

V.F. Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Thursday, September 10th. V.F.'s payout ratio is 52.17%.

Wall Street Analysts Forecast Growth

VFC has been the topic of a number of research reports. Citigroup initiated 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 on the stock. Truist Financial reduced their price target on shares of V.F. from $15.00 to $14.00 and set a "hold" rating for the company in a report on Thursday, July 30th. Zacks Research lowered shares of V.F. from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Wells Fargo & Company dropped their price objective on shares of V.F. from $18.00 to $16.00 and set an "equal weight" rating on the stock in a report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of V.F. in a research report on Tuesday, September 1st. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, V.F. has a consensus rating of "Hold" and an average price target of $18.21.

Insider Activity

In other V.F. news, Director Richard Carucci purchased 20,000 shares of the business's stock in a transaction on Thursday, August 13th. The stock was 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 approximately $5,247,046.95. This trade represents a 5.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bracken Darrell acquired 32,894 shares of the stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $14.98 per share, for a total transaction of $492,752.12. Following the completion of the purchase, the insider owned 1,402,109 shares in the company, valued at approximately $21,003,592.82. This trade represents a 2.40% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.54% of the stock is currently owned by insiders.

V.F. 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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