Varenne Capital Partners Purchases Shares of 820,157 V.F. Corporation $VFC

Key Points

• Varenne Capital Partners acquired 820,157 V.F. shares worth approximately $13.7 million, giving the fund a 0.21% stake and making V.F. 2.3% of its portfolio.
• Institutional investors own 86.84% of V.F., while company insiders purchased 82,894 shares worth about $1.3 million over the past 90 days.
• Analysts maintain a consensus “Hold” rating with an average $18.21 price target. V.F. recently missed quarterly earnings expectations, reported a 5.2% year-over-year revenue decline, and declared a quarterly dividend of $0.09 per share.

Varenne Capital Partners purchased a new position in shares of V.F. Corporation (NYSE:VFC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 820,157 shares of the textile maker's stock, valued at approximately $13,671,000. V.F. comprises about 2.3% of Varenne Capital Partners' investment portfolio, making the stock its 16th biggest position. Varenne Capital Partners owned about 0.21% of V.F. at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Parallel Advisors LLC boosted its holdings in shares of V.F. by 27.9% in 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 during the last quarter. Root Financial Partners LLC increased its holdings in V.F. by 282.9% during the first quarter. Root Financial Partners LLC now owns 3,052 shares of the textile maker's stock worth $52,000 after buying an additional 2,255 shares during the last quarter. EverSource Wealth Advisors LLC raised its position 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 lifted its stake in V.F. by 213.7% in the second 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 last quarter. Finally, Nykredit A S acquired a new stake in V.F. in the second quarter valued at $179,000. Institutional investors own 86.84% of the company's stock.

Insider Buying and Selling at V.F.

In other V.F. news, insider Bracken Darrell purchased 32,894 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The shares were acquired 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 owned 1,402,109 shares of the company's stock, valued at approximately $21,003,592.82. The trade was a 2.40% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Carucci purchased 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, for a total transaction of $294,600.00. Following the completion of the transaction, the director 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 disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 82,894 shares of company stock valued at $1,302,452 over the last 90 days. 1.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

VFC has been the topic of several recent analyst reports. Citigroup assumed coverage on shares of V.F. in a research note on Thursday, May 21st. They set a "neutral" rating and a $18.00 price objective on the stock. Barclays reduced their price target on V.F. from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Thursday, July 30th. Weiss Ratings reissued a "sell (d+)" rating on shares of V.F. in a research report on Tuesday, September 1st. Wells Fargo & Company dropped their price objective on V.F. from $18.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 30th. Finally, Williams Trading set a $19.00 price objective on V.F. in a research report on Sunday, May 17th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $18.21.

V.F. Stock Performance

NYSE VFC opened at $13.46 on Monday. The stock has a market cap of $5.29 billion, a PE ratio of 19.51, a P/E/G ratio of 0.97 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. The firm has a 50-day moving average of $15.41 and a 200-day moving average of $16.99. V.F. Corporation has a 52-week low of $12.94 and a 52-week high of $22.27.

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

V.F. Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, September 10th. V.F.'s dividend payout ratio (DPR) 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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