V.F. Corporation $VFC Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems cut its V.F. Corporation stake by 49.8% in the third quarter, selling 73,400 shares and retaining 73,900 shares valued at about $1.04 million.
• V.F. reported quarterly EPS of $0.70, beating the $0.54 analyst consensus, and revenue of $2.70 billion; revenue declined 3.8% year over year.
• The company declared a quarterly dividend of $0.09 per share. Analysts’ consensus rating was “Hold,” with an average price target of $18.89.

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its position in V.F. Corporation (NYSE:VFC - Free Report) by 49.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,900 shares of the textile maker's stock after selling 73,400 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in V.F. were worth $1,039,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new position in V.F. in the 2nd quarter valued at about $42,038,000. Squarepoint Ops LLC raised its stake in shares of V.F. by 298.1% during the second quarter. Squarepoint Ops LLC now owns 1,782,904 shares of the textile maker's stock worth $29,739,000 after purchasing an additional 1,335,057 shares during the last quarter. Varenne Capital Partners acquired a new stake in shares of V.F. during the second quarter worth $13,671,000. Assenagon Asset Management S.A. increased its stake in V.F. by 242.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 765,146 shares of the textile maker's stock valued at $10,758,000 after buying an additional 541,627 shares during the period. Finally, Madison Asset Management LLC purchased a new position in V.F. during the 2nd quarter worth $3,913,000. 86.84% of the stock is currently owned by institutional investors and hedge funds.

V.F. Stock Down 2.8%

VFC stock opened at $20.34 on Friday. The company has a 50 day moving average price of $15.18 and a two-hundred day moving average price of $16.97. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.85 and a current ratio of 1.47. The stock has a market capitalization of $8.01 billion, a P/E ratio of 20.72, a PEG ratio of 0.88 and a beta of 1.49. V.F. Corporation has a one year low of $12.45 and a one year high of $22.27.

V.F. (NYSE:VFC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The textile maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.16. V.F. had a return on equity of 21.78% and a net margin of 3.93%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the company earned $0.52 EPS. The firm's quarterly revenue was down 3.8% on a year-over-year basis. As a group, sell-side analysts expect that V.F. Corporation will post 1.18 EPS for the current year.

V.F. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 10th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, December 10th. V.F.'s dividend payout ratio (DPR) is 39.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised V.F. from an "underweight" rating to a "neutral" rating and lowered their price objective for the company from $19.00 to $18.00 in a report on Friday, October 9th. Barclays increased their price target on shares of V.F. from $24.00 to $28.00 and gave the company an "overweight" rating in a report on Thursday. The Goldman Sachs Group dropped their target price on shares of V.F. from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Truist Financial upgraded V.F. from a "hold" rating to a "buy" rating and upped their price target for the stock from $14.00 to $20.00 in a report on Tuesday, October 13th. Finally, BTIG Research reaffirmed a "buy" rating and set a $23.00 price target on shares of V.F. in a research note on Wednesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $18.89.

Insider Buying and Selling

In other V.F. news, Director Richard Carucci purchased 20,000 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $14.73 per share, with a total value of $294,600.00. Following the transaction, the director 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.54% of the company's stock.

V.F. Company Profile

V.F. Corporation, commonly known as VF Corporation, is a global apparel, footwear and accessories company. Its brand portfolio includes The North Face, Vans, Timberland, Dickies, JanSport, Smartwool, Icebreaker, Kipling, Eastpak and Napapijri. These brands serve outdoor, active, workwear, lifestyle and youth-oriented markets.

VF sells products through wholesale partners, company-operated retail stores, brand websites and other digital channels. Its offerings include jackets, outdoor and performance apparel, footwear, backpacks, luggage and workwear.

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