V.F. Corporation $VFC Stake Lessened by Wellington Management Group LLP

Key Points

• Wellington Management reduced its V.F. stake by 25.3% in the second quarter, selling 324,434 shares and retaining 956,253 shares valued at approximately $15.95 million. Institutional investors and hedge funds collectively own 86.84% of the company.
• Analysts’ consensus rating remains “Hold,” with an average price target of $18.21, despite several target cuts. V.F. shares opened at $13.46, near their 52-week low of $12.94.
• V.F. reported quarterly revenue of $1.67 billion, ahead of estimates, but adjusted earnings per share of negative $0.27 missed expectations and revenue declined 5.2% year over year. The company maintained a quarterly dividend of $0.09 per share, yielding about 2.7%.

Wellington Management Group LLP trimmed its stake in shares of V.F. Corporation (NYSE:VFC - Free Report) by 25.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 956,253 shares of the textile maker's stock after selling 324,434 shares during the quarter. Wellington Management Group LLP owned approximately 0.24% of V.F. worth $15,950,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new stake in shares of V.F. in the 2nd quarter worth about $1,670,000. Madison Asset Management LLC acquired a new position in V.F. in the second quarter worth about $3,913,000. Bank of New York Mellon Corp bought a new stake in V.F. in the second quarter valued at about $42,038,000. Handelsbanken Fonder AB raised its stake in V.F. by 3.7% during the second quarter. Handelsbanken Fonder AB now owns 116,200 shares of the textile maker's stock valued at $1,938,000 after buying an additional 4,200 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in V.F. by 213.7% during the second quarter. Versant Capital Management Inc now owns 8,078 shares of the textile maker's stock valued at $135,000 after buying an additional 5,503 shares in the last quarter. 86.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on VFC shares. Evercore set a $16.00 target price on V.F. in a research report on Thursday, July 30th. BTIG Research restated a "buy" rating on shares of V.F. in a research note on Friday, July 24th. Truist Financial decreased their price objective 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. Needham & Company LLC dropped their target price on shares of V.F. from $25.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, July 29th. Finally, Stifel Nicolaus reduced their price target on shares of V.F. from $19.00 to $17.00 and set a "hold" rating on the stock in a research report on Thursday, July 30th. Two investment 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 given a Sell rating to the stock. According to MarketBeat.com, V.F. currently has an average rating of "Hold" and an average price target of $18.21.

V.F. Stock Up 0.1%

V.F. stock opened at $13.46 on Tuesday. V.F. Corporation has a 52 week low of $12.94 and a 52 week high of $22.27. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 0.97 and a beta of 1.57. The company's 50-day moving average price is $15.35 and its two-hundred day moving average price is $16.95. The company has a current ratio of 1.43, a quick ratio of 0.78 and a debt-to-equity ratio of 1.70.

V.F. (NYSE:VFC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The textile maker reported ($0.27) earnings per share 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 company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the prior year, the company posted ($0.24) earnings per share. The company's revenue was down 5.2% on a year-over-year basis. On average, analysts expect that V.F. Corporation will post 1.07 EPS for the current fiscal year.

V.F. Announces Dividend

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

Insider Buying and Selling at V.F.

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

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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