V.F. Corporation $VFC Stock: Assenagon Asset Management S.A. Grows Stake

Key Points

• Assenagon Asset Management increased its V.F. stake by 242.3% in the third quarter, bringing its holdings to 765,146 shares worth approximately $10.8 million. Institutional investors collectively own 86.84% of V.F.’s stock.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $18.14. Recent targets range from $14 to $24.
• V.F. insiders also bought shares, including purchases by CEO Bracken Darrell and director Richard Carucci. The company’s latest quarter missed earnings expectations, while revenue declined 5.2% year over year.

Assenagon Asset Management S.A. increased its stake in shares of V.F. Corporation (NYSE:VFC - Free Report) by 242.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 765,146 shares of the textile maker's stock after acquiring an additional 541,627 shares during the period. Assenagon Asset Management S.A. owned 0.19% of V.F. worth $10,758,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in VFC. Curated Wealth Partners LLC acquired a new stake in shares of V.F. in the third quarter worth $673,000. B.A. Schrock Wealth Management Inc. acquired a new position in V.F. in the 3rd quarter valued at $1,429,000. Krilogy Financial LLC grew its stake in V.F. by 33.0% in the 3rd quarter. Krilogy Financial LLC now owns 44,588 shares of the textile maker's stock valued at $627,000 after buying an additional 11,068 shares during the last quarter. NorthCrest Asset Manangement LLC raised its holdings in V.F. by 25.1% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 27,025 shares of the textile maker's stock worth $393,000 after acquiring an additional 5,417 shares during the period. Finally, Riversedge Advisors LLC bought a new position in V.F. in the 3rd quarter worth $171,000. Institutional investors and hedge funds own 86.84% of the company's stock.

Analyst Upgrades and Downgrades

VFC has been the subject of a number of recent analyst reports. Telsey Advisory Group decreased their price target on shares of V.F. from $20.00 to $17.00 and set a "market perform" rating for the company in a report on Thursday, July 30th. Weiss Ratings reiterated a "sell (d+)" rating on shares of V.F. in a research note on Tuesday, September 1st. Truist Financial set a $20.00 price objective on V.F. and gave the stock a "buy" rating in a research note on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft began coverage on V.F. in a research report on Thursday, September 17th. They set a "hold" rating and a $14.00 price objective for the company. Finally, Barclays increased their target price on V.F. from $23.00 to $24.00 and gave the company an "overweight" rating in a research note on Monday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $18.14.

Insider Buying and Selling

In related news, insider Bracken Darrell bought 32,894 shares of the business's stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average price of $14.98 per share, for a total transaction of $492,752.12. Following the transaction, 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard Carucci purchased 20,000 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average cost of $14.73 per share, for a total transaction of $294,600.00. Following the purchase, the director owned 356,215 shares in the company, valued at $5,247,046.95. This represents a 5.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.54% of the company's stock.

V.F. Price Performance

NYSE:VFC opened at $17.12 on Tuesday. The company has a 50-day moving average of $14.15 and a 200-day moving average of $16.20. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 0.88 and a beta of 1.56. V.F. Corporation has a 52 week low of $12.45 and a 52 week high of $22.27. 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 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 business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.64 billion. V.F. had a net margin of 2.88% and a return on equity of 18.91%. V.F.'s revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.24) earnings per share. As a group, equities research analysts anticipate that V.F. Corporation will post 1.10 earnings per share for the current fiscal year.

V.F. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, September 10th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.1%. V.F.'s dividend payout ratio is presently 52.17%.

About V.F.

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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