V.F. Corporation $VFC Stock: M&G PLC Boosts Position

Key Points

• M&G PLC increased its V.F. Corporation stake by 0.5% in the third quarter, adding 122,275 shares to hold about 26 million shares, or 6.59% of the company.
• V.F. reported quarterly earnings of $0.70 per share, beating the $0.54 analyst consensus, while revenue of $2.70 billion exceeded estimates but fell 3.8% year over year.
• The company announced a quarterly dividend of $0.09 per share, equivalent to a 1.7% yield; analysts’ consensus rating was “Hold,” with an average target price of $18.89.

M&G PLC lifted its holdings in V.F. Corporation (NYSE:VFC - Free Report) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,956,797 shares of the textile maker's stock after buying an additional 122,275 shares during the quarter. V.F. makes up about 1.8% of M&G PLC's portfolio, making the stock its 8th biggest position. M&G PLC owned 6.59% of V.F. worth $363,395,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. AlphaCore Capital LLC lifted its holdings in V.F. by 224.0% during the 3rd quarter. AlphaCore Capital LLC now owns 36,886 shares of the textile maker's stock valued at $519,000 after buying an additional 25,502 shares in the last quarter. Retirement Systems of Alabama grew its stake in V.F. by 1.4% in the 3rd quarter. Retirement Systems of Alabama now owns 344,672 shares of the textile maker's stock worth $4,846,000 after acquiring an additional 4,744 shares in the last quarter. Brighton Jones LLC increased its position in shares of V.F. by 78.8% during the third quarter. Brighton Jones LLC now owns 77,901 shares of the textile maker's stock worth $1,095,000 after acquiring an additional 34,322 shares during the period. Allegiance Financial Group Advisory Services LLC purchased a new position in shares of V.F. during the third quarter worth approximately $177,000. Finally, QTR Family Wealth LLC purchased a new position in shares of V.F. during the third quarter worth approximately $195,000. 86.84% of the stock is owned by institutional investors.

Insider Transactions at V.F.

In other V.F. news, Director Richard Carucci purchased 20,000 shares of the stock in a transaction on Thursday, August 13th. The stock was acquired at an average price of $14.73 per share, with a total value of $294,600.00. Following the completion of the acquisition, the director owned 356,215 shares in the company, valued at $5,247,046.95. The trade was a 5.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.54% of the stock is owned by corporate insiders.

V.F. Price Performance

NYSE VFC opened at $20.89 on Tuesday. The company has a market cap of $8.22 billion, a PE ratio of 20.72, a P/E/G ratio of 0.88 and a beta of 1.49. The firm's 50 day moving average price is $15.46 and its 200-day moving average price is $16.99. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.85 and a current ratio of 1.47. V.F. Corporation has a 52-week low of $12.45 and a 52-week high of $22.27.

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

V.F. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 10th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, December 10th. V.F.'s payout ratio is 39.13%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on VFC shares. BNP Paribas Exane upgraded V.F. from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $13.00 to $16.00 in a report on Thursday, October 29th. Wells Fargo & Company reduced their price objective on V.F. from $18.00 to $16.00 and set an "equal weight" rating on the stock in a report on Thursday, July 30th. BTIG Research reaffirmed a "buy" rating and set a $23.00 target price on shares of V.F. in a research report on Wednesday, October 28th. Piper Sandler upgraded V.F. from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $16.00 to $20.00 in a report on Tuesday, October 13th. Finally, Truist Financial raised V.F. from a "hold" rating to a "buy" rating and increased their price target for the stock from $14.00 to $20.00 in a research report on Tuesday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $18.89.

About V.F.

V.F. Corporation, commonly known as VF Corporation, is a global apparel, footwear and accessories company. Its portfolio includes brands such as The North Face, Vans, Timberland and Dickies, which serve outdoor, active, workwear and lifestyle markets.

The company sells products through wholesale partners, its own retail stores and e-commerce channels. Its brands offer items including outdoor clothing and equipment, footwear, workwear, backpacks and accessories to customers in the Americas, Europe and Asia-Pacific.

Founded in 1899 as the Reading Glove and Mitten Manufacturing Company, the business later became Vanity Fair Mills and adopted the name VF Corporation in 1982.

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