Richard Carucci Acquires 20,000 Shares of V.F. (NYSE:VFC) Stock

Key Points

• Director Richard Carucci bought 20,000 V.F. shares at an average price of $14.73, investing $294,600 and increasing his stake by 5.95% to 356,215 shares. He also purchased 30,000 shares in June.
• V.F. recently reported quarterly revenue of $1.67 billion, ahead of expectations, but its loss of $0.27 per share was wider than analysts anticipated; revenue declined 5.2% year over year.
• Analysts maintain a consensus “Hold” rating, with an average price target of $18.21, while the company continues to pay a quarterly dividend of $0.09 per share, yielding about 2.4%.

V.F. Corporation (NYSE:VFC - Get Free Report) Director Richard Carucci bought 20,000 shares of the business's stock in a transaction on Thursday, August 13th. The shares were acquired at an average price of $14.73 per share, for a total transaction of $294,600.00. Following the completion of the purchase, the director owned 356,215 shares in the company, valued at approximately $5,247,046.95. The trade was a 5.95% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Richard Carucci also recently made the following trade(s):

• On Tuesday, June 9th, Richard Carucci purchased 30,000 shares of V.F. stock. The shares were acquired at an average cost of $17.17 per share, for a total transaction of $515,100.00.

V.F. Price Performance

NYSE VFC opened at $14.89 on Monday. V.F. Corporation has a one year low of $12.60 and a one year high of $22.27. The stock has a 50-day moving average of $16.42 and a 200 day moving average of $17.69. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 1.07 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.

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 analysts' consensus estimates of ($0.22) by ($0.05). The business had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.64 billion. V.F. had a return on equity of 18.91% and a net margin of 2.88%.V.F.'s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.24) EPS. On average, sell-side analysts forecast that V.F. Corporation will post 1.07 EPS for the current year.

V.F. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders 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 dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, September 10th. V.F.'s payout ratio is presently 52.17%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VFC. Hillsdale Investment Management Inc. bought a new stake in shares of V.F. during the 1st quarter valued at $3,209,000. Entropy Technologies LP bought a new position in V.F. in the 1st quarter worth $815,000. Parallel Advisors LLC raised its holdings in V.F. by 27.9% in the 1st quarter. Parallel Advisors LLC now owns 2,694 shares of the textile maker's stock worth $46,000 after purchasing an additional 588 shares during the period. Handelsbanken Fonder AB lifted its position 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 purchasing an additional 4,200 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings 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 purchasing an additional 5,503 shares during the period. 86.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on VFC. Telsey Advisory Group cut their target price on shares of V.F. from $20.00 to $17.00 and set a "market perform" rating for the company in a research report on Thursday, July 30th. The Goldman Sachs Group lowered their price target on V.F. from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Barclays dropped their price target on V.F. from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Thursday, July 30th. Truist Financial reduced their price objective on V.F. from $15.00 to $14.00 and set a "hold" rating for the company in a research report on Thursday, July 30th. Finally, Wells Fargo & Company lowered their target price 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. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, V.F. currently has a consensus rating of "Hold" and a consensus target price of $18.21.

About V.F.

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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