Traders Buy High Volume of V.F. Put Options (NYSE:VFC)

Key Points

• V.F. Corporation (NYSE:VFC) experienced a significant increase in options trading, with a 164% rise in put options to a total of 44,548 on Tuesday.
• In its latest quarterly earnings report, V.F. posted a loss per share of ($0.13), slightly beating the consensus estimate, along with a revenue of $2.14 billion, which fell short of expectations by 4.6%.
• Insider transactions include Director Richard Carucci acquiring 50,000 shares at $12.05 per share, demonstrating confidence in the company amid ongoing volatility.

V.F. Corporation (NYSE:VFC - Get Free Report) was the target of unusually large options trading activity on Tuesday. Stock traders purchased 44,548 put options on the stock. Thisisanincreaseof164% compared to the typical daily volume of 16,891 put options.

Analysts Set New Price Targets

Several research firms have recently commented on VFC. BNP Paribas Exane downgraded shares of V.F. from a "neutral" rating to an "underperform" rating in a research note on Thursday. UBS Group boosted their target price on shares of V.F. from $12.00 to $16.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Barclays set a $16.00 target price on shares of V.F. and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Needham & Company LLC boosted their target price on shares of V.F. from $15.00 to $19.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Wells Fargo & Company decreased their target price on shares of V.F. from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $16.04.

V.F. Trading Up 0.1%

Shares of V.F. stock traded up $0.02 during mid-day trading on Friday, hitting $11.74. The stock had a trading volume of 3,949,713 shares, compared to its average volume of 8,758,920. The firm has a 50-day moving average of $12.35 and a two-hundred day moving average of $16.11. V.F. has a 12-month low of $9.41 and a 12-month high of $29.02. The company has a quick ratio of 0.80, a current ratio of 1.27 and a debt-to-equity ratio of 2.76. The firm has a market cap of $4.57 billion, a P/E ratio of -89.65, a price-to-earnings-growth ratio of 1.45 and a beta of 1.66.

V.F. (NYSE:VFC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The textile maker reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.11. V.F. had a negative net margin of 0.50% and a positive return on equity of 22.77%. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.70 billion. During the same quarter in the prior year, the company posted ($0.33) EPS. The business's revenue for the quarter was down 7.3% on a year-over-year basis. Sell-side analysts forecast that V.F. will post 0.73 earnings per share for the current year.

V.F. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, September 10th. This represents a $0.36 dividend on an annualized basis and a yield of 3.1%. V.F.'s dividend payout ratio is -72.00%.

Insiders Place Their Bets

In related news, EVP Abhishek Dalmia acquired 50,000 shares of the stock in a transaction dated Friday, May 23rd. The stock was acquired at an average cost of $11.78 per share, for a total transaction of $589,000.00. Following the completion of the purchase, the executive vice president owned 380,614 shares of the company's stock, valued at approximately $4,483,632.92. This represents a 15.12% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Carucci acquired 50,000 shares of the stock in a transaction dated Friday, May 23rd. The shares were bought at an average price of $12.05 per share, with a total value of $602,500.00. Following the completion of the purchase, the director directly owned 280,282 shares of the company's stock, valued at approximately $3,377,398.10. This trade represents a 21.71% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 185,840 shares of company stock valued at $2,198,403. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On V.F.

Hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in shares of V.F. by 94.8% in the second quarter. Farther Finance Advisors LLC now owns 4,975 shares of the textile maker's stock valued at $58,000 after acquiring an additional 2,421 shares in the last quarter. SG Americas Securities LLC acquired a new position in V.F. during the first quarter worth about $350,000. Entropy Technologies LP acquired a new position in V.F. during the first quarter worth about $749,000. Amalgamated Bank raised its position in shares of V.F. by 46.2% in the first quarter. Amalgamated Bank now owns 152,410 shares of the textile maker's stock valued at $2,365,000 after buying an additional 48,151 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in V.F. by 11.1% during the first quarter. Russell Investments Group Ltd. now owns 277,442 shares of the textile maker's stock worth $4,306,000 after purchasing an additional 27,727 shares during the last quarter. 86.84% of the stock is currently owned by institutional investors and hedge funds.

V.F. Company Profile

VF Corp. engages in the business of producing and marketing apparel, footwear, and accessories. It operates through the following segments: Outdoor, Active, Work, and Other. The Outdoor segment includes authentic outdoor-based lifestyle brands such as performance-based and outdoor apparel, footwear, and equipment.