Burney Co. Grows Holdings in VF Corp (VFC)

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Burney Co. raised its stake in VF Corp (NYSE:VFC) by 8.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,478 shares of the textile maker’s stock after buying an additional 1,983 shares during the quarter. Burney Co.’s holdings in VF were worth $1,995,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of VF by 9.6% during the 2nd quarter. BlackRock Inc. now owns 24,770,077 shares of the textile maker’s stock worth $2,019,258,000 after purchasing an additional 2,179,165 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of VF by 1.6% during the 1st quarter. Wells Fargo & Company MN now owns 9,138,244 shares of the textile maker’s stock worth $677,327,000 after purchasing an additional 143,454 shares during the last quarter. Charles Schwab Investment Advisory Inc. acquired a new position in shares of VF during the 2nd quarter worth $352,007,000. Janus Henderson Group PLC increased its stake in shares of VF by 89.6% during the 2nd quarter. Janus Henderson Group PLC now owns 3,479,346 shares of the textile maker’s stock worth $283,640,000 after purchasing an additional 1,644,062 shares during the last quarter. Finally, FMR LLC increased its stake in shares of VF by 106.9% during the 2nd quarter. FMR LLC now owns 3,466,116 shares of the textile maker’s stock worth $282,557,000 after purchasing an additional 1,790,625 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

NYSE:VFC opened at $91.09 on Thursday. VF Corp has a 1 year low of $61.56 and a 1 year high of $97.00. The company has a current ratio of 1.45, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $36.53 billion, a P/E ratio of 30.57, a PEG ratio of 2.39 and a beta of 0.98.

VF (NYSE:VFC) last issued its quarterly earnings results on Friday, July 20th. The textile maker reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. VF had a net margin of 5.46% and a return on equity of 35.37%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the prior year, the firm earned $0.29 EPS. The business’s revenue was up 22.9% on a year-over-year basis. research analysts forecast that VF Corp will post 3.61 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 20th. Shareholders of record on Monday, September 10th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, September 7th. VF’s dividend payout ratio (DPR) is presently 61.74%.

In other VF news, VP Scott H. Baxter sold 65,988 shares of the stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $83.85, for a total value of $5,533,093.80. Following the completion of the sale, the vice president now directly owns 196,882 shares of the company’s stock, valued at approximately $16,508,555.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Bryan H. Mcneill sold 25,232 shares of the stock in a transaction on Monday, August 20th. The shares were sold at an average price of $92.45, for a total transaction of $2,332,698.40. Following the completion of the sale, the vice president now directly owns 5,122 shares of the company’s stock, valued at $473,528.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 214,617 shares of company stock valued at $19,155,207. Insiders own 1.72% of the company’s stock.

Several research analysts have recently commented on VFC shares. JPMorgan Chase & Co. upgraded shares of VF from a “neutral” rating to an “overweight” rating and set a $78.00 price target on the stock in a research note on Monday, July 16th. Stifel Nicolaus increased their price target on shares of VF from $91.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, July 17th. Robert W. Baird restated an “outperform” rating and set a $97.00 price target (up previously from $90.00) on shares of VF in a research note on Thursday, July 19th. Bank of America upgraded shares of VF from an “underperform” rating to a “buy” rating and set a $96.00 price target on the stock in a research note on Friday, July 13th. Finally, Deutsche Bank started coverage on shares of VF in a research note on Thursday, July 12th. They set a “buy” rating and a $93.00 price target on the stock. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. VF presently has a consensus rating of “Buy” and an average price target of $93.70.

About VF

V.F. Corporation engages in the design, production, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia Pacific. It operates through four segments: Outdoor & Action Sports, Jeanswear, Imagewear, and Other.

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Institutional Ownership by Quarter for VF (NYSE:VFC)

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