Pictet Asset Management Ltd. Decreases Stake in VF Corp (NYSE:VFC)

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Pictet Asset Management Ltd. reduced its holdings in shares of VF Corp (NYSE:VFC) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 640,191 shares of the textile maker’s stock after selling 10,204 shares during the quarter. Pictet Asset Management Ltd. owned 0.16% of VF worth $55,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Mitchell Mcleod Pugh & Williams Inc. grew its position in VF by 2.2% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,771 shares of the textile maker’s stock worth $504,000 after purchasing an additional 125 shares during the period. Flagship Harbor Advisors LLC boosted its stake in shares of VF by 31.5% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 547 shares of the textile maker’s stock worth $47,000 after buying an additional 131 shares during the last quarter. Camelot Portfolios LLC boosted its stake in shares of VF by 4.9% in the 2nd quarter. Camelot Portfolios LLC now owns 2,815 shares of the textile maker’s stock worth $246,000 after buying an additional 132 shares during the last quarter. Certified Advisory Corp grew its holdings in shares of VF by 27.7% in the second quarter. Certified Advisory Corp now owns 613 shares of the textile maker’s stock worth $54,000 after acquiring an additional 133 shares during the period. Finally, Bell Rock Capital LLC grew its holdings in shares of VF by 19.9% in the second quarter. Bell Rock Capital LLC now owns 833 shares of the textile maker’s stock worth $74,000 after acquiring an additional 138 shares during the period. 83.50% of the stock is currently owned by hedge funds and other institutional investors.

In other VF news, CFO Scott A. Roe sold 10,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $88.39, for a total value of $883,900.00. Following the completion of the sale, the chief financial officer now owns 98,198 shares in the company, valued at approximately $8,679,721.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Laura C. Meagher sold 6,704 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $83.31, for a total value of $558,510.24. Following the sale, the general counsel now directly owns 24,123 shares in the company, valued at $2,009,687.13. The disclosure for this sale can be found here. Insiders sold a total of 56,707 shares of company stock valued at $4,772,660 over the last three months. 0.74% of the stock is currently owned by insiders.

A number of research analysts have weighed in on VFC shares. Pivotal Research increased their target price on VF to $95.00 in a report on Monday, July 22nd. TheStreet downgraded VF from a “b+” rating to a “c” rating in a research note on Wednesday, July 24th. Telsey Advisory Group restated an “outperform” rating and set a $106.00 price target (up from $104.00) on shares of VF in a research note on Thursday, July 25th. Guggenheim reaffirmed a “buy” rating and set a $95.00 price target (up previously from $90.00) on shares of VF in a research report on Thursday, May 23rd. Finally, Canaccord Genuity set a $105.00 price objective on shares of VF and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $94.06.

NYSE:VFC traded up $0.88 during mid-day trading on Wednesday, hitting $90.70. 88,281 shares of the company traded hands, compared to its average volume of 1,477,412. The company has a quick ratio of 1.19, a current ratio of 2.05 and a debt-to-equity ratio of 0.76. The stock’s fifty day moving average price is $83.15 and its 200-day moving average price is $86.92. The firm has a market cap of $35.69 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 2.51 and a beta of 1.16. VF Corp has a one year low of $67.18 and a one year high of $96.20.

VF (NYSE:VFC) last posted its quarterly earnings data on Wednesday, July 24th. The textile maker reported $0.30 EPS for the quarter, topping the consensus estimate of $0.28 by $0.02. VF had a return on equity of 34.52% and a net margin of 8.62%. The firm had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts predict that VF Corp will post 3.37 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, September 10th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.90%. The ex-dividend date is Monday, September 9th. VF’s dividend payout ratio is 45.50%.

VF Profile

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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