Daiwa Securities Group Inc. Sells 19,421 Shares of V.F. Co. (NYSE:VFC)

Daiwa Securities Group Inc. decreased its position in shares of V.F. Co. (NYSE:VFC) by 64.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,877 shares of the textile maker’s stock after selling 19,421 shares during the period. Daiwa Securities Group Inc.’s holdings in V.F. were worth $167,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in V.F. by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 41,239,841 shares of the textile maker’s stock worth $728,708,000 after acquiring an additional 475,239 shares during the period. M&G Investment Management Ltd. raised its stake in V.F. by 19.4% during the 4th quarter. M&G Investment Management Ltd. now owns 12,413,169 shares of the textile maker’s stock worth $235,850,000 after acquiring an additional 2,016,470 shares during the period. Wells Fargo & Company MN raised its stake in V.F. by 12.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,281,957 shares of the textile maker’s stock worth $80,501,000 after acquiring an additional 473,952 shares during the period. Norges Bank bought a new stake in V.F. during the 4th quarter worth approximately $76,059,000. Finally, Charles Schwab Investment Management Inc. raised its stake in V.F. by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,265,581 shares of the textile maker’s stock worth $61,393,000 after acquiring an additional 166,769 shares during the period. Institutional investors own 86.84% of the company’s stock.

Insider Buying and Selling

In related news, insider Bracken Darrell purchased 75,200 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was bought at an average cost of $13.26 per share, for a total transaction of $997,152.00. Following the completion of the transaction, the insider now directly owns 219,972 shares in the company, valued at $2,916,828.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other V.F. news, insider Bracken Darrell bought 75,200 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was acquired at an average cost of $13.26 per share, for a total transaction of $997,152.00. Following the completion of the transaction, the insider now owns 219,972 shares in the company, valued at $2,916,828.72. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard Carucci bought 25,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were acquired at an average price of $13.78 per share, with a total value of $344,500.00. Following the completion of the transaction, the director now owns 215,130 shares of the company’s stock, valued at approximately $2,964,491.40. The disclosure for this purchase can be found here. 0.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VFC. StockNews.com lowered shares of V.F. from a “hold” rating to a “sell” rating in a report on Monday, May 27th. Wells Fargo & Company cut their price objective on shares of V.F. from $14.00 to $11.00 and set an “equal weight” rating for the company in a report on Thursday, May 23rd. Stifel Nicolaus cut their price objective on shares of V.F. from $22.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Barclays cut their price objective on shares of V.F. from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday, May 24th. Finally, UBS Group cut their price objective on shares of V.F. from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, May 28th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, V.F. has an average rating of “Hold” and an average target price of $13.06.

V.F. Price Performance

Shares of VFC opened at $13.75 on Friday. The business has a fifty day moving average of $13.14 and a 200 day moving average of $14.64. V.F. Co. has a 52-week low of $11.00 and a 52-week high of $21.17. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.71 and a current ratio of 1.22.

V.F. (NYSE:VFC) last issued its quarterly earnings results on Wednesday, May 22nd. The textile maker reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.34). The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.42 billion. V.F. had a positive return on equity of 13.14% and a negative net margin of 9.27%. The firm’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 earnings per share. On average, research analysts predict that V.F. Co. will post 0.85 EPS for the current fiscal year.

V.F. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Monday, June 10th were given a $0.09 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.36 dividend on an annualized basis and a yield of 2.62%. V.F.’s dividend payout ratio is presently -14.40%.

About V.F.

V.F. Corporation, together with its subsidiaries, engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and accessories for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.