10,139 Shares in V.F. Co. (NYSE:VFC) Purchased by Summit Financial LLC

Summit Financial LLC acquired a new stake in V.F. Co. (NYSE:VFC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,139 shares of the textile maker’s stock, valued at approximately $137,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. V Square Quantitative Management LLC boosted its holdings in shares of V.F. by 8.9% in the second quarter. V Square Quantitative Management LLC now owns 10,803 shares of the textile maker’s stock valued at $146,000 after purchasing an additional 879 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of V.F. by 50.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,681 shares of the textile maker’s stock worth $41,000 after buying an additional 895 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of V.F. by 0.9% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 106,281 shares of the textile maker’s stock valued at $1,630,000 after acquiring an additional 959 shares in the last quarter. Ieq Capital LLC lifted its stake in V.F. by 7.7% in the fourth quarter. Ieq Capital LLC now owns 14,228 shares of the textile maker’s stock worth $267,000 after acquiring an additional 1,019 shares during the period. Finally, Royal London Asset Management Ltd. grew its holdings in V.F. by 0.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 137,480 shares of the textile maker’s stock worth $2,585,000 after acquiring an additional 1,079 shares in the last quarter. 86.84% of the stock is currently owned by institutional investors.

V.F. Price Performance

Shares of NYSE:VFC opened at $18.00 on Thursday. V.F. Co. has a twelve month low of $11.00 and a twelve month high of $20.69. The company has a current ratio of 0.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.84. The company has a market cap of $7.01 billion, a PE ratio of -7.20, a price-to-earnings-growth ratio of 1.88 and a beta of 1.53. The company’s 50 day moving average is $15.97 and its 200 day moving average is $14.60.

V.F. (NYSE:VFC) last issued its earnings results on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.04. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.85 billion. V.F. had a negative net margin of 11.39% and a positive return on equity of 11.75%. The firm’s revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.15) earnings per share. On average, sell-side analysts forecast that V.F. Co. will post 0.79 EPS for the current year.

V.F. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 10th will be paid a $0.09 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.00%. V.F.’s payout ratio is -14.40%.

Analyst Ratings Changes

Several research firms have recently commented on VFC. Barclays boosted their price target on shares of V.F. from $12.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. The Goldman Sachs Group lowered their target price on V.F. from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, May 23rd. BMO Capital Markets lifted their price target on V.F. from $13.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Bank of America decreased their price target on shares of V.F. from $13.00 to $11.00 and set an “underperform” rating for the company in a research report on Thursday, May 23rd. Finally, Telsey Advisory Group lifted their price objective on shares of V.F. from $15.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.50.

Insider Buying and Selling

In related news, Director Richard Carucci purchased 15,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was bought at an average cost of $16.70 per share, with a total value of $250,500.00. Following the completion of the acquisition, the director now owns 230,178 shares of the company’s stock, valued at approximately $3,843,972.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other V.F. news, insider Bracken Darrell purchased 75,200 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average price of $13.26 per share, for a total transaction of $997,152.00. Following the purchase, the insider now directly owns 219,972 shares in the company, valued at $2,916,828.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Carucci purchased 15,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were acquired at an average price of $16.70 per share, for a total transaction of $250,500.00. Following the transaction, the director now directly owns 230,178 shares of the company’s stock, valued at approximately $3,843,972.60. The disclosure for this purchase can be found here. Insiders have purchased a total of 115,200 shares of company stock valued at $1,592,152 over the last ninety days. Company insiders own 0.70% of the company’s stock.

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.