Tower Research Capital LLC TRC lifted its holdings in VF Corp (NYSE:VFC) by 3,039.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,697 shares of the textile maker’s stock after purchasing an additional 15,197 shares during the quarter. Tower Research Capital LLC TRC’s holdings in VF were worth $1,280,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of VFC. Hilltop Holdings Inc. bought a new stake in VF in the second quarter worth $239,000. Signaturefd LLC lifted its position in VF by 290.8% in the second quarter. Signaturefd LLC now owns 3,466 shares of the textile maker’s stock worth $283,000 after buying an additional 2,579 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in VF by 349.7% in the second quarter. Cubist Systematic Strategies LLC now owns 19,109 shares of the textile maker’s stock worth $1,558,000 after buying an additional 14,860 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in VF in the second quarter worth $152,000. Finally, OLD Mission Capital LLC bought a new stake in VF in the second quarter worth $300,000. 83.95% of the stock is owned by hedge funds and other institutional investors.
Shares of VFC opened at $91.17 on Friday. The firm has a market cap of $35.54 billion, a PE ratio of 26.84, a P/E/G ratio of 2.32 and a beta of 0.98. VF Corp has a 12-month low of $61.56 and a 12-month high of $97.00. The company has a quick ratio of 0.78, a current ratio of 1.45 and a debt-to-equity ratio of 0.58.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 20th. Investors of record on Monday, September 10th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Friday, September 7th. This represents a $1.84 annualized dividend and a dividend yield of 2.02%. VF’s payout ratio is currently 61.74%.
A number of analysts recently issued reports on the company. Canaccord Genuity set a $108.00 price target on VF and gave the stock a “buy” rating in a research report on Monday, July 23rd. Citigroup raised their price target on VF from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, July 23rd. Telsey Advisory Group raised their price target on VF from $86.00 to $107.00 and gave the stock an “outperform” rating in a research report on Monday, July 23rd. Barclays raised their price target on VF from $89.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday, July 23rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $103.00 target price on shares of VF in a research report on Monday, July 23rd. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. VF currently has an average rating of “Buy” and an average price target of $94.61.
In related news, VP Kevin Bailey sold 4,400 shares of VF stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $91.95, for a total value of $404,580.00. Following the completion of the sale, the vice president now directly owns 28,861 shares in the company, valued at $2,653,768.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laura C. Meagher sold 69,357 shares of VF stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $93.05, for a total value of $6,453,668.85. Following the completion of the sale, the insider now owns 36,369 shares of the company’s stock, valued at $3,384,135.45. The disclosure for this sale can be found here. Insiders sold 128,533 shares of company stock valued at $11,932,040 over the last 90 days. 1.72% of the stock is currently owned by corporate insiders.
VF Corp. designs, produces, procures, markets and distributes lifestyle apparel, footwear and related products. It operates through the following segments: Outdoor & Action Sports, Jeanswear, Imagewear and Others. The Outdoor & Action Sports segment refers to outdoor and activity-based lifestyle brands including performance-based apparel, footwear, equipment, backpacks, luggage and accessories.
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