Sumitomo Mitsui Trust Holdings Inc. Acquires 35,471 Shares of VF Corp (VFC)

Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of VF Corp (NYSE:VFC) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,155,113 shares of the textile maker’s stock after purchasing an additional 35,471 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.29% of VF worth $107,945,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in VFC. Charles Schwab Investment Advisory Inc. acquired a new position in VF during the second quarter worth $352,007,000. Waddell & Reed Financial Inc. boosted its holdings in VF by 1,233.7% during the second quarter. Waddell & Reed Financial Inc. now owns 3,008,805 shares of the textile maker’s stock worth $245,278,000 after purchasing an additional 2,783,208 shares during the last quarter. BlackRock Inc. boosted its holdings in VF by 9.6% during the second 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. FMR LLC boosted its holdings in VF by 106.9% during the second 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. Finally, Janus Henderson Group PLC boosted its holdings in VF by 89.6% during the second 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.

Shares of VFC stock opened at $83.86 on Thursday. The firm has a market capitalization of $33.17 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.01 and a beta of 1.01. The company has a quick ratio of 0.90, a current ratio of 1.54 and a debt-to-equity ratio of 0.51. VF Corp has a one year low of $69.43 and a one year high of $97.00.

VF (NYSE:VFC) last announced its quarterly earnings results on Friday, October 19th. The textile maker reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.87 billion. VF had a net margin of 6.20% and a return on equity of 37.08%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.23 earnings per share. As a group, equities research analysts predict that VF Corp will post 3.72 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Monday, December 10th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $2.04 dividend on an annualized basis and a yield of 2.43%. This is a boost from VF’s previous quarterly dividend of $0.46. VF’s dividend payout ratio (DPR) is currently 61.74%.

Several research analysts recently commented on VFC shares. Bank of America set a $105.00 target price on shares of VF and gave the stock a “buy” rating in a report on Thursday, September 13th. Wedbush started coverage on shares of VF in a report on Monday, October 15th. They set a “neutral” rating and a $94.00 target price for the company. They noted that the move was a valuation call. Citigroup reduced their target price on shares of VF from $95.00 to $92.00 and set a “neutral” rating for the company in a report on Monday, October 22nd. Canaccord Genuity set a $108.00 target price on shares of VF and gave the stock a “buy” rating in a report on Monday, October 22nd. Finally, Royal Bank of Canada reduced their target price on shares of VF to $88.00 and set an “outperform” rating for the company in a report on Tuesday, October 23rd. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $95.17.

In related news, Director Richard Carucci bought 5,000 shares of the business’s stock in a transaction dated Wednesday, October 24th. The stock was bought at an average price of $78.65 per share, for a total transaction of $393,250.00. Following the purchase, the director now owns 48,190 shares in the company, valued at approximately $3,790,143.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott A. Roe sold 29,544 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $92.78, for a total transaction of $2,741,092.32. Following the sale, the chief financial officer now owns 102,165 shares of the company’s stock, valued at approximately $9,478,868.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,176 shares of company stock valued at $5,478,371. 1.72% of the stock is currently owned by corporate insiders.

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VF Company 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.

Further Reading: Return on Investment (ROI)

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Institutional Ownership by Quarter for VF (NYSE:VFC)

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