Raymond James Trust N.A. Cuts Stake in VF Corp (NYSE:VFC)

Raymond James Trust N.A. lowered its stake in shares of VF Corp (NYSE:VFC) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,822 shares of the textile maker’s stock after selling 657 shares during the period. Raymond James Trust N.A.’s holdings in VF were worth $4,865,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Doyle Wealth Management acquired a new position in shares of VF in the 2nd quarter valued at $32,000. Independence Bank of Kentucky acquired a new stake in shares of VF in the 3rd quarter worth $34,000. Mechanics Bank Trust Department acquired a new stake in shares of VF in the 3rd quarter worth $38,000. Prime Capital Investment Advisors LLC lifted its stake in shares of VF by 33.9% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 518 shares of the textile maker’s stock worth $46,000 after acquiring an additional 131 shares during the period. Finally, Stonebridge Capital Advisors LLC acquired a new stake in shares of VF in the 2nd quarter worth $49,000.

NYSE:VFC traded up $0.60 during mid-day trading on Tuesday, hitting $96.53. 1,636,015 shares of the company’s stock traded hands, compared to its average volume of 2,208,921. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.20 and a current ratio of 1.99. The firm’s 50 day simple moving average is $94.50 and its 200 day simple moving average is $88.22. VF Corp has a 1 year low of $71.38 and a 1 year high of $100.25. The company has a market cap of $37.96 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 2.51 and a beta of 1.19.

VF (NYSE:VFC) last posted its earnings results on Friday, October 25th. The textile maker reported $1.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.04). The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.42 billion. VF had a net margin of 10.07% and a return on equity of 32.04%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 earnings per share. On average, research analysts expect that VF Corp will post 3.36 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Tuesday, December 10th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Monday, December 9th. This is a positive change from VF’s previous quarterly dividend of $0.43. VF’s payout ratio is 50.79%.

In other VF news, Director Clarence Otis, Jr. sold 16,930 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $91.14, for a total transaction of $1,543,000.20. Following the completion of the sale, the director now owns 25,722 shares in the company, valued at $2,344,303.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven E. Rendle sold 155,582 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $91.40, for a total transaction of $14,220,194.80. Following the sale, the chief executive officer now owns 302,013 shares of the company’s stock, valued at approximately $27,603,988.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 193,826 shares of company stock valued at $17,535,241. 0.74% of the stock is owned by insiders.

VFC has been the subject of several recent analyst reports. Guggenheim restated a “buy” rating on shares of VF in a research note on Tuesday, December 10th. Credit Suisse Group increased their price target on shares of VF from $104.00 to $116.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Wedbush downgraded shares of VF from an “outperform” rating to a “neutral” rating and set a $98.00 price target for the company. in a report on Wednesday, January 8th. They noted that the move was a valuation call. ValuEngine downgraded shares of VF from a “buy” rating to a “hold” rating in a report on Friday, November 29th. Finally, Susquehanna Bancshares increased their price target on shares of VF from $105.00 to $119.00 and gave the company a “buy” rating in a report on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $100.77.

About VF

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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