Martin Investment Management LLC cut its stake in shares of V.F. Corporation (NYSE:VFC) by 23.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 160,902 shares of the textile maker’s stock after selling 48,147 shares during the period. V.F. Corporation comprises 2.5% of Martin Investment Management LLC’s investment portfolio, making the stock its 29th largest position. Martin Investment Management LLC’s holdings in V.F. Corporation were worth $8,845,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the stock. Parnassus Investments CA boosted its stake in V.F. Corporation by 25.5% in the first quarter. Parnassus Investments CA now owns 13,480,236 shares of the textile maker’s stock valued at $724,090,000 after buying an additional 2,740,485 shares during the period. Victory Capital Management Inc. boosted its stake in V.F. Corporation by 12,957.2% in the first quarter. Victory Capital Management Inc. now owns 2,675,683 shares of the textile maker’s stock valued at $147,083,000 after buying an additional 2,655,191 shares during the period. Bank of New York Mellon Corp boosted its stake in V.F. Corporation by 21.2% in the first quarter. Bank of New York Mellon Corp now owns 5,808,796 shares of the textile maker’s stock valued at $319,309,000 after buying an additional 1,017,375 shares during the period. Thomaspartners Inc. boosted its stake in V.F. Corporation by 12.3% in the first quarter. Thomaspartners Inc. now owns 3,945,435 shares of the textile maker’s stock valued at $216,881,000 after buying an additional 432,983 shares during the period. Finally, NN Investment Partners Holdings N.V. boosted its stake in V.F. Corporation by 196.9% in the first quarter. NN Investment Partners Holdings N.V. now owns 590,408 shares of the textile maker’s stock valued at $32,454,000 after buying an additional 391,527 shares during the period. Institutional investors own 91.06% of the company’s stock.
V.F. Corporation (VFC) opened at 56.33 on Friday. The company’s 50-day moving average price is $54.07 and its 200 day moving average price is $53.64. V.F. Corporation has a 52-week low of $48.05 and a 52-week high of $65.28. The firm has a market capitalization of $22.56 billion, a price-to-earnings ratio of 22.96 and a beta of 0.73.
V.F. Corporation (NYSE:VFC) last released its earnings results on Friday, April 28th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.73 billion. V.F. Corporation had a net margin of 8.67% and a return on equity of 26.78%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 earnings per share. Equities research analysts predict that V.F. Corporation will post $2.92 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 19th. Stockholders of record on Friday, June 9th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $1.68 annualized dividend and a dividend yield of 2.98%. V.F. Corporation’s payout ratio is 68.85%.
VFC has been the subject of several recent analyst reports. Vetr cut V.F. Corporation from a “sell” rating to a “strong sell” rating and set a $49.00 price target for the company. in a report on Tuesday, April 11th. Cowen and Company lifted their price target on V.F. Corporation from $52.00 to $56.00 and gave the company a “market perform” rating in a report on Tuesday, April 4th. Morgan Stanley upgraded V.F. Corporation from an “underweight” rating to an “equal weight” rating and set a $50.00 price target for the company in a report on Wednesday, February 22nd. They noted that the move was a valuation call. Stifel Nicolaus restated a “hold” rating and issued a $56.00 price target on shares of V.F. Corporation in a report on Sunday, April 23rd. Finally, Susquehanna Bancshares Inc restated a “neutral” rating and issued a $49.00 price target (down previously from $52.00) on shares of V.F. Corporation in a report on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the stock. V.F. Corporation currently has a consensus rating of “Hold” and an average target price of $56.44.
V.F. Corporation Company Profile
V.F. Corporation (VF) is engaged in the design, production, procurement, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear and Sportswear. Its Outdoor & Action Sports Coalition is a group of authentic outdoor and activity-based lifestyle brands.
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