Oak Ridge Investments LLC raised its stake in V.F. Corporation (NYSE:VFC) by 27.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 176,542 shares of the textile maker’s stock after purchasing an additional 37,613 shares during the quarter. Oak Ridge Investments LLC’s holdings in V.F. Corporation were worth $11,223,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of VFC. Dimensional Fund Advisors LP boosted its stake in shares of V.F. Corporation by 8.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 746,919 shares of the textile maker’s stock worth $41,054,000 after acquiring an additional 60,757 shares during the period. Whittier Trust Co. raised its holdings in V.F. Corporation by 0.7% in the 2nd quarter. Whittier Trust Co. now owns 63,069 shares of the textile maker’s stock valued at $3,632,000 after acquiring an additional 467 shares in the last quarter. Gulf International Bank UK Ltd raised its holdings in shares of V.F. Corporation by 1.5% during the 2nd quarter. Gulf International Bank UK Ltd now owns 106,058 shares of the textile maker’s stock worth $6,108,000 after buying an additional 1,600 shares in the last quarter. Bridges Investment Counsel Inc. acquired a new position in V.F. Corporation in the 2nd quarter worth about $893,000. Finally, PGGM Investments grew its position in shares of V.F. Corporation by 220.9% in the 2nd quarter. PGGM Investments now owns 680,333 shares of the textile maker’s stock valued at $39,187,000 after buying an additional 468,299 shares during the last quarter.
Shares of V.F. Corporation (NYSE:VFC) traded up $0.45 on Friday, reaching $70.08. 2,769,300 shares of the company’s stock were exchanged, compared to its average volume of 3,095,656. The stock has a market cap of $28,020.00, a price-to-earnings ratio of 22.91, a PEG ratio of 2.36 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.97 and a current ratio of 1.47. V.F. Corporation has a 1-year low of $48.05 and a 1-year high of $71.95.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Friday, December 8th will be issued a $0.46 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.84 annualized dividend and a yield of 2.63%. This is an increase from V.F. Corporation’s previous quarterly dividend of $0.42. V.F. Corporation’s dividend payout ratio is currently 69.71%.
VFC has been the topic of several research analyst reports. UBS AG upped their target price on V.F. Corporation from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Canaccord Genuity raised V.F. Corporation from a “hold” rating to a “buy” rating and increased their price objective for the stock from $58.00 to $73.00 in a research note on Monday, August 14th. Pivotal Research assumed coverage on V.F. Corporation in a research report on Thursday, October 5th. They set a “buy” rating and a $75.00 price target for the company. Susquehanna Bancshares Inc reissued a “buy” rating and set a $75.00 price objective on shares of V.F. Corporation in a report on Monday, October 16th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of V.F. Corporation in a report on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $65.45.
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In related news, Director W Alan Mccollough sold 22,852 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $62.94, for a total value of $1,438,304.88. Following the completion of the transaction, the director now owns 36,353 shares of the company’s stock, valued at approximately $2,288,057.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven E. Rendle sold 65,604 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $70.57, for a total transaction of $4,629,674.28. Following the completion of the transaction, the chief executive officer now directly owns 162,235 shares of the company’s stock, valued at approximately $11,448,923.95. The disclosure for this sale can be found here. Insiders sold a total of 548,960 shares of company stock valued at $35,622,427 in the last ninety days. 1.60% of the stock is currently owned by insiders.
About V.F. Corporation
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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