First Citizens Bank & Trust Co. Buys New Stake in VF Corp (VFC)

First Citizens Bank & Trust Co. bought a new stake in VF Corp (NYSE:VFC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 24,600 shares of the textile maker’s stock, valued at approximately $2,299,000.

A number of other institutional investors have also recently modified their holdings of VFC. Private Capital Group LLC increased its position in VF by 5,303.7% in the 1st quarter. Private Capital Group LLC now owns 1,459 shares of the textile maker’s stock valued at $108,000 after buying an additional 1,432 shares in the last quarter. Fort L.P. bought a new stake in VF in the 2nd quarter valued at about $119,000. Centaurus Financial Inc. bought a new stake in VF in the 2nd quarter valued at about $119,000. Parallel Advisors LLC increased its position in VF by 154.8% in the 2nd quarter. Parallel Advisors LLC now owns 1,814 shares of the textile maker’s stock valued at $147,000 after buying an additional 1,102 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in VF in the 2nd quarter valued at about $152,000.

In related news, VP Kevin Bailey sold 4,400 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $91.95, for a total value of $404,580.00. Following the transaction, the vice president now owns 28,861 shares in the company, valued at $2,653,768.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Laura C. Meagher sold 69,357 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 36,369 shares in the company, valued at approximately $3,384,135.45. The disclosure for this sale can be found here. Insiders sold a total of 128,533 shares of company stock worth $11,932,040 in the last 90 days. Company insiders own 1.72% of the company’s stock.

Shares of NYSE VFC traded down $2.02 during midday trading on Thursday, reaching $87.26. The company’s stock had a trading volume of 179,888 shares, compared to its average volume of 2,399,649. VF Corp has a 12-month low of $64.63 and a 12-month high of $97.00. The company has a market capitalization of $37.05 billion, a PE ratio of 29.88, a PEG ratio of 2.42 and a beta of 0.96. The company has a quick ratio of 0.78, a current ratio of 1.45 and a debt-to-equity ratio of 0.58.

VF (NYSE:VFC) last announced its earnings results on Friday, July 20th. The textile maker reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. VF had a return on equity of 35.37% and a net margin of 5.46%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the previous year, the business earned $0.29 EPS. The company’s revenue was up 22.9% compared to the same quarter last year. As a group, research analysts expect that VF Corp will post 3.61 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 20th. Stockholders of record on Monday, September 10th were paid a $0.46 dividend. The ex-dividend date was Friday, September 7th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.11%. VF’s payout ratio is presently 61.74%.

VFC has been the subject of a number of research analyst reports. Bank of America raised VF from an “underperform” rating to a “buy” rating and set a $96.00 target price for the company in a research report on Friday, July 13th. Deutsche Bank initiated coverage on VF in a research note on Thursday, July 12th. They set a “buy” rating and a $93.00 price target for the company. Canaccord Genuity reiterated a “buy” rating and set a $92.00 price target on shares of VF in a research note on Thursday, July 12th. Goldman Sachs Group initiated coverage on VF in a research note on Monday, June 25th. They set a “buy” rating and a $96.00 price target for the company. Finally, Stifel Nicolaus lifted their price target on VF from $91.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 17th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. VF presently has a consensus rating of “Buy” and a consensus target price of $95.00.

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.

See Also: Risk Tolerance

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Institutional Ownership by Quarter for VF (NYSE:VFC)

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