Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in V.F. Co. (NYSE:VFC – Get Rating) by 116.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,128 shares of the textile maker’s stock after purchasing an additional 23,764 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in V.F. were worth $1,949,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in VFC. Capital International Investors boosted its position in shares of V.F. by 81.8% in the 4th quarter. Capital International Investors now owns 21,740,758 shares of the textile maker’s stock worth $1,591,858,000 after purchasing an additional 9,782,346 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of V.F. by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 40,200,890 shares of the textile maker’s stock worth $2,285,822,000 after purchasing an additional 5,626,337 shares during the last quarter. Norges Bank bought a new position in shares of V.F. in the 4th quarter worth $213,383,000. Diamond Hill Capital Management Inc. lifted its holdings in V.F. by 29.2% during the first quarter. Diamond Hill Capital Management Inc. now owns 7,628,798 shares of the textile maker’s stock worth $433,773,000 after acquiring an additional 1,723,365 shares in the last quarter. Finally, State Street Corp lifted its holdings in V.F. by 9.8% during the fourth quarter. State Street Corp now owns 17,918,285 shares of the textile maker’s stock worth $1,311,977,000 after acquiring an additional 1,596,886 shares in the last quarter. 87.01% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research firms have weighed in on VFC. JPMorgan Chase & Co. reduced their target price on V.F. from $47.00 to $44.00 in a report on Friday, September 16th. Stifel Nicolaus lifted their target price on V.F. from $42.00 to $43.00 in a report on Wednesday, July 20th. Telsey Advisory Group reduced their target price on V.F. from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, July 29th. Cowen lowered V.F. from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $52.00 to $50.00 in a report on Monday, August 22nd. Finally, The Goldman Sachs Group reduced their target price on V.F. from $40.00 to $35.00 and set a “sell” rating on the stock in a report on Thursday, July 21st. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, V.F. presently has an average rating of “Hold” and a consensus price target of $57.44.
V.F. Price Performance
V.F. Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Monday, September 12th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date was Friday, September 9th. V.F.’s dividend payout ratio is currently 77.82%.
Insider Activity at V.F.
In related news, Director Richard Carucci bought 10,000 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were acquired at an average price of $41.44 per share, with a total value of $414,400.00. Following the completion of the transaction, the director now owns 115,528 shares in the company, valued at $4,787,480.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other V.F. news, Director Richard Carucci purchased 10,000 shares of the stock in a transaction on Friday, August 26th. The shares were purchased at an average price of $41.44 per share, with a total value of $414,400.00. Following the completion of the transaction, the director now directly owns 115,528 shares in the company, valued at $4,787,480.32. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director W Rodney Mcmullen purchased 6,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were acquired at an average cost of $44.76 per share, for a total transaction of $268,560.00. Following the transaction, the director now owns 34,146 shares of the company’s stock, valued at $1,528,374.96. The disclosure for this purchase can be found here. 0.90% of the stock is owned by company insiders.
V.F. Corporation, together with its subsidiaries, engages in the design, 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 three segments: Outdoor, Active, and Work.
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