Richard Carucci Buys 30,000 Shares of V.F. (NYSE:VFC) Stock

V.F. Corporation (NYSE:VFC) Director Richard Carucci bought 30,000 shares of V.F. stock in a transaction on Tuesday, June 9th. The shares were acquired at an average price of $17.17 per share, for a total transaction of $515,100.00. Following the completion of the acquisition, the director owned 336,043 shares in the company, valued at $5,769,858.31. This represents a 9.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

V.F. Stock Down 3.4%

V.F. stock traded down $0.58 during mid-day trading on Wednesday, reaching $16.44. 4,772,666 shares of the company’s stock were exchanged, compared to its average volume of 7,169,080. The company has a market cap of $6.44 billion, a P/E ratio of 25.68, a P/E/G ratio of 1.34 and a beta of 1.57. V.F. Corporation has a twelve month low of $11.06 and a twelve month high of $22.27. The company has a quick ratio of 1.21, a current ratio of 1.84 and a debt-to-equity ratio of 1.90. The company has a fifty day moving average of $17.94 and a 200-day moving average of $18.42.

V.F. (NYSE:VFC) last released its earnings results on Wednesday, May 20th. The textile maker reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.28). The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. V.F. had a return on equity of 21.05% and a net margin of 2.65%.V.F.’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.13) earnings per share. Sell-side analysts expect that V.F. Corporation will post 1.1 EPS for the current year.

V.F. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Wednesday, June 10th will be given a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.2%. V.F.’s dividend payout ratio is currently 56.25%.

Institutional Trading of V.F.

Several hedge funds and other institutional investors have recently made changes to their positions in VFC. Segall Bryant & Hamill LLC increased its holdings in V.F. by 43.4% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 4,938,084 shares of the textile maker’s stock valued at $71,257,000 after acquiring an additional 1,495,148 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in V.F. by 14.0% during the 4th quarter. Russell Investments Group Ltd. now owns 659,773 shares of the textile maker’s stock valued at $11,930,000 after acquiring an additional 81,006 shares in the last quarter. Fiduciary Alliance LLC increased its holdings in V.F. by 10.3% during the 4th quarter. Fiduciary Alliance LLC now owns 647,496 shares of the textile maker’s stock valued at $11,707,000 after acquiring an additional 60,619 shares in the last quarter. New York State Common Retirement Fund increased its holdings in V.F. by 0.8% during the 4th quarter. New York State Common Retirement Fund now owns 540,861 shares of the textile maker’s stock valued at $9,779,000 after acquiring an additional 4,249 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in V.F. during the 1st quarter valued at about $3,209,000. Institutional investors and hedge funds own 86.84% of the company’s stock.

Analysts Set New Price Targets

VFC has been the topic of a number of recent analyst reports. Citigroup started coverage on shares of V.F. in a research report on Thursday, May 21st. They issued a “neutral” rating and a $18.00 price objective on the stock. Wells Fargo & Company lowered their price objective on shares of V.F. from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 21st. Barclays reduced their target price on shares of V.F. from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. UBS Group reduced their target price on shares of V.F. from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, May 21st. Finally, Evercore set a $18.00 price objective on shares of V.F. in a research note on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.58.

V.F. Company Profile

VF Corporation, commonly branded as VF, is a global apparel and footwear company that develops, markets and distributes a diverse portfolio of consumer brands. Its offerings span outdoor and action sports apparel, footwear and accessories under marquee names such as The North Face, Vans, Timberland, Dickies, JanSport and Smartwool. Through a “house of brands” strategy, VF leverages the unique heritage and design expertise of each label to serve distinct lifestyle and performance segments.

Founded in 1899 in Pennsylvania as the Reading Glove and Mitten Manufacturing Company, VF evolved through a series of acquisitions and strategic expansions to become a leading player in the global apparel industry.