TD Asset Management Inc. Cuts Stake in VF Corp (VFC)

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TD Asset Management Inc. trimmed its position in shares of VF Corp (NYSE:VFC) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 676,539 shares of the textile maker’s stock after selling 56,766 shares during the period. TD Asset Management Inc.’s holdings in VF were worth $58,798,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VFC. Vanguard Group Inc grew its holdings in VF by 2.0% during the 3rd quarter. Vanguard Group Inc now owns 26,944,256 shares of the textile maker’s stock worth $2,517,940,000 after acquiring an additional 538,916 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in VF by 5,538.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,592,716 shares of the textile maker’s stock worth $106,000 after acquiring an additional 7,458,056 shares in the last quarter. Parnassus Investments CA grew its holdings in VF by 1.1% during the 4th quarter. Parnassus Investments CA now owns 7,232,841 shares of the textile maker’s stock worth $515,990,000 after acquiring an additional 77,942 shares in the last quarter. FMR LLC grew its holdings in VF by 12.5% during the 4th quarter. FMR LLC now owns 6,169,339 shares of the textile maker’s stock worth $440,121,000 after acquiring an additional 687,095 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in VF by 182.3% during the 4th quarter. Bank of America Corp DE now owns 5,308,262 shares of the textile maker’s stock worth $378,691,000 after acquiring an additional 3,427,860 shares in the last quarter.

In other news, VP Scott H. Baxter sold 51,911 shares of VF stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $84.25, for a total value of $4,373,501.75. Following the completion of the transaction, the vice president now directly owns 201,972 shares of the company’s stock, valued at approximately $17,016,141. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.72% of the company’s stock.

Shares of NYSE VFC traded down $3.35 during midday trading on Wednesday, hitting $88.75. The company’s stock had a trading volume of 86,011 shares, compared to its average volume of 2,034,690. VF Corp has a 1-year low of $67.18 and a 1-year high of $97.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.80. The firm has a market capitalization of $35.92 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 1.88 and a beta of 1.15.

VF (NYSE:VFC) last posted its quarterly earnings results on Wednesday, May 22nd. The textile maker reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. VF had a net margin of 10.11% and a return on equity of 38.84%. The business had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the business posted $0.67 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts forecast that VF Corp will post 3.75 earnings per share for the current year.

Several research analysts have weighed in on the stock. Goldman Sachs Group assumed coverage on shares of VF in a report on Friday, May 17th. They set a “buy” rating and a $97.00 price objective for the company. UBS Group raised their price objective on shares of VF from $84.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. Wedbush raised their price objective on shares of VF from $90.00 to $98.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Citigroup reissued a “neutral” rating and set a $85.00 price objective (down from $90.00) on shares of VF in a report on Monday, March 18th. Finally, Cowen raised their price objective on shares of VF from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, February 19th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $92.95.

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About VF

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.

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Institutional Ownership by Quarter for VF (NYSE:VFC)

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