Maryland State Retirement & Pension System Buys 116,923 Shares of V.F. Co. (NYSE:VFC)

Maryland State Retirement & Pension System grew its position in shares of V.F. Co. (NYSE:VFC) by 434.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,831 shares of the textile maker’s stock after purchasing an additional 116,923 shares during the period. Maryland State Retirement & Pension System’s holdings in V.F. were worth $2,206,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC raised its holdings in V.F. by 2,835.6% during the 4th quarter. Wolff Wiese Magana LLC now owns 1,321 shares of the textile maker’s stock valued at $25,000 after buying an additional 1,276 shares during the period. Eagle Bay Advisors LLC bought a new stake in shares of V.F. in the 4th quarter worth about $25,000. Mather Group LLC. purchased a new position in shares of V.F. during the 1st quarter worth about $27,000. Allworth Financial LP grew its holdings in V.F. by 111.5% during the 4th quarter. Allworth Financial LP now owns 1,817 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 958 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in V.F. in the 1st quarter worth about $31,000. 86.84% of the stock is owned by institutional investors.

V.F. Stock Performance

Shares of VFC stock traded up $0.08 during mid-day trading on Friday, reaching $13.08. The stock had a trading volume of 524,469 shares, compared to its average volume of 8,791,834. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 2.84. V.F. Co. has a 1-year low of $11.00 and a 1-year high of $21.17. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of -5.20, a PEG ratio of 1.00 and a beta of 1.53. The business’s fifty day moving average is $13.06 and its 200-day moving average is $14.86.

V.F. (NYSE:VFC) last posted its quarterly earnings results on Wednesday, May 22nd. The textile maker reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.34). The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.42 billion. V.F. had a positive return on equity of 13.14% and a negative net margin of 9.27%. The business’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 earnings per share. On average, research analysts forecast that V.F. Co. will post 0.85 earnings per share for the current year.

V.F. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, June 10th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Monday, June 10th. V.F.’s dividend payout ratio is currently -14.40%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on VFC shares. The Goldman Sachs Group cut their target price on V.F. from $12.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, May 23rd. Telsey Advisory Group reissued a “market perform” rating and set a $13.00 target price (down previously from $18.00) on shares of V.F. in a research report on Thursday, May 23rd. StockNews.com cut shares of V.F. from a “hold” rating to a “sell” rating in a research report on Monday, May 27th. Stifel Nicolaus reduced their price objective on shares of V.F. from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Finally, Citigroup dropped their target price on V.F. from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.06.

Insider Buying and Selling at V.F.

In related news, insider Bracken Darrell bought 75,200 shares of the stock in a transaction dated Monday, June 10th. The shares were purchased at an average price of $13.26 per share, for a total transaction of $997,152.00. Following the completion of the purchase, the insider now directly owns 219,972 shares of the company’s stock, valued at $2,916,828.72. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Richard Carucci bought 25,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were bought at an average cost of $13.78 per share, for a total transaction of $344,500.00. Following the acquisition, the director now directly owns 215,130 shares of the company’s stock, valued at approximately $2,964,491.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bracken Darrell acquired 75,200 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average price of $13.26 per share, with a total value of $997,152.00. Following the completion of the transaction, the insider now directly owns 219,972 shares of the company’s stock, valued at approximately $2,916,828.72. The disclosure for this purchase can be found here. Company insiders own 0.70% of the company’s stock.

About V.F.

V.F. Corporation, together with its subsidiaries, engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and accessories for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.