Allspring Global Investments Holdings LLC Sells 15,039 Shares of V.F. Co. (NYSE:VFC)

Allspring Global Investments Holdings LLC cut its holdings in shares of V.F. Co. (NYSE:VFC) by 88.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,004 shares of the textile maker’s stock after selling 15,039 shares during the period. Allspring Global Investments Holdings LLC’s holdings in V.F. were worth $27,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of V.F. by 23.6% in the second quarter. Bank of New York Mellon Corp now owns 2,481,600 shares of the textile maker’s stock worth $33,502,000 after buying an additional 473,373 shares during the last quarter. Easterly Investment Partners LLC raised its stake in V.F. by 8.6% during the second quarter. Easterly Investment Partners LLC now owns 336,516 shares of the textile maker’s stock worth $4,543,000 after purchasing an additional 26,636 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of V.F. by 766.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 166,300 shares of the textile maker’s stock valued at $2,245,000 after acquiring an additional 147,100 shares during the period. &PARTNERS raised its stake in shares of V.F. by 323.3% in the 2nd quarter. &PARTNERS now owns 70,238 shares of the textile maker’s stock valued at $935,000 after acquiring an additional 53,645 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in V.F. during the 2nd quarter worth approximately $103,000. 86.84% of the stock is currently owned by institutional investors and hedge funds.

V.F. Stock Up 0.3 %

Shares of NYSE:VFC opened at $17.63 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.51 and a debt-to-equity ratio of 2.84. The company has a fifty day simple moving average of $16.33 and a 200 day simple moving average of $14.63. The firm has a market cap of $6.86 billion, a PE ratio of -7.05, a price-to-earnings-growth ratio of 1.99 and a beta of 1.53. V.F. Co. has a 12-month low of $11.00 and a 12-month high of $20.69.

V.F. (NYSE:VFC) last announced its quarterly earnings results on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.04. V.F. had a negative net margin of 11.39% and a positive return on equity of 11.75%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. On average, equities research analysts anticipate that V.F. Co. will post 0.73 EPS for the current fiscal year.

V.F. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 10th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Tuesday, September 10th. V.F.’s dividend payout ratio is currently -14.40%.

Insider Activity at V.F.

In other V.F. news, Director Richard Carucci purchased 15,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were purchased at an average cost of $16.70 per share, for a total transaction of $250,500.00. Following the completion of the transaction, the director now owns 230,178 shares in the company, valued at $3,843,972.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on VFC shares. The Goldman Sachs Group lowered their price target on shares of V.F. from $12.50 to $11.00 and set a “neutral” rating for the company in a report on Thursday, May 23rd. UBS Group increased their price target on shares of V.F. from $12.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Stifel Nicolaus lowered their price objective on shares of V.F. from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. TD Cowen raised their price target on shares of V.F. from $9.00 to $16.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. Finally, Wedbush reaffirmed a “neutral” rating and set a $13.00 price target on shares of V.F. in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.56.

V.F. Profile

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.