VF Corporation (NYSE:VFC) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its holdings in VF Corporation (NYSE:VFC) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,622 shares of the textile maker’s stock after selling 763 shares during the quarter. Truist Financial Corp’s holdings in VF were worth $656,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. M&G Plc increased its stake in shares of VF by 10.0% in the second quarter. M&G Plc now owns 14,729,396 shares of the textile maker’s stock worth $206,212,000 after acquiring an additional 1,344,849 shares during the period. Pacer Advisors Inc. boosted its holdings in VF by 28.0% in the second quarter. Pacer Advisors Inc. now owns 11,822,885 shares of the textile maker’s stock valued at $159,609,000 after purchasing an additional 2,589,852 shares during the last quarter. Dimensional Fund Advisors LP grew its position in VF by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,125,417 shares of the textile maker’s stock worth $55,694,000 after purchasing an additional 113,128 shares during the period. Deprince Race & Zollo Inc. raised its stake in shares of VF by 28.3% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,057,884 shares of the textile maker’s stock valued at $41,281,000 after buying an additional 673,979 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of VF by 23.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,481,600 shares of the textile maker’s stock valued at $33,502,000 after buying an additional 473,373 shares during the period. 86.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VFC has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on VF from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Evercore ISI increased their price objective on shares of VF from $14.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 7th. Barclays raised VF from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $19.00 to $22.00 in a report on Wednesday, September 18th. Robert W. Baird raised their price target on shares of VF from $13.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, TD Cowen boosted their price objective on VF from $9.00 to $16.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.24.

Insider Activity at VF

In other news, Director Richard Carucci acquired 15,000 shares of VF stock in a transaction on Thursday, August 22nd. The stock was bought at an average price of $16.70 per share, for a total transaction of $250,500.00. Following the completion of the purchase, the director now owns 230,178 shares in the company, valued at $3,843,972.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.70% of the stock is owned by corporate insiders.

VF Price Performance

VF stock opened at $19.48 on Wednesday. The firm has a market cap of $7.58 billion, a PE ratio of -7.79, a price-to-earnings-growth ratio of 2.27 and a beta of 1.53. The company’s 50 day moving average is $18.38 and its two-hundred day moving average is $15.32. VF Corporation has a 52-week low of $11.00 and a 52-week high of $21.40. The company has a quick ratio of 0.51, a current ratio of 0.99 and a debt-to-equity ratio of 2.84.

VF (NYSE:VFC) last released its quarterly earnings data on Tuesday, August 6th. The textile maker reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.04. VF had a negative net margin of 11.39% and a positive return on equity of 11.75%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the company earned ($0.15) EPS. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, research analysts expect that VF Corporation will post 0.73 EPS for the current fiscal year.

VF Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 10th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, September 10th. VF’s dividend payout ratio (DPR) is -14.40%.

About VF

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.