Traders Buy V.F. Corporation (VFC) on Weakness After Insider Selling
Investors purchased shares of V.F. Corporation (NYSE:VFC) on weakness during trading on Tuesday after an insider sold shares in the company. $87.08 million flowed into the stock on the tick-up and $26.04 million flowed out of the stock on the tick-down, for a money net flow of $61.04 million into the stock. Of all equities tracked, V.F. Corporation had the 12th highest net in-flow for the day. V.F. Corporation traded down ($0.26) for the day and closed at $69.65Specifically, Director W Alan Mccollough sold 22,852 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $62.94, for a total transaction of $1,438,304.88. Following the sale, the director now owns 36,353 shares in the company, valued at approximately $2,288,057.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven E. Rendle sold 65,604 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $70.57, for a total value of $4,629,674.28. Following the sale, the chief executive officer now owns 162,235 shares in the company, valued at approximately $11,448,923.95. The disclosure for this sale can be found here. Insiders have sold a total of 551,744 shares of company stock worth $35,605,258 in the last 90 days. 1.60% of the stock is currently owned by insiders.
Several equities analysts have commented on VFC shares. Buckingham Research reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of V.F. Corporation in a research report on Monday, July 17th. Canaccord Genuity set a $53.00 price objective on V.F. Corporation and gave the company a “hold” rating in a research report on Monday, July 17th. TheStreet raised V.F. Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, July 13th. UBS AG upped their price objective on V.F. Corporation from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $70.00 price objective (up previously from $69.00) on shares of V.F. Corporation in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $65.45.
The stock has a 50-day moving average of $64.81 and a 200 day moving average of $59.54. The stock has a market capitalization of $27.42 billion, a PE ratio of 26.57 and a beta of 0.77.
V.F. Corporation (NYSE:VFC) last posted its earnings results on Monday, October 23rd. The textile maker reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.11. V.F. Corporation had a return on equity of 29.22% and a net margin of 8.24%. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the business earned $1.20 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts anticipate that V.F. Corporation will post $3.03 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Friday, December 8th will be issued a $0.46 dividend. This is an increase from V.F. Corporation’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Thursday, December 7th. V.F. Corporation’s payout ratio is presently 70.89%.
Institutional investors have recently bought and sold shares of the company. Orrstown Financial Services Inc. lifted its holdings in shares of V.F. Corporation by 9.2% in the 2nd quarter. Orrstown Financial Services Inc. now owns 1,780 shares of the textile maker’s stock valued at $103,000 after purchasing an additional 150 shares during the last quarter. Zions Bancorporation lifted its holdings in shares of V.F. Corporation by 1.5% in the 1st quarter. Zions Bancorporation now owns 2,575 shares of the textile maker’s stock valued at $140,000 after purchasing an additional 38 shares during the last quarter. WASHINGTON TRUST Co purchased a new stake in shares of V.F. Corporation in the 3rd quarter valued at about $210,000. Ronald Blue & Co. LLC purchased a new stake in shares of V.F. Corporation in the 2nd quarter valued at about $203,000. Finally, RNC Capital Management LLC lifted its holdings in shares of V.F. Corporation by 1.5% in the 2nd quarter. RNC Capital Management LLC now owns 4,135 shares of the textile maker’s stock valued at $238,000 after purchasing an additional 60 shares during the last quarter.
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V.F. Corporation Company Profile
V.F. Corporation (VF) is engaged in the design, production, procurement, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear and Sportswear. Its Outdoor & Action Sports Coalition is a group of authentic outdoor and activity-based lifestyle brands.
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