FormulaFolio Investments LLC Invests $273,000 in VF Corp (VFC) Stock
FormulaFolio Investments LLC acquired a new position in VF Corp (NYSE:VFC) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,136 shares of the textile maker’s stock, valued at approximately $273,000.
A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc raised its stake in VF by 2.0% in the 3rd quarter. Vanguard Group Inc now owns 26,944,256 shares of the textile maker’s stock worth $2,517,940,000 after purchasing an additional 538,916 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of VF by 5,538.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,592,716 shares of the textile maker’s stock valued at $106,000 after buying an additional 7,458,056 shares in the last quarter. Parnassus Investments CA raised its position in shares of VF by 1.1% in the 4th quarter. Parnassus Investments CA now owns 7,232,841 shares of the textile maker’s stock valued at $515,990,000 after buying an additional 77,942 shares in the last quarter. FMR LLC raised its position in shares of VF by 12.5% in the 4th quarter. FMR LLC now owns 6,169,339 shares of the textile maker’s stock valued at $440,121,000 after buying an additional 687,095 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of VF by 182.3% in the 4th quarter. Bank of America Corp DE now owns 5,308,262 shares of the textile maker’s stock valued at $378,691,000 after buying an additional 3,427,860 shares in the last quarter.
Several brokerages have recently commented on VFC. Goldman Sachs Group began coverage on shares of VF in a research report on Friday, May 17th. They issued a “buy” rating and a $97.00 target price for the company. UBS Group boosted their target price on shares of VF from $84.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. Wedbush boosted their target price on shares of VF from $90.00 to $98.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Cowen boosted their target price on shares of VF from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, February 19th. Finally, Citigroup restated a “neutral” rating and issued a $85.00 target price (down from $90.00) on shares of VF in a research report on Monday, March 18th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $92.95.
VF (NYSE:VFC) last announced its quarterly earnings results on Wednesday, May 22nd. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.20 billion. VF had a net margin of 10.11% and a return on equity of 38.84%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 EPS. Equities research analysts forecast that VF Corp will post 3.75 EPS for the current year.
In related news, VP Scott H. Baxter sold 51,911 shares of VF stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $84.25, for a total transaction of $4,373,501.75. Following the sale, the vice president now directly owns 201,972 shares of the company’s stock, valued at approximately $17,016,141. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.72% of the company’s stock.
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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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