Orion Portfolio Solutions LLC Purchases New Position in VF Corp (NYSE:VFC)
Orion Portfolio Solutions LLC acquired a new position in shares of VF Corp (NYSE:VFC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 867 shares of the textile maker’s stock, valued at approximately $86,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in VF by 78.6% in the 4th quarter. Bank of America Corp DE now owns 12,686,741 shares of the textile maker’s stock valued at $1,264,360,000 after buying an additional 5,582,527 shares during the last quarter. Parnassus Investments CA increased its stake in shares of VF by 7.1% in the fourth quarter. Parnassus Investments CA now owns 7,715,537 shares of the textile maker’s stock valued at $768,931,000 after buying an additional 511,670 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of VF by 317.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 309,754 shares of the textile maker’s stock worth $30,870,000 after acquiring an additional 235,641 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in VF by 1,243.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 218,567 shares of the textile maker’s stock worth $19,450,000 after buying an additional 202,293 shares in the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt lifted its stake in shares of VF by 4.0% during the fourth quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,200,000 shares of the textile maker’s stock valued at $418,152,000 after acquiring an additional 160,000 shares during the period. 79.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of VFC traded up $3.88 during mid-day trading on Thursday, hitting $61.93. The stock had a trading volume of 3,227,643 shares, compared to its average volume of 3,402,816. The firm has a market cap of $20.70 billion, a P/E ratio of 19.29, a PEG ratio of 1.59 and a beta of 1.21. The business has a fifty day moving average price of $72.23 and a 200-day moving average price of $85.59. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.12 and a quick ratio of 1.32. VF Corp has a 52 week low of $45.07 and a 52 week high of $100.25.
The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Monday, March 9th. VF’s dividend payout ratio (DPR) is presently 50.79%.
In related news, Director Veronica Wu acquired 500 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $71.00 per share, with a total value of $35,500.00. Following the acquisition, the director now owns 1,495 shares of the company’s stock, valued at approximately $106,145. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.74% of the company’s stock.
Several research firms have recently issued reports on VFC. Royal Bank of Canada restated a “buy” rating and set a $94.00 target price on shares of VF in a research report on Wednesday, February 26th. Susquehanna Bancshares reaffirmed a “buy” rating and set a $105.00 price target on shares of VF in a research note on Friday, February 7th. Guggenheim reaffirmed a “buy” rating on shares of VF in a research report on Tuesday, December 10th. BMO Capital Markets began coverage on shares of VF in a research report on Monday, February 3rd. They set a “market perform” rating and a $84.00 price target on the stock. Finally, Piper Sandler dropped their price objective on VF from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $94.81.
VF Company Profile
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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