Mcmillion Capital Management Inc. Lowers Stake in V.F. Corp. (VFC)
Mcmillion Capital Management Inc. reduced its stake in V.F. Corp. (NYSE:VFC) by 3.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 28,740 shares of the company’s stock after selling 948 shares during the period. Mcmillion Capital Management Inc.’s holdings in V.F. Corp. were worth $1,611,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of VFC. Logan Capital Management Inc. boosted its stake in shares of V.F. Corp. by 0.9% in the third quarter. Logan Capital Management Inc. now owns 11,696 shares of the company’s stock valued at $656,000 after buying an additional 101 shares during the period. Stock Yards Bank & Trust Co. raised its position in V.F. Corp. by 1.0% in the second quarter. Stock Yards Bank & Trust Co. now owns 13,589 shares of the company’s stock valued at $836,000 after buying an additional 130 shares in the last quarter. Trust Co. of Vermont raised its position in V.F. Corp. by 3.8% in the third quarter. Trust Co. of Vermont now owns 3,572 shares of the company’s stock valued at $200,000 after buying an additional 132 shares in the last quarter. 1ST Source Bank raised its position in V.F. Corp. by 0.7% in the third quarter. 1ST Source Bank now owns 21,673 shares of the company’s stock valued at $1,215,000 after buying an additional 151 shares in the last quarter. Finally, Palladium Partners LLC raised its position in V.F. Corp. by 0.7% in the second quarter. Palladium Partners LLC now owns 27,745 shares of the company’s stock valued at $1,706,000 after buying an additional 200 shares in the last quarter. 84.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of V.F. Corp. (NYSE:VFC) traded down 2.01% during trading on Wednesday, hitting $54.51. The stock had a trading volume of 4,214,843 shares. The stock’s 50 day moving average price is $55.10 and its 200-day moving average price is $59.62. The stock has a market cap of $22.55 billion, a P/E ratio of 20.69 and a beta of 0.84. V.F. Corp. has a one year low of $51.76 and a one year high of $67.10.
V.F. Corp. (NYSE:VFC) last announced its quarterly earnings results on Monday, October 24th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.05. The business earned $3.50 billion during the quarter, compared to the consensus estimate of $3.63 billion. V.F. Corp. had a net margin of 9.23% and a return on equity of 26.26%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.07 EPS. Analysts expect that V.F. Corp. will post $3.13 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Friday, December 9th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, December 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.08%. This is a boost from V.F. Corp.’s previous quarterly dividend of $0.37. V.F. Corp.’s dividend payout ratio (DPR) is presently 56.06%.
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Several research analysts recently commented on VFC shares. Guggenheim started coverage on V.F. Corp. in a research report on Friday, September 30th. They issued a “buy” rating and a $65.00 price target for the company. Canaccord Genuity reiterated a “buy” rating and issued a $76.00 price target on shares of V.F. Corp. in a research report on Sunday, September 11th. Buckingham Research lowered V.F. Corp. from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $70.00 to $60.00 in a research report on Friday, September 2nd. Wells Fargo & Co. reiterated a “market perform” rating and issued a $58.00 price target (up previously from $57.00) on shares of V.F. Corp. in a research report on Monday, September 12th. They noted that the move was a valuation call. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $63.00 price target (down previously from $67.00) on shares of V.F. Corp. in a research report on Thursday, October 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.91.
About V.F. Corp.
V.F. Corporation (VF) is engaged in the design, manufacturing, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear, Sportswear, Contemporary Brands and Other. The Company owns a portfolio of brands in the outerwear, footwear, denim, backpack, luggage, accessory, sportswear, occupational and performance apparel categories.
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