Webster Bank N. A. Invests $86,000 in VF Corp (NYSE:VFC)

Webster Bank N. A. acquired a new position in shares of VF Corp (NYSE:VFC) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 987 shares of the textile maker’s stock, valued at approximately $86,000.

Several other hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN raised its holdings in VF by 0.4% in the first quarter. Wells Fargo & Company MN now owns 8,345,551 shares of the textile maker’s stock valued at $725,312,000 after buying an additional 31,471 shares during the period. FMR LLC raised its holdings in VF by 8.8% in the first quarter. FMR LLC now owns 6,712,773 shares of the textile maker’s stock valued at $583,406,000 after buying an additional 543,434 shares during the period. Geode Capital Management LLC raised its holdings in VF by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 4,666,672 shares of the textile maker’s stock valued at $332,386,000 after buying an additional 159,863 shares during the period. JPMorgan Chase & Co. raised its holdings in VF by 24.5% in the first quarter. JPMorgan Chase & Co. now owns 2,838,671 shares of the textile maker’s stock valued at $246,709,000 after buying an additional 558,484 shares during the period. Finally, King Luther Capital Management Corp raised its holdings in VF by 5.0% in the first quarter. King Luther Capital Management Corp now owns 2,378,366 shares of the textile maker’s stock valued at $206,704,000 after buying an additional 112,192 shares during the period.

In other news, CFO Scott A. Roe sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $88.39, for a total transaction of $883,900.00. Following the completion of the sale, the chief financial officer now owns 98,198 shares of the company’s stock, valued at $8,679,721.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.74% of the stock is currently owned by company insiders.

Shares of VFC traded down $0.59 during mid-day trading on Friday, reaching $82.78. 2,022,804 shares of the stock traded hands, compared to its average volume of 1,552,584. The stock has a market cap of $34.71 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 2.45 and a beta of 1.15. The firm has a fifty day moving average of $87.60. VF Corp has a 12-month low of $67.18 and a 12-month high of $97.00. The company has a current ratio of 2.04, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

VF (NYSE:VFC) last posted its quarterly earnings data on Wednesday, July 24th. The textile maker reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.24 billion. VF had a net margin of 8.62% and a return on equity of 34.52%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 earnings per share. As a group, research analysts predict that VF Corp will post 3.37 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, September 9th. VF’s payout ratio is currently 53.97%.

VFC has been the topic of several research reports. Telsey Advisory Group restated an “outperform” rating and issued a $106.00 price target (up previously from $104.00) on shares of VF in a report on Thursday, July 25th. UBS Group cut their price target on shares of VF from $97.00 to $87.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Pivotal Research raised their price target on shares of VF to $95.00 in a report on Monday, July 22nd. Guggenheim reiterated a “buy” rating and set a $95.00 price objective (up previously from $90.00) on shares of VF in a research note on Thursday, May 23rd. Finally, Cowen lifted their price objective on shares of VF from $90.00 to $100.00 and gave the company a “positive” rating in a research note on Thursday, June 27th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. VF presently has a consensus rating of “Buy” and an average target price of $93.69.

VF 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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Institutional Ownership by Quarter for VF (NYSE:VFC)

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