Guinness Atkinson Asset Management Inc Acquires 560 Shares of VF Corp (NYSE:VFC)

Guinness Atkinson Asset Management Inc boosted its holdings in VF Corp (NYSE:VFC) by 18.1% during the second quarter, HoldingsChannel.com reports. The fund owned 3,660 shares of the textile maker’s stock after purchasing an additional 560 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in VF were worth $320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position 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 in the last quarter. FMR LLC boosted its position 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 in the last quarter. Westfield Capital Management Co. LP acquired a new position in VF in the first quarter valued at about $38,833,000. DekaBank Deutsche Girozentrale boosted its position in VF by 106.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 766,771 shares of the textile maker’s stock valued at $70,090,000 after buying an additional 395,290 shares in the last quarter. Finally, Ellis Investment Partners LLC boosted its position in VF by 8,591.0% in the first quarter. Ellis Investment Partners LLC now owns 372,322 shares of the textile maker’s stock valued at $372,000 after buying an additional 368,038 shares in the last quarter.

In related news, CFO Scott A. Roe sold 10,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $88.39, for a total value of $883,900.00. Following the transaction, the chief financial officer now directly owns 98,198 shares in the company, valued at $8,679,721.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.74% of the company’s stock.

A number of research firms have commented on VFC. Pivotal Research boosted their price target on shares of VF to $95.00 in a research report on Monday, July 22nd. Cowen upped their target price on shares of VF from $90.00 to $100.00 and gave the stock a “positive” rating in a research report on Thursday, June 27th. Telsey Advisory Group reiterated an “outperform” rating and set a $106.00 target price (up from $104.00) on shares of VF in a research report on Thursday, July 25th. Canaccord Genuity set a $105.00 target price on shares of VF and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Guggenheim reiterated a “buy” rating and set a $95.00 target price (up from $90.00) on shares of VF in a research report on Thursday, May 23rd. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $93.69.

Shares of VFC stock traded up $0.32 during trading hours on Tuesday, reaching $80.78. 42,530 shares of the company were exchanged, compared to its average volume of 1,731,188. VF Corp has a fifty-two week low of $67.18 and a fifty-two week high of $97.00. The business has a fifty day moving average price of $87.29. The firm has a market cap of $31.96 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 2.32 and a beta of 1.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 2.04.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, September 10th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $1.72 annualized dividend and a yield of 2.13%. VF’s dividend payout ratio is currently 53.97%.

About VF

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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