Conning Inc. trimmed its holdings in VF Corp (NYSE:VFC) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 496,676 shares of the textile maker’s stock after selling 2,017 shares during the quarter. VF makes up about 1.4% of Conning Inc.’s holdings, making the stock its 28th biggest position. Conning Inc. owned 0.13% of VF worth $43,385,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Wallington Asset Management LLC increased its stake in VF by 2.2% in the 1st quarter. Wallington Asset Management LLC now owns 161,092 shares of the textile maker’s stock valued at $14,001,000 after buying an additional 3,393 shares during the period. Stevens Capital Management LP increased its stake in VF by 202.4% in the 1st quarter. Stevens Capital Management LP now owns 39,490 shares of the textile maker’s stock valued at $3,432,000 after buying an additional 26,430 shares during the period. Physicians Financial Services Inc. acquired a new position in VF in the 1st quarter valued at $230,000. State Treasurer State of Michigan increased its stake in VF by 0.4% in the 1st quarter. State Treasurer State of Michigan now owns 93,528 shares of the textile maker’s stock valued at $8,129,000 after buying an additional 400 shares during the period. Finally, Toth Financial Advisory Corp increased its stake in VF by 130.3% in the 1st quarter. Toth Financial Advisory Corp now owns 5,029 shares of the textile maker’s stock valued at $437,000 after buying an additional 2,845 shares during the period.
In related news, CFO Scott A. Roe sold 10,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $88.39, for a total value of $883,900.00. Following the sale, the chief financial officer now directly owns 98,198 shares in the company, valued at approximately $8,679,721.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.74% of the stock is owned by insiders.
VF (NYSE:VFC) last released its quarterly earnings data on Wednesday, July 24th. The textile maker reported $0.30 EPS for the quarter, topping the 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 business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the firm earned $0.43 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that VF Corp will post 3.37 earnings per share 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 given a $0.43 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $1.72 annualized dividend and a dividend yield of 2.14%. VF’s dividend payout ratio is presently 53.97%.
Several equities analysts have issued reports on the stock. Guggenheim reissued a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of VF in a research note on Thursday, May 23rd. Cowen boosted 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. Goldman Sachs Group initiated coverage on shares of VF in a research note on Friday, May 17th. They issued a “buy” rating and a $97.00 price objective on the stock. Wedbush restated an “outperform” rating and set a $98.00 target price on shares of VF in a research report on Thursday, May 23rd. Finally, Telsey Advisory Group restated 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. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $93.69.
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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