Harbor Investment Advisory LLC downgrades shares of VF Co. (NYSE:VFC)


Harbor Investment Advisory LLC reduced its position in shares of VF Co. (NYSE:VFC – Get Rating ) by 25.6% during the first quarter, HoldingsChannel.com reports. The fund owned 909 shares of the textile maker’s stock after selling 312 shares during the period. Harbor Investment Advisory LLC’s holdings in VF were worth $52,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in VFC. Capital International Investors raised its stake in shares of VF by 81.8% during the 4th quarter. Capital International Investors now owns 21,740,758 shares of the textile maker’s stock valued at $1,591,858,000 after purchasing an additional 9,782,346 shares during the period. Norges Bank bought a new position in shares of VF in the 4th quarter valued at about $213,383,000. State Street Corp boosted its stake in shares of VF by 9.8% in the 4th quarter. State Street Corp now owns 17,918,285 shares of the textile maker’s stock valued at $1,311,977,000 after purchasing an additional 1,596,886 shares during the period. Marathon Asset Mgmt Ltd bought a new position in shares of VF during the 4th quarter worth about $62,426,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of VF by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,103,073 shares of the textile maker’s stock valued at $446,868,000 after purchasing an additional 415,697 shares during the period. Institutional investors own 88.25% of the company’s shares.

NYSE:VFC opened at $44.13 on Monday. The firm has a market cap of $17.14 billion, a P/E ratio of 12.50, a PEG ratio of 1.37 and a beta of 1.41. The company has a current ratio of 1.38, a quick ratio of 0.96 and a debt-to-equity ratio of 1.30. The stock’s 50-day simple moving average is $48.16, and the 200-day simple moving average is $57.18. VF Co. has a 12-month low of $43.15 and a 12-month high of $84.96.

VF (NYSE:VFC – Get Rating ) last posted its earnings results on Thursday, May 19th. The textile maker reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The company had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.83 billion. VF had a net margin of 11.71% and a return on equity of 35.47%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm reported $0.27 EPS. Analysts predict that VF Co. will post 3.33 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 21st. Shareholders of record on Friday, June 10th were given a $0.50 dividend. This represents a dividend of $2.00 on an annualized basis and a dividend yield of 4.53%. The ex-dividend date was Thursday, June 9th. VF’s payout ratio is currently 56.66%.

In other VF news, Director Richard Carucci bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 14th. The stock was bought at an average price of $45.39 per share, for a total transaction of $453,900.00. Following the completion of the purchase, the director now directly owns 107,493 shares in the company, valued at $4,879,107.27. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC’s website. Also, Director W Rodney Mcmullen bought 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 31st. The shares were acquired at an average price of $49.99 per share, for a total transaction of $149,970.00. Following the completion of the purchase, the director now owns 28,125 shares of the company’s stock, valued at $1,405,968.75. Disclosure of this purchase can be found here. Over the last three months, insiders purchased 16,000 shares of company stock valued at $740,070. Corporate insiders own 0.90% of the company’s stock.

Several equities analysts recently issued reports on VFC shares. Wedbush decreased their price objective on VF from $61.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, May 20th. UBS Group decreased their price objective on VF from $65.00 to $55.00 in a research note on Friday, May 13th. Cowen cut their target price on VF from $72.00 to $61.00 and set a “hold” rating on the stock in a research report on Wednesday, May 18th. Goldman Sachs Group reduced their target price on VF from $46.00 to $40.00 and set a “sell” rating on the stock in a research report on Friday, May 20th. Finally, Barclays reduced their target price on VF from $63.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Monday, May 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $62.89, based on data from MarketBeat.

VF Company Profile (Get Rating)

VF Corporation, together with its subsidiaries, is engaged in the design, supply, marketing and distribution of branded lifestyle apparel, footwear and related products for men, women and children in the Americas, Europe and Asia Pacific. It operates in three segments: Outdoor, Active and Work.

See also

Want to see what other hedge funds are holding VFC? Visit HoldingsChannel.com to get the latest 13F filings and insider deals for VF Co. (NYSE:VFC – Get Rating).

Institutional Ownership by Quarter for VF (NYSE:VFC)



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