Covington Capital Management Sells 249 Shares of VF Corp (VFC)

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Covington Capital Management lessened its holdings in VF Corp (NYSE:VFC) by 0.3% during the 4th quarter, Holdings Channel reports. The firm owned 75,741 shares of the textile maker’s stock after selling 249 shares during the period. Covington Capital Management’s holdings in VF were worth $5,403,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. NEXT Financial Group Inc boosted its stake in VF by 6.6% during the 4th quarter. NEXT Financial Group Inc now owns 1,929 shares of the textile maker’s stock worth $138,000 after acquiring an additional 120 shares during the last quarter. South State Corp boosted its stake in VF by 0.9% during the 4th quarter. South State Corp now owns 15,957 shares of the textile maker’s stock worth $1,139,000 after acquiring an additional 140 shares during the last quarter. Legacy Financial Strategies LLC boosted its stake in VF by 2.1% during the 4th quarter. Legacy Financial Strategies LLC now owns 7,007 shares of the textile maker’s stock worth $500,000 after acquiring an additional 143 shares during the last quarter. Camelot Portfolios LLC boosted its stake in VF by 4.8% during the 4th quarter. Camelot Portfolios LLC now owns 3,814 shares of the textile maker’s stock worth $272,000 after acquiring an additional 173 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its stake in VF by 4.4% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 4,190 shares of the textile maker’s stock worth $299,000 after acquiring an additional 175 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors.

In other news, Chairman Steven E. Rendle sold 65,988 shares of VF stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $85.91, for a total value of $5,669,029.08. Following the sale, the chairman now directly owns 236,514 shares in the company, valued at $20,318,917.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Alan Mccollough sold 12,552 shares of VF stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $83.20, for a total transaction of $1,044,326.40. Following the completion of the sale, the director now owns 27,742 shares in the company, valued at $2,308,134.40. The disclosure for this sale can be found here. Insiders sold 229,267 shares of company stock worth $19,577,926 over the last quarter. 1.72% of the stock is owned by corporate insiders.

NYSE VFC opened at $85.84 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.07 and a current ratio of 1.80. VF Corp has a 12-month low of $67.18 and a 12-month high of $97.00. The company has a market capitalization of $33.60 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 2.03 and a beta of 1.14.

VF (NYSE:VFC) last posted its quarterly earnings data on Friday, January 18th. The textile maker reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.21. VF had a net margin of 10.11% and a return on equity of 38.84%. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period last year, the company earned $1.01 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, analysts predict that VF Corp will post 3.75 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Friday, March 8th were issued a $0.51 dividend. The ex-dividend date was Thursday, March 7th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.38%. VF’s dividend payout ratio (DPR) is presently 68.46%.

Several brokerages have commented on VFC. Wells Fargo & Co dropped their target price on shares of VF from $90.00 to $85.00 and set a “market perform” rating on the stock in a report on Wednesday, January 2nd. ValuEngine downgraded shares of VF from a “buy” rating to a “hold” rating in a report on Friday, January 4th. Deutsche Bank downgraded shares of VF from a “buy” rating to a “hold” rating and dropped their target price for the stock from $104.00 to $76.00 in a report on Friday, January 11th. Telsey Advisory Group restated an “outperform” rating and set a $88.00 target price (down from $107.00) on shares of VF in a report on Monday, January 14th. Finally, Credit Suisse Group restated a “positive” rating on shares of VF in a report on Wednesday, January 16th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. VF has an average rating of “Buy” and a consensus target price of $91.95.

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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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