Trade Report: The Waverton Investment Management Ltd reaches $1,930,000 position of V.F. Corp. (VFC)

The Waverton Investment Management Ltd reaches $1,930,000 position  of V.F. Corp. (VFC)

Waverton Investment Management Ltd cut its position in shares of V.F. Corp. (NYSE:VFC) by 40.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,388 shares of the company’s stock after selling 21,460 shares during the period. Waverton Investment Management Ltd’s holdings in V.F. Corp. were worth $1,930,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of V.F. Corp. by 334.9% in the first quarter. Wellington Management Group LLP now owns 11,940,163 shares of the company’s stock worth $773,245,000 after buying an additional 9,194,423 shares in the last quarter. State Street Corp raised its position in shares of V.F. Corp. by 18.3% in the first quarter. State Street Corp now owns 18,228,650 shares of the company’s stock worth $1,180,486,000 after buying an additional 2,813,937 shares in the last quarter. AXA raised its position in shares of V.F. Corp. by 324.5% in the first quarter. AXA now owns 985,780 shares of the company’s stock worth $63,839,000 after buying an additional 753,560 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of V.F. Corp. during the first quarter worth $30,113,000. Finally, BlackRock Fund Advisors raised its position in shares of V.F. Corp. by 5.7% in the first quarter. BlackRock Fund Advisors now owns 4,698,169 shares of the company’s stock worth $304,253,000 after buying an additional 255,269 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of V.F. Corp. (NYSE:VFC) traded down 0.22% during midday trading on Friday, hitting $54.56. The stock had a trading volume of 2,716,831 shares. The stock has a market cap of $22.63 billion, a P/E ratio of 21.58 and a beta of 0.90. V.F. Corp. has a 12-month low of $52.21 and a 12-month high of $73.81. The stock has a 50-day moving average price of $59.23 and a 200-day moving average price of $62.04.

V.F. Corp. (NYSE:VFC) last posted its earnings results on Friday, July 22nd. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. V.F. Corp. had a return on equity of 25.27% and a net margin of 8.82%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the prior year, the company earned $0.40 EPS. V.F. Corp.’s revenue was up .8% on a year-over-year basis. Equities analysts forecast that V.F. Corp. will post $3.20 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Friday, September 9th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Wednesday, September 7th. V.F. Corp.’s payout ratio is currently 58.73%.

VFC has been the topic of a number of research reports. Bank of America Corp. lowered V.F. Corp. from a “buy” rating to an “underperform” rating and cut their price objective for the company from $73.00 to $54.00 in a report on Thursday, September 15th. Guggenheim initiated coverage on V.F. Corp. in a report on Friday, September 30th. They issued a “buy” rating and a $65.00 price objective on the stock. Wells Fargo & Co. reissued a “market perform” rating and issued a $58.00 price objective (up from $57.00) on shares of V.F. Corp. in a report on Monday, September 12th. They noted that the move was a valuation call. Buckingham Research lowered V.F. Corp. from a “buy” rating to a “neutral” rating and cut their price objective for the company from $70.00 to $60.00 in a report on Friday, September 2nd. Finally, Piper Jaffray Cos. restated a “buy” rating and issued a $67.00 target price on shares of V.F. Corp. in a research note on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. V.F. Corp. presently has an average rating of “Hold” and an average target price of $68.04.

In related news, CEO Eric C. Wiseman sold 264,816 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $64.55, for a total value of $17,093,872.80. Following the sale, the chief executive officer now owns 756,198 shares of the company’s stock, valued at approximately $48,812,580.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Clarence Otis, Jr. sold 25,540 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $62.12, for a total value of $1,586,544.80. Following the completion of the sale, the director now directly owns 37,510 shares in the company, valued at approximately $2,330,121.20. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

About V.F. Corp.

V.F. Corporation (VF) is engaged in the design, manufacturing, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear, Sportswear, Contemporary Brands and Other. The Company owns a portfolio of brands in the outerwear, footwear, denim, backpack, luggage, accessory, sportswear, occupational and performance apparel categories.

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