Pekin Hardy Strauss Inc. Trims Stock Holdings in V.F. Co. (NYSE:VFC)

Pekin Hardy Strauss Inc. reduced its stake in shares of V.F. Co. (NYSE:VFC) by 11.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 360,053 shares of the textile maker’s stock after selling 47,830 shares during the period. V.F. accounts for 1.0% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 22nd biggest holding. Pekin Hardy Strauss Inc. owned 0.09% of V.F. worth $6,769,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Wolff Wiese Magana LLC increased its stake in shares of V.F. by 2,835.6% in the fourth quarter. Wolff Wiese Magana LLC now owns 1,321 shares of the textile maker’s stock worth $25,000 after purchasing an additional 1,276 shares in the last quarter. Allworth Financial LP lifted its position in shares of V.F. by 111.5% in the fourth quarter. Allworth Financial LP now owns 1,817 shares of the textile maker’s stock valued at $34,000 after acquiring an additional 958 shares in the last quarter. CVA Family Office LLC bought a new position in shares of V.F. in the fourth quarter worth about $39,000. ORG Partners LLC purchased a new stake in shares of V.F. during the fourth quarter worth about $40,000. Finally, Covestor Ltd raised its stake in V.F. by 335.8% during the 3rd quarter. Covestor Ltd now owns 2,384 shares of the textile maker’s stock valued at $42,000 after purchasing an additional 1,837 shares during the period. 86.84% of the stock is currently owned by institutional investors.

V.F. Stock Down 3.3 %

NYSE VFC traded down $0.43 during trading on Tuesday, hitting $12.46. The stock had a trading volume of 6,373,225 shares, compared to its average volume of 9,137,654. The stock has a 50 day simple moving average of $14.47 and a 200 day simple moving average of $16.17. V.F. Co. has a one year low of $11.91 and a one year high of $23.53. The company has a quick ratio of 0.70, a current ratio of 1.23 and a debt-to-equity ratio of 2.25.

V.F. (NYSE:VFC) last posted its quarterly earnings data on Tuesday, February 6th. The textile maker reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.22). V.F. had a negative net margin of 7.07% and a positive return on equity of 19.03%. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the previous year, the firm earned $1.12 EPS. V.F.’s revenue was down 16.2% compared to the same quarter last year. On average, analysts forecast that V.F. Co. will post 1.1 earnings per share for the current year.

V.F. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Monday, March 11th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.36 dividend on an annualized basis and a yield of 2.89%. V.F.’s payout ratio is -18.27%.

Insider Buying and Selling at V.F.

In related news, insider Bracken Darrell bought 65,360 shares of V.F. stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $15.38 per share, with a total value of $1,005,236.80. Following the completion of the transaction, the insider now owns 144,281 shares in the company, valued at approximately $2,219,041.78. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Bracken Darrell purchased 65,360 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average price of $15.38 per share, with a total value of $1,005,236.80. Following the transaction, the insider now owns 144,281 shares of the company’s stock, valued at $2,219,041.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Juliana L. Chugg purchased 11,301 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were purchased at an average price of $17.55 per share, for a total transaction of $198,332.55. Following the purchase, the director now owns 26,301 shares of the company’s stock, valued at approximately $461,582.55. The disclosure for this purchase can be found here. 0.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on VFC. JPMorgan Chase & Co. dropped their price target on V.F. from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, April 8th. The Goldman Sachs Group reduced their price target on shares of V.F. from $14.00 to $12.50 and set a “neutral” rating on the stock in a report on Friday. StockNews.com raised shares of V.F. from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Wells Fargo & Company reduced their target price on V.F. from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Finally, UBS Group dropped their price target on V.F. from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.88.

V.F. Company Profile

V.F. Corporation, together with its subsidiaries, engages in the design, 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 three segments: Outdoor, Active, and Work.