Hillsdale Investment Management Inc. Buys New Position in V.F. Corporation $VFC

Hillsdale Investment Management Inc. purchased a new stake in V.F. Corporation (NYSE:VFC) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 188,900 shares of the textile maker’s stock, valued at approximately $3,209,000.

Other institutional investors have also added to or reduced their stakes in the company. Fiduciary Alliance LLC grew its stake in shares of V.F. by 10.3% during the fourth quarter. Fiduciary Alliance LLC now owns 647,496 shares of the textile maker’s stock worth $11,707,000 after acquiring an additional 60,619 shares during the last quarter. GAMMA Investing LLC raised its position in shares of V.F. by 30.5% in the 4th quarter. GAMMA Investing LLC now owns 10,987 shares of the textile maker’s stock valued at $199,000 after purchasing an additional 2,570 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in V.F. by 151.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 6,915 shares of the textile maker’s stock worth $125,000 after purchasing an additional 4,167 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in V.F. by 14.0% in the 4th quarter. Russell Investments Group Ltd. now owns 659,773 shares of the textile maker’s stock worth $11,930,000 after purchasing an additional 81,006 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in V.F. by 0.8% during the 4th quarter. New York State Common Retirement Fund now owns 540,861 shares of the textile maker’s stock worth $9,779,000 after purchasing an additional 4,249 shares during the last quarter. Institutional investors and hedge funds own 86.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on VFC shares. Evercore set a $18.00 price target on shares of V.F. in a research note on Thursday, May 21st. BTIG Research raised shares of V.F. from a “neutral” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Wednesday, May 6th. Barclays cut their target price on V.F. from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Truist Financial reduced their target price on V.F. from $18.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, May 21st. Finally, Citigroup started coverage on V.F. in a research report on Thursday, May 21st. They set a “neutral” rating and a $18.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.58.

V.F. Stock Performance

VFC opened at $17.22 on Thursday. V.F. Corporation has a 12-month low of $11.10 and a 12-month high of $22.27. The company has a current ratio of 1.84, a quick ratio of 1.21 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $6.76 billion, a PE ratio of 26.91, a P/E/G ratio of 1.34 and a beta of 1.56. The firm has a 50 day moving average of $16.99 and a two-hundred day moving average of $18.20.

V.F. (NYSE:VFC) last announced its quarterly earnings data on Wednesday, May 20th. The textile maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.28). The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. V.F. had a net margin of 2.65% and a return on equity of 21.05%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. On average, analysts anticipate that V.F. Corporation will post 1.1 EPS for the current year.

V.F. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Wednesday, June 10th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, June 10th. This represents a $0.36 dividend on an annualized basis and a yield of 2.1%. V.F.’s payout ratio is currently 56.25%.

Insider Buying and Selling

In other V.F. news, Director Richard Carucci purchased 30,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were bought at an average cost of $17.17 per share, with a total value of $515,100.00. Following the completion of the acquisition, the director owned 336,043 shares in the company, valued at $5,769,858.31. This trade represents a 9.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.54% of the company’s stock.

V.F. Profile

VF Corporation, commonly branded as VF, is a global apparel and footwear company that develops, markets and distributes a diverse portfolio of consumer brands. Its offerings span outdoor and action sports apparel, footwear and accessories under marquee names such as The North Face, Vans, Timberland, Dickies, JanSport and Smartwool. Through a “house of brands” strategy, VF leverages the unique heritage and design expertise of each label to serve distinct lifestyle and performance segments.

Founded in 1899 in Pennsylvania as the Reading Glove and Mitten Manufacturing Company, VF evolved through a series of acquisitions and strategic expansions to become a leading player in the global apparel industry.