Cornerstone Wealth Group LLC Buys Shares of 20,856 VF Corp (NYSE:VFC)

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Cornerstone Wealth Group LLC bought a new stake in VF Corp (NYSE:VFC) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 20,856 shares of the textile maker’s stock, valued at approximately $1,856,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new stake in shares of VF during the 2nd quarter valued at approximately $25,000. TRUE Private Wealth Advisors bought a new stake in shares of VF during the 2nd quarter valued at approximately $26,000. Doyle Wealth Management bought a new stake in shares of VF during the 2nd quarter valued at approximately $32,000. Independence Bank of Kentucky bought a new stake in shares of VF during the 3rd quarter valued at approximately $34,000. Finally, Shine Investment Advisory Services Inc. bought a new stake in shares of VF during the 2nd quarter valued at approximately $35,000.

Several equities research analysts recently issued reports on VFC shares. Guggenheim reaffirmed a “buy” rating and set a $105.00 price target on shares of VF in a report on Friday, October 25th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $106.00 price target (up from $104.00) on shares of VF in a report on Thursday, July 25th. Pivotal Research decreased their price target on shares of VF from $93.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Wedbush reaffirmed an “outperform” rating and set a $98.00 price target on shares of VF in a report on Friday, October 18th. Finally, UBS Group lifted their price target on shares of VF from $88.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, September 11th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $97.71.

In other news, Director Richard Carucci purchased 2,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $78.93 per share, for a total transaction of $157,860.00. Following the transaction, the director now owns 64,731 shares of the company’s stock, valued at $5,109,217.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Kevin Bailey sold 21,314 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $83.14, for a total transaction of $1,772,045.96. Following the completion of the transaction, the vice president now owns 71,241 shares in the company, valued at approximately $5,922,976.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,021 shares of company stock worth $7,194,376. 0.74% of the stock is owned by corporate insiders.

NYSE:VFC opened at $87.07 on Friday. The firm’s 50 day simple moving average is $87.79 and its 200 day simple moving average is $87.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.99 and a quick ratio of 1.20. VF Corp has a one year low of $67.18 and a one year high of $96.20. The company has a market cap of $34.51 billion, a PE ratio of 23.03, a P/E/G ratio of 2.55 and a beta of 1.17.

VF (NYSE:VFC) last posted its earnings results on Friday, October 25th. The textile maker reported $1.26 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.04). VF had a return on equity of 32.04% and a net margin of 10.07%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same quarter in the prior year, the business earned $1.43 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts expect that VF Corp will post 3.36 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Tuesday, December 10th will be given a dividend of $0.48 per share. The ex-dividend date is Monday, December 9th. This is an increase from VF’s previous quarterly dividend of $0.43. This represents a $1.92 annualized dividend and a yield of 2.21%. VF’s dividend payout ratio (DPR) is currently 45.50%.

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.

Further Reading: What are convertible shares? 

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Institutional Ownership by Quarter for VF (NYSE:VFC)

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