Wedge Capital Management L L P NC Sells 62,972 Shares of VF Corp (NYSE:VFC)

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Wedge Capital Management L L P NC lessened its stake in shares of VF Corp (NYSE:VFC) by 15.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 350,894 shares of the textile maker’s stock after selling 62,972 shares during the quarter. Wedge Capital Management L L P NC’s holdings in VF were worth $34,970,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in VFC. Doyle Wealth Management purchased a new stake in VF during the second quarter valued at $32,000. Independence Bank of Kentucky bought a new stake in shares of VF during the 3rd quarter valued at about $34,000. Mechanics Bank Trust Department purchased a new stake in shares of VF during the 3rd quarter valued at about $38,000. Prime Capital Investment Advisors LLC increased its position in shares of VF by 33.9% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 518 shares of the textile maker’s stock valued at $46,000 after purchasing an additional 131 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC bought a new position in shares of VF in the 2nd quarter worth approximately $49,000.

Shares of NYSE:VFC opened at $95.71 on Thursday. The company has a market capitalization of $38.55 billion, a P/E ratio of 25.32, a P/E/G ratio of 2.54 and a beta of 1.19. VF Corp has a 1-year low of $71.38 and a 1-year high of $100.25. The firm’s 50 day simple moving average is $94.86 and its two-hundred day simple moving average is $88.32. 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 (NYSE:VFC) last announced its quarterly earnings data on Friday, October 25th. The textile maker reported $1.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.04). VF had a net margin of 10.07% and a return on equity of 32.04%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the previous year, the business earned $1.43 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that VF Corp will post 3.36 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Tuesday, December 10th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Monday, December 9th. This is an increase from VF’s previous quarterly dividend of $0.43. VF’s dividend payout ratio is 50.79%.

A number of equities analysts recently issued reports on the stock. Guggenheim reissued a “buy” rating on shares of VF in a report on Tuesday, December 10th. Susquehanna Bancshares upped their target price on shares of VF from $105.00 to $119.00 and gave the company a “buy” rating in a report on Friday, September 27th. 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 research report on Monday, October 28th. Wedbush cut shares of VF from an “outperform” rating to a “neutral” rating and set a $98.00 price target on the stock. in a research note on Wednesday, January 8th. They noted that the move was a valuation call. Finally, Credit Suisse Group boosted their price objective on shares of VF from $104.00 to $116.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $100.77.

In other news, Director Clarence Otis, Jr. sold 16,930 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $91.14, for a total transaction of $1,543,000.20. Following the transaction, the director now owns 25,722 shares of the company’s stock, valued at approximately $2,344,303.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Kevin Bailey sold 21,314 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $83.14, for a total value of $1,772,045.96. Following the sale, 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. Insiders have sold a total of 193,826 shares of company stock valued at $17,535,241 in the last three months. Insiders own 0.74% of the company’s stock.

VF Company Profile

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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Want to see what other hedge funds are holding VFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VF Corp (NYSE:VFC).

Institutional Ownership by Quarter for VF (NYSE:VFC)

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