Stock Traders Purchase Large Volume of V.F. Put Options (NYSE:VFC)

V.F. Corporation (NYSE:VFC) was the recipient of some unusual options trading on Tuesday. Traders purchased 20,552 put options on the stock. This is an increase of 125% compared to the typical daily volume of 9,117 put options.

Insider Activity at V.F.

In other V.F. news, Director Richard Carucci purchased 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average price of $17.17 per share, with a total value of $515,100.00. Following the completion of the purchase, the director directly owned 336,043 shares of the company’s stock, valued at $5,769,858.31. The trade was a 9.80% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.54% of the stock is currently owned by corporate insiders.

Institutional Trading of V.F.

A number of large investors have recently made changes to their positions in VFC. Russell Investments Group Ltd. raised its holdings in shares of V.F. by 14.0% during the fourth quarter. Russell Investments Group Ltd. now owns 659,773 shares of the textile maker’s stock valued at $11,930,000 after purchasing an additional 81,006 shares during the last quarter. Fiduciary Alliance LLC boosted its holdings in V.F. by 10.3% in the fourth quarter. Fiduciary Alliance LLC now owns 647,496 shares of the textile maker’s stock worth $11,707,000 after purchasing an additional 60,619 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in V.F. by 0.8% in the fourth 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. Hillsdale Investment Management Inc. bought a new stake in V.F. in the 1st quarter worth approximately $3,209,000. Finally, Handelsbanken Fonder AB raised its stake in V.F. by 3.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 116,200 shares of the textile maker’s stock valued at $1,938,000 after buying an additional 4,200 shares during the last quarter. 86.84% of the stock is currently owned by institutional investors.

V.F. Stock Down 0.7%

VFC traded down $0.12 during trading on Tuesday, hitting $16.75. 986,044 shares of the company’s stock traded hands, compared to its average volume of 7,074,911. The company’s 50 day simple moving average is $17.07 and its two-hundred day simple moving average is $18.22. The company has a current ratio of 1.84, a quick ratio of 1.21 and a debt-to-equity ratio of 1.90. V.F. has a 12-month low of $11.10 and a 12-month high of $22.27. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 1.35 and a beta of 1.56.

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

V.F. Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on VFC. Zacks Research lowered shares of V.F. from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. 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 research note on Wednesday, May 6th. Weiss Ratings cut V.F. from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 4th. UBS Group cut their price objective on shares of V.F. from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, May 21st. Finally, Truist Financial reduced their price objective on shares of V.F. from $18.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.58.

About V.F.

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.