Stewart & Patten Co. LLC Reduces Stock Holdings in V.F. Co. (NYSE:VFC)

Stewart & Patten Co. LLC reduced its holdings in V.F. Co. (NYSE:VFC) by 47.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 189,316 shares of the textile maker’s stock after selling 171,295 shares during the period. Stewart & Patten Co. LLC’s holdings in V.F. were worth $2,904,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wolff Wiese Magana LLC boosted its holdings in shares of V.F. by 2,835.6% in the 4th quarter. Wolff Wiese Magana LLC now owns 1,321 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 1,276 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in V.F. during the fourth quarter worth $25,000. Mather Group LLC. purchased a new stake in V.F. during the first quarter worth $27,000. Future Financial Wealth Managment LLC purchased a new stake in V.F. during the first quarter worth $31,000. Finally, Allworth Financial LP boosted its holdings in V.F. by 111.5% during the fourth quarter. Allworth Financial LP now owns 1,817 shares of the textile maker’s stock worth $34,000 after buying an additional 958 shares in the last quarter. 86.84% of the stock is owned by hedge funds and other institutional investors.

V.F. Trading Down 4.9 %

Shares of VFC traded down $0.66 during mid-day trading on Monday, reaching $12.84. The stock had a trading volume of 8,254,810 shares, compared to its average volume of 8,918,309. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.22 and a quick ratio of 0.71. V.F. Co. has a 52-week low of $11.00 and a 52-week high of $21.17. The business’s fifty day moving average is $13.06 and its 200 day moving average is $14.99. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of -5.13, a P/E/G ratio of 1.04 and a beta of 1.53.

V.F. (NYSE:VFC) last announced its quarterly earnings data on Wednesday, May 22nd. The textile maker reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.34). V.F. had a negative net margin of 9.27% and a positive return on equity of 13.14%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the prior year, the company posted $0.17 EPS. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year. On average, sell-side analysts predict that V.F. Co. will post 0.85 EPS for the current fiscal year.

V.F. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Monday, June 10th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Monday, June 10th. V.F.’s dividend payout ratio is currently -14.40%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Barclays lowered their price target on shares of V.F. from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, May 24th. JPMorgan Chase & Co. lowered their price target on shares of V.F. from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, April 8th. Wells Fargo & Company reduced their price objective on shares of V.F. from $14.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday, May 23rd. TD Cowen reduced their price objective on shares of V.F. from $14.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, May 23rd. Finally, Wedbush reduced their price objective on shares of V.F. from $15.50 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, May 21st. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.06.

Insider Activity at V.F.

In related news, Director Richard Carucci purchased 25,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was acquired at an average cost of $13.78 per share, for a total transaction of $344,500.00. Following the completion of the transaction, the director now directly owns 215,130 shares in the company, valued at $2,964,491.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Richard Carucci purchased 25,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was acquired at an average cost of $13.78 per share, for a total transaction of $344,500.00. Following the completion of the transaction, the director now directly owns 215,130 shares in the company, valued at $2,964,491.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bracken Darrell purchased 75,200 shares of the company’s stock in a transaction on Monday, June 10th. The shares were bought at an average price of $13.26 per share, with a total value of $997,152.00. Following the completion of the transaction, the insider now owns 219,972 shares of the company’s stock, valued at $2,916,828.72. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by insiders.

About V.F.

V.F. Corporation, together with its subsidiaries, engages in the design, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and accessories for men, women, and children in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Outdoor, Active, and Work.