Short Interest in V.F. Corporation (VFC) Decreases By 24.5%

V.F. Corporation (NYSE:VFC) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 15,618,433 shares, a decrease of 24.5% from the October 13th total of 20,689,805 shares. Based on an average daily volume of 3,133,121 shares, the days-to-cover ratio is presently 5.0 days. Currently, 4.0% of the shares of the company are sold short.

A number of analysts have commented on VFC shares. Piper Jaffray Companies set a $58.00 price objective on V.F. Corporation and gave the stock a “hold” rating in a research report on Monday, August 14th. Forward View upgraded V.F. Corporation from a “sell” rating to a “hold” rating and set a $65.00 price objective for the company in a research report on Friday, July 28th. Buckingham Research raised their price objective on V.F. Corporation from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 15th. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $75.00 price objective (up previously from $70.00) on shares of V.F. Corporation in a research report on Tuesday, August 15th. Finally, Cowen and Company reiterated a “hold” rating on shares of V.F. Corporation in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. V.F. Corporation currently has a consensus rating of “Hold” and a consensus price target of $65.45.

In related news, CEO Steven E. Rendle sold 65,604 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $70.57, for a total transaction of $4,629,674.28. Following the completion of the sale, the chief executive officer now owns 162,235 shares in the company, valued at approximately $11,448,923.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director W Alan Mccollough sold 22,852 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $62.94, for a total value of $1,438,304.88. Following the sale, the director now owns 36,353 shares of the company’s stock, valued at approximately $2,288,057.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 548,960 shares of company stock valued at $35,622,427. 1.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Kopp Investment Advisors LLC increased its holdings in V.F. Corporation by 0.4% during the 2nd quarter. Kopp Investment Advisors LLC now owns 11,558 shares of the textile maker’s stock valued at $666,000 after purchasing an additional 49 shares in the last quarter. RNC Capital Management LLC increased its holdings in V.F. Corporation by 1.5% during the 2nd quarter. RNC Capital Management LLC now owns 4,135 shares of the textile maker’s stock valued at $238,000 after purchasing an additional 60 shares in the last quarter. Foster & Motley Inc. increased its holdings in V.F. Corporation by 2.7% during the 2nd quarter. Foster & Motley Inc. now owns 5,095 shares of the textile maker’s stock valued at $293,000 after purchasing an additional 132 shares in the last quarter. Keel Point LLC increased its holdings in V.F. Corporation by 3.4% during the 2nd quarter. Keel Point LLC now owns 4,531 shares of the textile maker’s stock valued at $261,000 after purchasing an additional 148 shares in the last quarter. Finally, Advisor Partners LLC increased its holdings in V.F. Corporation by 4.2% during the 2nd quarter. Advisor Partners LLC now owns 6,806 shares of the textile maker’s stock valued at $392,000 after purchasing an additional 274 shares in the last quarter.

Shares of V.F. Corporation (NYSE VFC) opened at $70.81 on Friday. V.F. Corporation has a twelve month low of $48.05 and a twelve month high of $71.95. The firm has a market capitalization of $27,710.00, a price-to-earnings ratio of 23.00, a P/E/G ratio of 2.37 and a beta of 0.80. The company has a current ratio of 1.47, a quick ratio of 0.97 and a debt-to-equity ratio of 0.54.

V.F. Corporation (NYSE:VFC) last released its quarterly earnings results on Monday, October 23rd. The textile maker reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.11. V.F. Corporation had a return on equity of 29.22% and a net margin of 8.24%. The firm had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period last year, the firm posted $1.20 EPS. The business’s revenue was up 5.4% on a year-over-year basis. equities analysts anticipate that V.F. Corporation will post 3.03 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Friday, December 8th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.60%. This is a boost from V.F. Corporation’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, December 7th. V.F. Corporation’s dividend payout ratio (DPR) is currently 69.71%.

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V.F. Corporation Company Profile

V.F. Corporation (VF) is engaged in the design, production, procurement, marketing and distribution of branded lifestyle apparel, footwear and related products. The Company’s segments include Outdoor & Action Sports, Jeanswear, Imagewear and Sportswear. Its Outdoor & Action Sports Coalition is a group of authentic outdoor and activity-based lifestyle brands.

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