Ashfield Capital Partners Lowers stake in VF Corp (VFC)

VF Corp (VFC) : Ashfield Capital Partners reduced its stake in VF Corp by 7.38% during the most recent quarter end. The investment management company now holds a total of 399,334 shares of VF Corp which is valued at $23.9 Million after selling 31,829 shares in VF Corp , the firm said in a disclosure report filed with the SEC on May 13, 2016.VF Corp makes up approximately 1.76% of Ashfield Capital Partners’s portfolio.

Other Hedge Funds, Including , Stevens Capital Management Lp added VFC to its portfolio by purchasing 9,907 company shares during the most recent quarter which is valued at $593,727. VF Corp makes up approx 0.02% of Stevens Capital Management Lp’s portfolio.King Luther Capital Management Corp boosted its stake in VFC in the latest quarter, The investment management firm added 1,700 additional shares and now holds a total of 1,823,829 shares of VF Corp which is valued at $109.3 Million. VF Corp makes up approx 1.08% of King Luther Capital Management Corp’s portfolio.Janney Montgomery Scott reduced its stake in VFC by selling 48,647 shares or 72.7% in the most recent quarter. The Hedge Fund company now holds 18,267 shares of VFC which is valued at $1.1 Million. VF Corp makes up approx 0.03% of Janney Montgomery Scott’s portfolio.Mutual Of America Capital Management boosted its stake in VFC in the latest quarter, The investment management firm added 1,956 additional shares and now holds a total of 40,398 shares of VF Corp which is valued at $2.4 Million. VF Corp makes up approx 0.05% of Mutual Of America Capital Management’s portfolio.Bbva Compass Bancshares Inc boosted its stake in VFC in the latest quarter, The investment management firm added 10,957 additional shares and now holds a total of 32,739 shares of VF Corp which is valued at $2.1 Million. VF Corp makes up approx 0.16% of Bbva Compass Bancshares Inc’s portfolio.

VF Corp opened for trading at $61.8 and hit $62.42 on the upside on Wednesday, eventually ending the session at $62.15, with a gain of 0.11% or 0.07 points. The heightened volatility saw the trading volume jump to 20,34,470 shares. Company has a market cap of $25,918 M.

On the company’s financial health, VF Corp reported $0.61 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.58. The company had revenue of $2839.30 million for the quarter, compared to analysts expectations of $2831.27 million. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS.

Investors should note that on Apr 29, 2016, VF Corp announced a cash dividend of $0.3700. The company’s management has announced Jun 8, 2016 as the ex-dividend date and fixed the record date on Jun 10, 2016. The payable date has been fixed on Jun 20, 2016.

Many Wall Street Analysts have commented on VF Corp. VF Corp was Downgraded by BB&T Capital Mkts to ” Hold” on Apr 25, 2016. Shares were Reiterated by Telsey Advisory Group on Feb 22, 2016 to “Outperform” and Lowered the Price Target to $ 70 from a previous price target of $75 .Shares were Reiterated by Canaccord Genuity on Feb 22, 2016 to “Buy” and Lowered the Price Target to $ 82 from a previous price target of $83 .

V.F. Corporation (VF) is engaged in the design manufacturing marketing and distribution of branded lifestyle apparel footwear and accessories. The Company operates through five coalitions: Outdoor & Action Sports Jeanswear Imagewear Sportswear and Contemporary Brands. The Company owns a portfolio of brands in the outerwear footwear denim backpack luggage accessory sportswear occupational and performance apparel categories. The Company’s brands primarily include The North Face Vans Timberland Wrangler Lee and Nautica. The Company’s products are marketed to consumers shopping in specialty stores upscale and traditional department stores national chains mass merchants and its own direct-to-consumer operations. Its direct-to-consumer business includes VF-operated stores concession retail stores and e-commerce sites. The Company’s brands sell products in international markets through licensees distributors and independently-operated partnership stores.

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