Pacwest Financial Management Inc Lowers stake in VF Corp (VFC)

VF Corp (VFC) : Pacwest Financial Management Inc reduced its stake in VF Corp by 1.6% during the most recent quarter end. The investment management company now holds a total of 53,707 shares of VF Corp which is valued at $3,386,226 after selling 875 shares in VF Corp , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.VF Corp makes up approximately 2.18% of Pacwest Financial Management Inc’s portfolio.

VF Corp opened for trading at $62.49 and hit $64.68 on the upside on Monday, eventually ending the session at $64.65, with a gain of 2.54% or 1.6 points. The heightened volatility saw the trading volume jump to 34,45,173 shares. Company has a market cap of $27,442 M.

Other Hedge Funds, Including , Palladium Partners reduced its stake in VFC by selling 50 shares or 0.18% in the most recent quarter. The Hedge Fund company now holds 27,545 shares of VFC which is valued at $1,736,712. VF Corp makes up approx 0.16% of Palladium Partners’s portfolio. Oliver Luxxe Assets sold out all of its stake in VFC during the most recent quarter. The investment firm sold 15,507 shares of VFC which is valued $993,533.New York State Teachers Retirement System reduced its stake in VFC by selling 337 shares or 0.05% in the most recent quarter. The Hedge Fund company now holds 614,549 shares of VFC which is valued at $39,374,154. VF Corp makes up approx 0.10% of New York State Teachers Retirement System’s portfolio.Central Trust Co reduced its stake in VFC by selling 62 shares or 0.79% in the most recent quarter. The Hedge Fund company now holds 7,819 shares of VFC which is valued at $501,120. VF Corp makes up approx 0.04% of Central Trust Co’s portfolio.

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.

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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