Santa Barbara Asset Management Lowers stake in VF Corp (VFC)

VF Corp (VFC) : Santa Barbara Asset Management reduced its stake in VF Corp by 1.88% during the most recent quarter end. The investment management company now holds a total of 2,069,510 shares of VF Corp which is valued at $124 Million after selling 39,732 shares in VF Corp , the firm said in a disclosure report filed with the SEC on May 11, 2016.VF Corp makes up approximately 2.43% of Santa Barbara Asset Management’s portfolio.

Other Hedge Funds, Including , Comerica Bank reduced its stake in VFC by selling 3,438 shares or 2.08% in the most recent quarter. The Hedge Fund company now holds 161,984 shares of VFC which is valued at $9.7 Million. VF Corp makes up approx 0.09% of Comerica Bank’s portfolio. Thompson Siegel Walmsley sold out all of its stake in VFC during the most recent quarter. The investment firm sold 200 shares of VFC which is valued $11,986.Ibm Retirement Fund reduced its stake in VFC by selling 38,440 shares or 46.39% in the most recent quarter. The Hedge Fund company now holds 44,420 shares of VFC which is valued at $2.7 Million. VF Corp makes up approx 0.10% of Ibm Retirement Fund’s portfolio.Oak Ridge Investments reduced its stake in VFC by selling 1,704 shares or 1.03% in the most recent quarter. The Hedge Fund company now holds 163,740 shares of VFC which is valued at $9.8 Million. VF Corp makes up approx 0.26% of Oak Ridge Investments’s portfolio.

VF Corp opened for trading at $60.18 and hit $61 on the upside on Monday, eventually ending the session at $60.71, with a gain of 1.30% or 0.78 points. The heightened volatility saw the trading volume jump to 17,58,476 shares. Company has a market cap of $25,317 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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