Cornerstone Investment Partners Lowers stake in VF Corp (VFC)

VF Corp (VFC) : Cornerstone Investment Partners reduced its stake in VF Corp by 25.74% during the most recent quarter end. The investment management company now holds a total of 1,174,189 shares of VF Corp which is valued at $64,169,429 after selling 407,103 shares in VF Corp , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.VF Corp makes up approximately 2.83% of Cornerstone Investment Partners’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in VFC in the latest quarter, The investment management firm added 4,208 additional shares and now holds a total of 18,703 shares of VF Corp which is valued at $1,022,119. VF Corp makes up approx 0.04% of Msi Financial Services Inc’s portfolio. Dynamic Advisors Solutions added VFC to its portfolio by purchasing 6,419 company shares during the most recent quarter which is valued at $353,302. VF Corp makes up approx 0.14% of Dynamic Advisors Solutions’s portfolio.Perkins Coie Trust Co boosted its stake in VFC in the latest quarter, The investment management firm added 822 additional shares and now holds a total of 30,305 shares of VF Corp which is valued at $1,667,987. VF Corp makes up approx 1.06% of Perkins Coie Trust Co’s portfolio.Pacwest Financial Management Inc reduced its stake in VFC by selling 250 shares or 0.47% in the most recent quarter. The Hedge Fund company now holds 52,672 shares of VFC which is valued at $2,899,067. VF Corp makes up approx 1.78% of Pacwest Financial Management Inc’s portfolio.Catawba Capital Management Va boosted its stake in VFC in the latest quarter, The investment management firm added 915 additional shares and now holds a total of 9,023 shares of VF Corp which is valued at $492,295. VF Corp makes up approx 0.12% of Catawba Capital Management Va’s portfolio.

VF Corp closed down -0.86 points or -1.56% at $54.18 with 20,76,836 shares getting traded on Tuesday. Post opening the session at $55.13, the shares hit an intraday low of $54.12 and an intraday high of $55.14 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, VF Corp reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 22, 2016. Analyst had a consensus of $0.34. The company had revenue of $2445.30 million for the quarter, compared to analysts expectations of $2526.79 million. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.

Many Wall Street Analysts have commented on VF Corp. VF Corp was Initiated by Guggenheim to “Buy” on Sep 30, 2016. VF Corp was Initiated by Susquehanna to “Neutral” on Sep 16, 2016. BofA/Merrill Downgraded VF Corp on Sep 15, 2016 to ” Underperform”, Price Target of the shares are set at $54.

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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