V.F. Corporation (VFC) Declined in Q4 on Management Guidance

Diamond Hill Capital, an investment management company, released its “Large Cap Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy returned 10.96% net in the fourth quarter compared to a 7.24% return for the Russell 1000 Index. Holdings in the technology and consumer discretionary sectors helped the strategy to outperform in the quarter. The strategy returned better than the index during 2022 but still declined by double digits. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Diamond Hill Large Cap Strategy highlighted stocks like V.F. Corporation (NYSE:VFC) in the Q4 2022 investor letter. Headquartered in Denver, Colorado, V.F. Corporation (NYSE:VFC) is a branded lifestyle apparel, footwear, and related products company. On February 14, 2023, V.F. Corporation (NYSE:VFC)  stock closed at $27.62 per share. One-month return of V.F. Corporation (NYSE:VFC) was -8.12%, and its shares lost 54.68% of their value over the last 52 weeks. V.F. Corporation (NYSE:VFC)  has a market capitalization of $10.735 billion.

Diamond Hill Large Cap Strategy made the following comment about V.F. Corporation (NYSE:VFC) in its Q4 2022 investor letter:

“Apparel and footwear company V.F. Corporation (NYSE:VFC)’s stock declined in Q4 after management lowered guidance based on weaker-than-expected demand in North America, higher promotions and elevated wholesale order cancellations. The company also announced a CEO transition, effective immediately. Following these developments, we sold our shares in favor of higher conviction ideas.”

Apparel, Clothes

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V.F. Corporation (NYSE:VFC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 26 hedge fund portfolios held  V.F. Corporation (NYSE:VFC)  at the end of the third quarter, which was 29 in the previous quarter.

We discussed V.F. Corporation (NYSE:VFC) in another article and shared the list of largest apparel companies in the world. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.