PNC Financial Cuts V.F. Corp Stake to 0.023%

TL;DR

**PNC Financial trimmed its VFC stake, now holding just 0.023%.**

AI Summary

PNC Financial Services Group, Inc. filed an amended SC 13G/A on February 9, 2024, disclosing its ownership in V.F. Corporation (VFC) as of December 31, 2023. PNC now beneficially owns 90,119 shares of VFC's Common Stock, representing 0.023% of the company. This is a decrease from previous filings, indicating PNC has reduced its passive investment in VFC, which could signal a slight shift in institutional confidence or portfolio rebalancing.

Why It Matters

This filing shows a major financial institution, PNC, has reduced its passive stake in V.F. Corporation, which could be interpreted as a minor bearish signal or simply a portfolio adjustment.

Risk Assessment

Risk Level: low — The change in ownership is very small (0.023% of VFC) and represents a passive investment, so it has minimal direct impact on VFC's operations or stock price.

Analyst Insight

Given the extremely small percentage of ownership (0.023%) and the passive nature of the filing, this update from PNC Financial Services Group, Inc. is unlikely to be a significant factor in an investor's decision regarding V.F. Corporation stock. It primarily reflects routine portfolio adjustments by a large institutional investor.

Key Numbers

• 90,119 — Shares Beneficially Owned (Total shares of V.F. Corporation Common Stock held by PNC Financial Services Group, Inc. as of December 31, 2023.)
• 0.023% — Percentage of Class (The percentage of V.F. Corporation's Common Stock that PNC Financial Services Group, Inc. beneficially owns.)
• 52,119 — Sole Voting Power Shares (Number of shares over which PNC Financial Services Group, Inc. has sole voting power.)
• 38,000 — Shared Voting Power Shares (Number of shares over which PNC Financial Services Group, Inc. has shared voting power.)
• December 31, 2023 — Reporting Date (The date as of which the ownership information is reported in the filing.)

Key Players & Entities

• PNC Financial Services Group, Inc. (company) — the entity filing the SC 13G/A, reporting its ownership in V.F. Corporation
• V.F. Corporation (company) — the subject company whose securities are being reported
• 90,119 shares (dollar_amount) — the total number of shares of V.F. Corporation Common Stock beneficially owned by PNC Financial Services Group, Inc. as of December 31, 2023
• 0.023% (dollar_amount) — the percentage of V.F. Corporation's outstanding Common Stock beneficially owned by PNC Financial Services Group, Inc.
• December 31, 2023 (date) — the date of the event which required the filing of this statement

Forward-Looking Statements

• PNC Financial Services Group, Inc. will continue to passively manage its small stake in V.F. Corporation, with no significant increase or decrease in the near term. (PNC Financial Services Group, Inc.) — medium confidence, target: Q3 2024

FAQ

Filing Documents

• d761490dsc13ga.htm (SC 13G/A) — 93KB
• d761490dex99a.htm (EX-99.A) — 7KB
• 0001193125-24-029369.txt ( ) — 102KB

(a) - NAME OF ISSUER

ITEM 1(a) - NAME OF ISSUER: V.F. Corporation

(b) - ADDRESS OF

ITEM 1(b) - ADDRESS OF ISSUERS PRINCIPAL EXECUTIVE OFFICES: 105 Corporate Center Boulevard Greensboro, North Carolina 27408

(a) -

ITEM 2(a) - NAME OF PERSON FILING: The PNC Financial Services Group, Inc.; PNC Bank, National Association; PNC Delaware Trust Company; PNC Ohio Trust Company; and PNC Investments LLC

(b) - ADDRESS OF PRINCIPAL BUSINESS OFFICE

ITEM 2(b) - ADDRESS OF PRINCIPAL BUSINESS OFFICE: The PNC Financial Services Group, Inc. - 300 Fifth Avenue, Pittsburgh, PA 15222-2401 PNC Bank, National Association - 300 Fifth Avenue, Pittsburgh, PA 15222-2401 PNC Delaware Trust Company - 222 Delaware Avenue, Wilmington, DE 19801 PNC Ohio Trust Company - 1900 East 9 th Street, Cleveland, OH 44114 PNC Investments LLC - 300 Fifth Avenue, Pittsburgh, PA 15222-2401

(c) - CITIZENSHIP

ITEM 2(c) - CITIZENSHIP: The PNC Financial Services Group, Inc. - Pennsylvania PNC Bank, National Association - United States PNC Delaware Trust Company - Delaware PNC Ohio Trust Company - Ohio PNC Investments LLC - Delaware

(d) -

ITEM 2(d) - TITLE OF CLASS OF SECURITIES: Common ITEM 2(e) - CUSIP NUMBER: 918204108

- IF

ITEM 3 - IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), OR 13d-2(b), CHECK WHETHER THE PERSON FILING IS A: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) Group, in accordance with 240.13d-1(b)(1)(ii)(K). Page 8 of 10 Pages

- OWNERSHIP

ITEM 4 - OWNERSHIP: The following information is as of December 31, 2023: (a)Amount Beneficially Owned: 38,284,711 (b)Percent of Class: 9.84 (c)Number of shares to which such person has: (i)sole power to vote or to direct the vote 52,119 (ii)shared power to vote or to direct the vote 38,225,833 (iii)sole power to dispose or to direct the disposition of 43,659 (iv)shared power to dispose or to direct the disposition of 38,238,747 Of the total shares of common stock reported herein, 38,225,833 shares (9.83% of the class) are held in Barbey Family Trust accounts for which PNC Bank, National Association (PNC Bank) serves as co-trustee. PNC Bank, as co-trustee, is deemed to share voting power and dispositive power with respect to those 38,225,833 shares. Of the total shares of common stock reported herein, 53,753 shares are held in accounts at PNC Bank in a fiduciary capacity for clients outside of the above-referenced trust accounts. Of the total shares of common stock reported herein, 1,071 shares are held in accounts at PNC Delaware Trust Company in a fiduciary capacity for clients outside of the above-referenced trust accounts. Of the total shares of common stock reported herein, 36 shares are held in accounts at PNC Ohio Trust Company in a fiduciary capacity for clients outside of the above-referenced trust accounts. Of the total shares of common stock reported herein, 4,018 shares are held in accounts at PNC Investments LLC in a fiduciary capacity for clients outside of the above-referenced trust accounts. The inclusion of the reporting persons and such securities in this report shall not be deemed an admission of beneficial ownership by the reporting persons for the purposes of Section 13(d) or 13(g) of the Act, or for any other purposes.

- OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

ITEM 5 - OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS: Not Applicable.

- OWNERSHIP OF MORE THAN

ITEM 6 - OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON: PNC Bank, as co-trustee, shares the power to direct the receipt of dividends from, or the proceeds from the sale of, the common stock held by the Barbey Family Trust accounts noted in Item 4 above. The beneficiaries of the trust have the right to receive dividends from the common stock in their trust accounts. ITEM 7 - IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY: Included are the following subsidiaries of The PNC Financial Services Group, Inc. - HC: PNC Bank, National Association - BK PNC Delaware Trust Company - BK PNC Ohio Trust Company - BK PNC Investments LLC - BD Page 9 of 10 Pages

- IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

ITEM 8 - IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP: Not Applicable.

- NOTICE OF DISSOLUTION

ITEM 9 - NOTICE OF DISSOLUTION OF GROUP: Not Applicable. ITEM 10 - CERTIFICATION: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. February 9, 2024 February 9, 2024 Date Date By: /s/ Gregory H. Kozich By: /s/ Joshua Ott Signature - The PNC Financial Services Group, Inc. Signature PNC Delaware Trust Company Gregory H. Kozich, Senior Vice President & Controller Joshua Ott, Fiduciary Market Director Name & Title Name & Title February 9, 2024 February 9, 2024 Date Date By: /s/ Gregory H. Kozich By: /s/ John Shockley Signature PNC Bank, National Association Signature PNC Ohio Trust Company Gregory H. Kozich, Executive Vice President & Controller John Shockley, President Name & Title Name & Title February 9, 2024 Date By: /s/ Richard R. Guerrini Signature PNC Investments LLC Richard R. Guerrini, President & CEO Name & Title AN AGREEMENT TO FILE A JOINT STATEMENT IS INCLUDED HEREWITH AS EXHIBIT A

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View this SC 13G/A filing on SEC EDGAR