Shake-Up Alert: 40 Companies Facing Activist Pressure

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23. Engaged Capital at V.F. Corporation (NYSE:VFC)

Stock Return: 20.6%

S&P 500 Return: -5.8%

Investment date: 17/10/2023

Number of hedge funds holding stakes: 33

V.F. Corporation (NYSE:VFC) is a conglomerate of consumer footwear and clothing brands. It designs, manufactures, and sells branded lifestyle clothing, shoes, and accessories. Activist hedge fund Engaged Capital has been pushing for board representation in the owner of North Face, vans, and Timberland brands.

The hedge fund is pushing for board representation to influence its strategic direction, which involves cutting costs and exploring strategic alternatives such as selling non-core brands or the entire business.

V.F. Corporation (NYSE:VFC) has been down by 9.78% in the year to date. As of the end of the first quarter, 33 out of 920 hedge funds tracked by Insider Monkey held stakes in the company, up from 30 as of 2023.

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