In a recent transaction, Darrell Bracken, the President and Chief Executive Officer of V F Corp (NYSE:VFC), expanded his stake in the company through the purchase of shares valued at approximately $997,000. The acquisition, dated June 10, was part of a series of transactions at prices ranging from $13.20 to $13.30 per share, with a weighted average price of $13.2634.
The significant investment by the company's President reflects a notable addition to his holdings, with Bracken acquiring 75,200 shares of V F Corp's common stock. Following this transaction, the updated total of shares owned by Bracken in the company stands at 219,972.182.
V F Corp, known for its position in the apparel industry, has its shares publicly traded under the ticker symbol VFC. The company specializes in men's and boys' furnishings, work clothing, and allied garments, with a longstanding history in the sector.
Investors often keep a close eye on insider transactions such as these, as they can provide insights into the executives' perspectives on the company's current valuation and future prospects. The President's investment is a demonstration of confidence in the company's performance and potential.
The transaction details, including the exact number of shares acquired at each separate price within the specified range, have been made available for review upon request to interested parties, including VF Corporation (NYSE:VFC)'s security holders and the SEC staff, as per the reporting requirements.
The reported transactions are filed with the Securities and Exchange Commission and are publicly accessible for review by shareholders and market analysts.
In other recent news, VF Corporation has seen a reshuffling in its management, with new appointments at the helm of its brands, The North Face and Vans. Caroline Brown has stepped into the role of Global Brand President of The North Face, while Michelle (Sun) Choe is set to become the Global Brand President of Vans later in July. Both appointments have been met with optimism, with analysts from Stifel and BTIG viewing these changes as positive for the company's strategic initiatives and brand revitalization efforts.
Stifel has reiterated its Buy rating on VF Corp, maintaining confidence in the company's turnaround efforts and strategic moves. Meanwhile, BTIG has maintained a Neutral rating, but emphasized the potential positive impact of the management change at Vans. On the other hand, UBS has adjusted its outlook on VF Corp by reducing its price target, while maintaining a Neutral rating, awaiting a shift in the company's sales and earnings per share growth trends.
In addition to the leadership changes at the brand level, VF Corporation has also welcomed Mindy Grossman and Kirk Tanner as independent directors to its Board. These recent developments are part of VF's ongoing board refreshment process and its collaboration with shareholder Engaged Capital.
InvestingPro Insights
In light of the recent insider transactions at V F Corp (NYSE:VFC), where President and CEO Darrell Bracken significantly increased his stake in the company, market participants may find additional context through InvestingPro's data and analytical insights. According to InvestingPro, V F Corp has maintained dividend payments for an impressive 54 consecutive years, signaling a strong commitment to returning value to shareholders. This is particularly noteworthy as it aligns with Bracken's recent vote of confidence in the company's financial health and future prospects.
InvestingPro data also reveals that V F Corp's market capitalization currently stands at $5.12 billion, with a dividend yield of 2.65%, as of the latest data point. Despite a challenging period with revenue growth showing a decline of 9.97% over the last twelve months as of Q4 2024, the company's gross profit margin remains robust at 52.05%, indicating a strong ability to maintain profitability on its products.
An InvestingPro Tip suggests that net income is expected to grow this year, which could be a catalyst for future share price appreciation. This tip may be particularly relevant for investors considering the recent insider buying as a signal of potential turnaround or growth on the horizon. Moreover, there are additional 13 InvestingPro Tips available for V F Corp, providing deeper insights that could guide investment decisions. Interested investors can explore these tips and more by visiting https://www.investing.com/pro/VFC and using the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
The data and insights provided by InvestingPro, coupled with the recent insider buying activity, offer a comprehensive picture for current and potential investors to consider regarding V F Corp's financial standing and market position.
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