BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stake in PVH Corp. (PVH)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in PVH Corp. (NYSE:PVH) by 14.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,139 shares of the textile maker’s stock after selling 6,427 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in PVH were worth $4,682,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of PVH. Advisors Asset Management Inc. increased its stake in shares of PVH by 28.2% in the second quarter. Advisors Asset Management Inc. now owns 927 shares of the textile maker’s stock worth $106,000 after acquiring an additional 204 shares during the last quarter. YorkBridge Wealth Partners LLC acquired a new position in shares of PVH in the third quarter worth $108,000. Fiduciary Trust Co. acquired a new position in shares of PVH in the second quarter worth $138,000. Penserra Capital Management LLC boosted its holdings in PVH by 24.7% in the second quarter. Penserra Capital Management LLC now owns 1,664 shares of the textile maker’s stock worth $190,000 after purchasing an additional 330 shares in the last quarter. Finally, Cadence Capital Management LLC bought a new stake in PVH in the second quarter worth $200,000. 94.36% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on PVH. Cowen set a $145.00 price objective on shares of PVH and gave the stock a “buy” rating in a report on Wednesday, November 1st. Zacks Investment Research cut shares of PVH from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Wells Fargo & Company set a $158.00 price objective on shares of PVH and gave the stock an “outperform” rating in a report on Thursday, November 30th. Barclays began coverage on shares of PVH in a report on Tuesday, September 19th. They issued an “overweight” rating and a $147.00 price objective for the company. Finally, J P Morgan Chase & Co set a $160.00 price objective on shares of PVH and gave the stock a “buy” rating in a report on Thursday, November 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $143.94.
PVH Corp. (NYSE:PVH) traded down $0.33 during mid-day trading on Thursday, reaching $132.61. 791,300 shares of the company’s stock were exchanged, compared to its average volume of 1,010,823. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.82 and a quick ratio of 0.97. PVH Corp. has a one year low of $84.53 and a one year high of $139.51. The company has a market capitalization of $10,226.99, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.31 and a beta of 0.61.
PVH (NYSE:PVH) last released its quarterly earnings results on Wednesday, November 29th. The textile maker reported $3.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.91 by $0.11. PVH had a net margin of 6.22% and a return on equity of 11.95%. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the prior year, the company earned $2.60 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. equities analysts forecast that PVH Corp. will post 7.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 22nd will be issued a dividend of $0.038 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Tuesday, November 21st. PVH’s dividend payout ratio (DPR) is 2.23%.
In other PVH news, SVP James Holmes sold 851 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $126.99, for a total transaction of $108,068.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.
PVH Corp. is an apparel company. The Company operates through three segments: Calvin Klein, which consists of the Calvin Klein North America and Calvin Klein International segments; Tommy Hilfiger, which consists of the Tommy Hilfiger North America and Tommy Hilfiger International segments, and Heritage Brands, which consists of the Heritage Brands Wholesale and Heritage Brands Retail segments.
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