Cornerstone Capital Management Holdings LLC. Increases Holdings in PVH Corp. (PVH)
Cornerstone Capital Management Holdings LLC. boosted its stake in PVH Corp. (NYSE:PVH) by 333.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 100,566 shares of the textile maker’s stock after acquiring an additional 77,339 shares during the period. Cornerstone Capital Management Holdings LLC. owned 0.13% of PVH worth $12,676,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Janus Henderson Group PLC raised its position in shares of PVH by 75.1% in the second quarter. Janus Henderson Group PLC now owns 22,416 shares of the textile maker’s stock valued at $2,567,000 after purchasing an additional 9,611 shares during the period. Caxton Associates LP bought a new stake in shares of PVH in the second quarter valued at approximately $7,443,000. Columbus Circle Investors bought a new stake in shares of PVH in the third quarter valued at approximately $30,247,000. TIAA CREF Investment Management LLC raised its position in shares of PVH by 8.7% in the second quarter. TIAA CREF Investment Management LLC now owns 491,022 shares of the textile maker’s stock valued at $56,222,000 after purchasing an additional 39,164 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of PVH by 8.7% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 180,903 shares of the textile maker’s stock valued at $20,713,000 after purchasing an additional 14,434 shares during the period. 94.36% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently commented on PVH shares. Zacks Investment Research raised shares of PVH from a “hold” rating to a “buy” rating and set a $135.00 price objective for the company in a research note on Thursday, August 24th. UBS reaffirmed a “buy” rating and set a $140.00 price objective (up previously from $128.00) on shares of PVH in a research note on Thursday, August 24th. Cowen set a $145.00 price objective on shares of PVH and gave the company a “buy” rating in a research note on Wednesday, August 23rd. BidaskClub cut shares of PVH from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 23rd. Finally, FBR & Co set a $135.00 price objective on shares of PVH and gave the company a “buy” rating in a research note on Monday, August 21st. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $143.94.
PVH Corp. (NYSE PVH) traded down $0.84 during mid-day trading on Tuesday, reaching $134.56. 537,100 shares of the company’s stock were exchanged, compared to its average volume of 1,012,711. The company has a current ratio of 1.82, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. PVH Corp. has a fifty-two week low of $84.53 and a fifty-two week high of $139.51. The stock has a market cap of $10,416.23, a PE ratio of 17.84, a PEG ratio of 1.33 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 EPS for the quarter, topping 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 business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the company earned $2.60 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. sell-side analysts forecast that PVH Corp. will post 7.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 22nd will be paid a $0.038 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. PVH’s dividend payout ratio is presently 2.23%.
In other PVH news, SVP James Holmes sold 851 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $126.99, for a total value of $108,068.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is owned by insiders.
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PVH Company Profile
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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