Pioneer Investment Management Inc. Acquires 154,449 Shares of PVH Corp. (NYSE:PVH)
Pioneer Investment Management Inc. raised its position in PVH Corp. (NYSE:PVH) by 505.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 185,030 shares of the textile maker’s stock after buying an additional 154,449 shares during the period. Pioneer Investment Management Inc.’s holdings in PVH Corp. were worth $21,186,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of PVH Corp. by 3,001.8% in the first quarter. BlackRock Inc. now owns 5,090,455 shares of the textile maker’s stock worth $526,711,000 after buying an additional 4,926,341 shares during the last quarter. Congress Asset Management Co. MA acquired a new position in shares of PVH Corp. during the second quarter worth approximately $47,698,000. Ameriprise Financial Inc. boosted its position in shares of PVH Corp. by 17.1% in the first quarter. Ameriprise Financial Inc. now owns 2,692,857 shares of the textile maker’s stock worth $278,637,000 after buying an additional 393,500 shares during the last quarter. Credit Agricole S A boosted its position in shares of PVH Corp. by 104.7% in the first quarter. Credit Agricole S A now owns 763,289 shares of the textile maker’s stock worth $78,977,000 after buying an additional 390,419 shares during the last quarter. Finally, Korea Investment CORP boosted its position in shares of PVH Corp. by 442.2% in the second quarter. Korea Investment CORP now owns 360,530 shares of the textile maker’s stock worth $41,281,000 after buying an additional 294,030 shares during the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.
Shares of PVH Corp. (PVH) opened at 121.63 on Friday. The stock has a market capitalization of $9.47 billion, a PE ratio of 25.15 and a beta of 0.51. The firm has a 50-day moving average of $116.04 and a 200 day moving average of $102.44. PVH Corp. has a 52-week low of $84.53 and a 52-week high of $126.11.
PVH Corp. (NYSE:PVH) last announced its earnings results on Wednesday, May 24th. The textile maker reported $1.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.05. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. PVH Corp. had a net margin of 4.69% and a return on equity of 11.57%. PVH Corp.’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.50 earnings per share. Equities research analysts forecast that PVH Corp. will post $7.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Thursday, August 24th will be paid a dividend of $0.038 per share. This represents a $0.15 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, August 22nd. PVH Corp.’s dividend payout ratio (DPR) is presently 3.11%.
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PVH has been the subject of a number of recent research reports. J P Morgan Chase & Co raised shares of PVH Corp. from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $116.00 to $125.00 in a research note on Thursday, May 25th. Credit Suisse Group raised shares of PVH Corp. from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $114.00 to $136.00 in a research note on Tuesday, May 30th. BidaskClub raised shares of PVH Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Zacks Investment Research cut shares of PVH Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Piper Jaffray Companies set a $120.00 price objective on shares of PVH Corp. and gave the stock a “buy” rating in a research note on Wednesday, June 14th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. PVH Corp. has an average rating of “Buy” and a consensus price target of $125.47.
In other PVH Corp. news, CEO Steven B. Shiffman sold 2,200 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $105.82, for a total transaction of $232,804.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David F. Kozel sold 5,636 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $105.00, for a total transaction of $591,780.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,627 shares of company stock valued at $6,584,743. 1.30% of the stock is currently owned by insiders.
PVH Corp. 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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