PVH Corp (NYSE:PVH) Position Boosted by Rockefeller Capital Management L.P.
Rockefeller Capital Management L.P. boosted its position in shares of PVH Corp (NYSE:PVH) by 187.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,188 shares of the textile maker’s stock after acquiring an additional 774 shares during the period. Rockefeller Capital Management L.P.’s holdings in PVH were worth $145,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of PVH. Vanguard Group Inc raised its holdings in shares of PVH by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 7,930,508 shares of the textile maker’s stock valued at $1,145,165,000 after purchasing an additional 88,970 shares in the last quarter. FMR LLC raised its stake in PVH by 6.0% during the 4th quarter. FMR LLC now owns 6,756,096 shares of the textile maker’s stock worth $627,978,000 after acquiring an additional 384,943 shares in the last quarter. Pzena Investment Management LLC acquired a new stake in PVH during the 1st quarter worth $237,285,000. Dimensional Fund Advisors LP raised its stake in PVH by 19.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,446,545 shares of the textile maker’s stock worth $176,454,000 after acquiring an additional 233,638 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in PVH by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 1,207,475 shares of the textile maker’s stock worth $112,075,000 after acquiring an additional 44,504 shares in the last quarter. 94.96% of the stock is owned by institutional investors.
In other news, Director Henry Nasella purchased 1,200 shares of the stock in a transaction dated Friday, May 31st. The shares were bought at an average cost of $82.84 per share, for a total transaction of $99,408.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Francis K. Duane sold 6,171 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $127.27, for a total value of $785,383.17. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.
PVH (NYSE:PVH) last issued its earnings results on Wednesday, May 29th. The textile maker reported $2.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.44 by $0.02. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.37 billion. PVH had a net margin of 6.69% and a return on equity of 13.03%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.36 earnings per share. On average, equities analysts predict that PVH Corp will post 10.27 earnings per share for the current fiscal year.
PVH declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 27th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the textile maker to repurchase up to 8.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd will be given a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Tuesday, May 21st. PVH’s dividend payout ratio (DPR) is presently 1.56%.
PVH has been the topic of several research analyst reports. Telsey Advisory Group reiterated an “outperform” rating and set a $155.00 price target (up from $145.00) on shares of PVH in a research note on Friday, March 29th. JPMorgan Chase & Co. lifted their price target on shares of PVH from $132.00 to $139.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Wells Fargo & Co set a $140.00 price target on shares of PVH and gave the stock an “outperform” rating in a research note on Thursday, March 28th. UBS Group lifted their price target on shares of PVH from $145.00 to $159.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Finally, DA Davidson cut their price target on shares of PVH to $105.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. PVH presently has a consensus rating of “Buy” and a consensus target price of $129.42.
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PVH Corp. operates as an apparel company in North America and internationally. The company operates through six segments: Calvin Klein North America, Calvin Klein International, Tommy Hilfiger North America, Tommy Hilfiger International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's and women's apparel and accessories, including branded dress shirts, dresses, suits, neckwear, sportswear, jeans wear, performance and intimate apparel, underwear, swimwear, swim products, handbags, luggage products, footwear, golf apparel, sleepwear and loungewear, fragrances, cosmetics, skincare products and toiletries, socks and tights, jewelry, watches, outerwear, small leather goods, and furnishings, as well as other related products.
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