PVH Corp. (NYSE:PVH) Position Cut by Strs Ohio
Strs Ohio cut its stake in shares of PVH Corp. (NYSE:PVH) by 41.3% during the second quarter, Holdings Channel reports. The fund owned 13,861 shares of the textile maker’s stock after selling 9,761 shares during the period. Strs Ohio’s holdings in PVH Corp. were worth $1,587,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Congress Asset Management Co. MA purchased a new stake in shares of PVH Corp. during the second quarter valued at approximately $47,698,000. Acadian Asset Management LLC increased its stake in shares of PVH Corp. by 727.1% in the second quarter. Acadian Asset Management LLC now owns 6,385 shares of the textile maker’s stock valued at $731,000 after buying an additional 5,613 shares during the last quarter. Parametrica Management Ltd purchased a new stake in shares of PVH Corp. during the second quarter valued at approximately $306,000. Russell Investments Group Ltd. increased its stake in shares of PVH Corp. by 59.7% in the second quarter. Russell Investments Group Ltd. now owns 291,586 shares of the textile maker’s stock valued at $33,398,000 after buying an additional 108,988 shares during the last quarter. Finally, Regentatlantic Capital LLC increased its stake in shares of PVH Corp. by 2.4% in the second quarter. Regentatlantic Capital LLC now owns 33,351 shares of the textile maker’s stock valued at $3,819,000 after buying an additional 786 shares during the last quarter. 97.42% of the stock is owned by hedge funds and other institutional investors.
PVH Corp. (NYSE PVH) opened at 123.88 on Friday. The company’s 50-day moving average is $116.46 and its 200 day moving average is $102.67. The firm has a market cap of $9.64 billion, a PE ratio of 25.61 and a beta of 0.51. PVH Corp. has a one year low of $84.53 and a one year high of $126.11.
PVH Corp. (NYSE:PVH) last posted its quarterly earnings results on Wednesday, May 24th. The textile maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.05. PVH Corp. had a net margin of 4.69% and a return on equity of 11.57%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm posted $1.50 EPS. PVH Corp.’s revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that PVH Corp. will post $7.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Thursday, August 24th will be given a $0.038 dividend. 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 payout ratio is currently 3.11%.
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Several brokerages have commented on PVH. Cowen and Company set a $140.00 target price on shares of PVH Corp. and gave the company a “buy” rating in a research note on Friday. BidaskClub raised shares of PVH Corp. from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Piper Jaffray Companies set a $143.00 target price on shares of PVH Corp. and gave the company a “buy” rating in a research note on Monday, August 7th. Bank of America Corporation began coverage on shares of PVH Corp. in a research note on Thursday, August 3rd. They issued a “buy” rating and a $146.00 target price for the company. Finally, Buckingham Research reaffirmed a “buy” rating and issued a $127.00 target price on shares of PVH Corp. in a research note on Monday, July 17th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $126.53.
In other PVH Corp. news, CEO Francis K. Duane sold 2,497 shares of PVH Corp. stock in a transaction on Friday, May 26th. The shares were sold at an average price of $105.99, for a total transaction of $264,657.03. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Steven B. Shiffman sold 2,200 shares of PVH Corp. stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $105.82, for a total transaction of $232,804.00. The disclosure for this sale can be found here. In the last three months, insiders 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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