PVH Corp. (NYSE:PVH) Shares Sold by TD Asset Management Inc.
TD Asset Management Inc. reduced its stake in shares of PVH Corp. (NYSE:PVH) by 2.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 284,047 shares of the textile maker’s stock after selling 7,528 shares during the period. TD Asset Management Inc.’s holdings in PVH Corp. were worth $32,523,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its position in shares of PVH Corp. by 27.0% in the first quarter. Janney Montgomery Scott LLC now owns 6,406 shares of the textile maker’s stock valued at $663,000 after buying an additional 1,361 shares during the last quarter. Clear Harbor Asset Management LLC bought a new position in shares of PVH Corp. during the first quarter valued at about $442,000. Glen Harbor Capital Management LLC boosted its position in shares of PVH Corp. by 515.5% in the first quarter. Glen Harbor Capital Management LLC now owns 54,628 shares of the textile maker’s stock valued at $5,652,000 after buying an additional 45,752 shares during the last quarter. Howard Hughes Medical Institute boosted its position in shares of PVH Corp. by 23.9% in the first quarter. Howard Hughes Medical Institute now owns 4,522 shares of the textile maker’s stock valued at $468,000 after buying an additional 872 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of PVH Corp. by 6.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,174 shares of the textile maker’s stock valued at $210,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.
PVH Corp. (PVH) opened at 121.63 on Friday. The stock has a market cap of $9.47 billion, a P/E ratio of 25.15 and a beta of 0.51. The firm’s 50-day moving average is $116.04 and its 200-day moving average is $102.44. PVH Corp. has a 12 month low of $84.53 and a 12 month high of $126.11.
PVH Corp. (NYSE:PVH) last announced 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 company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts forecast that PVH Corp. will post $7.52 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Thursday, August 24th will be issued a dividend of $0.038 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend is Tuesday, August 22nd. PVH Corp.’s dividend payout ratio (DPR) is 3.11%.
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Several research analysts have recently issued reports on the stock. BidaskClub upgraded shares of PVH Corp. from a “buy” rating to a “strong-buy” rating in a report 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 report on Monday. Bank of America Corporation assumed coverage on shares of PVH Corp. in a report on Thursday, August 3rd. They issued a “buy” rating and a $146.00 target price for the company. Cowen and Company set a $120.00 target price on shares of PVH Corp. and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, Buckingham Research restated a “buy” rating and issued a $127.00 target price on shares of PVH Corp. in a report on Monday, July 17th. Three investment 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 stock. The company currently has an average rating of “Buy” and an average target price of $125.47.
In other news, SVP Dana Perlman sold 769 shares of the business’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $114.77, for a total transaction of $88,258.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Francis K. Duane sold 2,497 shares of the business’s 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 disclosure for this sale can be found here. In the last three months, insiders have sold 59,627 shares of company stock valued at $6,584,743. Corporate insiders own 1.30% of the company’s stock.
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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