PVH Corp. (PVH) Position Raised by Legal & General Group Plc
Legal & General Group Plc increased its stake in shares of PVH Corp. (NYSE:PVH) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 393,972 shares of the textile maker’s stock after buying an additional 12,780 shares during the period. Legal & General Group Plc owned 0.51% of PVH Corp. worth $45,112,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. increased its position in PVH Corp. by 3,001.8% in the first quarter. BlackRock Inc. now owns 5,090,455 shares of the textile maker’s stock valued at $526,711,000 after buying an additional 4,926,341 shares during the last quarter. Congress Asset Management Co. MA bought a new position in PVH Corp. during the second quarter valued at about $47,698,000. Ameriprise Financial Inc. increased its position in PVH Corp. by 17.1% in the first quarter. Ameriprise Financial Inc. now owns 2,692,857 shares of the textile maker’s stock valued at $278,637,000 after buying an additional 393,500 shares during the last quarter. Credit Agricole S A increased its position in PVH Corp. by 104.7% in the first quarter. Credit Agricole S A now owns 763,289 shares of the textile maker’s stock valued at $78,977,000 after buying an additional 390,419 shares during the last quarter. Finally, Korea Investment CORP increased its position in PVH Corp. by 442.2% in the second quarter. Korea Investment CORP now owns 360,530 shares of the textile maker’s stock valued at $41,281,000 after buying an additional 294,030 shares during the last quarter. 94.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of PVH Corp. (NYSE:PVH) opened at 126.23 on Tuesday. PVH Corp. has a 52-week low of $84.53 and a 52-week high of $130.25. The firm has a market capitalization of $9.82 billion, a PE ratio of 24.07 and a beta of 0.51. The company’s 50-day moving average is $119.13 and its 200 day moving average is $104.92.
PVH Corp. (NYSE:PVH) last posted its quarterly earnings results on Wednesday, August 23rd. The textile maker reported $1.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.04. PVH Corp. had a return on equity of 11.67% and a net margin of 4.96%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the business earned $1.47 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts expect that PVH Corp. will post $7.70 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 paid a dividend of $0.038 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date is Tuesday, August 22nd. PVH Corp.’s dividend payout ratio (DPR) is presently 2.87%.
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PVH has been the topic of several recent analyst reports. J P Morgan Chase & Co raised shares of PVH Corp. from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $116.00 to $125.00 in a report on Thursday, May 25th. Credit Suisse Group raised shares of PVH Corp. from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $114.00 to $136.00 in a report on Tuesday, May 30th. Zacks Investment Research downgraded shares of PVH Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. BidaskClub upgraded shares of PVH Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Piper Jaffray Companies set a $120.00 target price on shares of PVH Corp. and gave the company a “buy” rating in a research report on Wednesday, June 14th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. PVH Corp. presently has an average rating of “Buy” and an average target price of $137.00.
In other news, CEO Steven B. Shiffman sold 2,200 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $105.82, for a total transaction of $232,804.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael A. Shaffer sold 45,525 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $111.37, for a total value of $5,070,119.25. The disclosure for this sale can be found here. Insiders have sold a total of 65,997 shares of company stock valued at $7,430,146 over the last ninety days. Company insiders own 1.50% of the company’s stock.
About PVH Corp.
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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