Samlyn Capital LLC Invests $2.52 Million in PVH Corp. (PVH)
Samlyn Capital LLC acquired a new stake in PVH Corp. (NYSE:PVH) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,972 shares of the textile maker’s stock, valued at approximately $2,515,000.
A number of other hedge funds have also recently made changes to their positions in the stock. LS Investment Advisors LLC boosted its stake in PVH Corp. by 1.3% during the second quarter. LS Investment Advisors LLC now owns 3,904 shares of the textile maker’s stock valued at $447,000 after buying an additional 52 shares in the last quarter. First Allied Advisory Services Inc. grew its holdings in PVH Corp. by 2.7% during the second quarter. First Allied Advisory Services Inc. now owns 2,202 shares of the textile maker’s stock worth $249,000 after acquiring an additional 57 shares during the period. Capstone Asset Management Co. raised its position in PVH Corp. by 0.7% in the second quarter. Capstone Asset Management Co. now owns 8,949 shares of the textile maker’s stock worth $1,025,000 after acquiring an additional 64 shares in the last quarter. Allen Investment Management LLC raised its position in PVH Corp. by 2.8% in the first quarter. Allen Investment Management LLC now owns 3,429 shares of the textile maker’s stock worth $355,000 after acquiring an additional 92 shares in the last quarter. Finally, Xact Kapitalforvaltning AB raised its position in PVH Corp. by 0.7% in the second quarter. Xact Kapitalforvaltning AB now owns 13,982 shares of the textile maker’s stock worth $1,601,000 after acquiring an additional 95 shares in the last quarter. 95.32% of the stock is owned by institutional investors and hedge funds.
In related news, SVP James Holmes sold 851 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $126.99, for a total transaction of $108,068.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael A. Shaffer sold 45,525 shares of the stock in a transaction that occurred on 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. In the last ninety days, insiders have sold 84,832 shares of company stock worth $10,050,906. 1.50% of the stock is currently owned by insiders.
Several equities analysts have recently weighed in on the stock. UBS AG restated a “buy” rating and set a $128.00 price objective (up previously from $120.00) on shares of PVH Corp. in a research report on Monday, June 26th. Piper Jaffray Companies reiterated a “buy” rating and issued a $148.00 target price on shares of PVH Corp. in a report on Sunday. BidaskClub upgraded shares of PVH Corp. from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 10th. 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, August 11th. Finally, Bank of America Corporation started coverage on shares of PVH Corp. in a research note on Thursday, August 3rd. They set a “buy” rating and a $146.00 target price for the company. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $139.19.
Shares of PVH Corp. (NYSE:PVH) traded up 1.152% during midday trading on Wednesday, reaching $127.725. The company’s stock had a trading volume of 99,809 shares. The stock has a 50-day moving average of $125.89 and a 200 day moving average of $111.99. The company has a market cap of $9.89 billion, a price-to-earnings ratio of 24.356 and a beta of 0.46. PVH Corp. has a 12 month low of $84.53 and a 12 month high of $130.75.
PVH Corp. (NYSE:PVH) last posted its earnings results on Wednesday, August 23rd. The textile maker reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. PVH Corp. had a return on equity of 11.67% and a net margin of 4.96%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the firm earned $1.47 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. On average, analysts predict that PVH Corp. will post $7.71 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Thursday, August 24th were given 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 was Tuesday, August 22nd. PVH Corp.’s dividend payout ratio is currently 2.87%.
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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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