Advisors Asset Management Inc. Boosts Position in PVH Corp. (PVH)
Advisors Asset Management Inc. boosted its stake in PVH Corp. (NYSE:PVH) by 28.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 927 shares of the textile maker’s stock after acquiring an additional 204 shares during the quarter. Advisors Asset Management Inc.’s holdings in PVH Corp. were worth $106,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. FNY Partners Fund LP lifted its position in PVH Corp. by 53.3% during the 1st quarter. FNY Partners Fund LP now owns 1,150 shares of the textile maker’s stock worth $118,000 after buying an additional 400 shares in the last quarter. Penserra Capital Management LLC lifted its position in PVH Corp. by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,334 shares of the textile maker’s stock worth $138,000 after buying an additional 116 shares in the last quarter. NINE MASTS CAPITAL Ltd bought a new stake in PVH Corp. during the 1st quarter worth about $155,000. Ameritas Investment Partners Inc. bought a new stake in PVH Corp. during the 1st quarter worth about $198,000. Finally, Cleararc Capital Inc. bought a new stake in PVH Corp. during the 1st quarter worth about $202,000. 95.24% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on the stock. UBS AG reissued a “buy” rating and set a $120.00 price target (up from $116.00) on shares of PVH Corp. in a research report on Thursday, May 25th. BidaskClub raised shares of PVH Corp. from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 10th. Cowen and Company set a $140.00 price target on shares of PVH Corp. and gave the stock a “buy” rating in a research report on Friday, August 11th. B. Riley reissued a “buy” rating and set a $128.00 price target on shares of PVH Corp. in a research report on Tuesday, May 30th. Finally, Piper Jaffray Companies set a $120.00 price target on shares of PVH Corp. and gave the stock a “buy” rating in a research report on Thursday, May 25th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $137.00.
PVH Corp. (NYSE PVH) opened at 127.76 on Monday. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 24.36 and a beta of 0.46. The stock’s 50 day moving average is $122.97 and its 200 day moving average is $107.40. PVH Corp. has a 1-year low of $84.53 and a 1-year high of $130.75.
PVH Corp. (NYSE:PVH) last released its quarterly earnings results on Wednesday, August 23rd. The textile maker reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. PVH Corp. had a net margin of 4.96% and a return on equity of 11.67%. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the firm earned $1.47 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. Analysts predict that PVH Corp. will post $7.71 EPS for the current fiscal year.
The company 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 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 of this dividend is Tuesday, August 22nd. PVH Corp.’s payout ratio is currently 2.87%.
In related news, EVP Mark D. Fischer sold 5,589 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $128.47, for a total transaction of $718,018.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael A. Shaffer sold 45,525 shares of the firm’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $111.37, for a total transaction of $5,070,119.25. The disclosure for this sale can be found here. Insiders have sold 89,950 shares of company stock worth $10,601,025 over the last three months. 1.50% of the stock is owned by insiders.
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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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