US Bancorp DE decreased its stake in PVH Corp. (NYSE:PVH) by 7.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,691 shares of the textile maker’s stock after selling 467 shares during the period. US Bancorp DE’s holdings in PVH Corp. were worth $652,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. Macquarie Group Ltd. raised its stake in PVH Corp. by 180.0% in the fourth quarter. Macquarie Group Ltd. now owns 128,287 shares of the textile maker’s stock valued at $11,576,000 after buying an additional 82,472 shares during the last quarter. Prudential Financial Inc. raised its stake in PVH Corp. by 3.2% in the first quarter. Prudential Financial Inc. now owns 438,951 shares of the textile maker’s stock valued at $45,419,000 after buying an additional 13,671 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in PVH Corp. during the first quarter valued at approximately $236,000. Global X Management Co. LLC raised its stake in PVH Corp. by 36.2% in the first quarter. Global X Management Co. LLC now owns 8,334 shares of the textile maker’s stock valued at $862,000 after buying an additional 2,214 shares during the last quarter. Finally, BlackRock Inc. raised its stake 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. 98.12% of the stock is currently owned by institutional investors and hedge funds.
PVH Corp. (PVH) traded up 0.09% during midday trading on Tuesday, reaching $124.48. 374,402 shares of the company were exchanged. The stock has a market capitalization of $9.69 billion, a P/E ratio of 25.73 and a beta of 0.51. PVH Corp. has a 52 week low of $84.53 and a 52 week high of $126.11. The firm’s 50 day moving average price is $116.86 and its 200-day moving average price is $103.02.
PVH Corp. (NYSE:PVH) last announced its earnings results on Wednesday, May 24th. The textile maker reported $1.65 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the company posted $1.50 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts forecast that PVH Corp. will post $7.53 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Thursday, August 24th will be paid a dividend of $0.038 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.15 annualized dividend and a yield of 0.12%. PVH Corp.’s dividend payout ratio (DPR) is presently 3.11%.
PVH has been the topic of several research reports. Bank of America Corporation began coverage on shares of PVH Corp. in a research note on Thursday, August 3rd. They set a “buy” rating and a $146.00 price objective on the stock. Zacks Investment Research cut shares of PVH Corp. from a “buy” rating to a “hold” rating in a report on Monday, May 29th. Credit Suisse Group raised shares of PVH Corp. from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $114.00 to $136.00 in a report on Tuesday, May 30th. Citigroup Inc. lifted their target price on shares of PVH Corp. from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, May 30th. Finally, BidaskClub raised shares of PVH Corp. from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. PVH Corp. currently has an average rating of “Buy” and a consensus target price of $126.53.
In other news, CEO Francis K. Duane sold 2,497 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $105.99, for a total transaction of $264,657.03. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David F. Kozel sold 5,636 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $105.00, for a total transaction of $591,780.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,627 shares of company stock worth $6,584,743. 1.50% of the stock is currently owned by corporate insiders.
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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