Millennium Management LLC Acquires 507,641 Shares of PVH Corp (PVH)

Millennium Management LLC increased its holdings in shares of PVH Corp (NYSE:PVH) by 118.4% in the 2nd quarter, Holdings Channel reports. The firm owned 936,344 shares of the textile maker’s stock after acquiring an additional 507,641 shares during the quarter. Millennium Management LLC’s holdings in PVH were worth $140,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. IBM Retirement Fund purchased a new position in shares of PVH during the first quarter worth $255,000. Martingale Asset Management L P raised its holdings in shares of PVH by 225.2% during the second quarter. Martingale Asset Management L P now owns 8,811 shares of the textile maker’s stock worth $1,320,000 after purchasing an additional 6,102 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of PVH by 147.7% during the second quarter. Wells Fargo & Company MN now owns 380,409 shares of the textile maker’s stock worth $56,954,000 after purchasing an additional 226,839 shares during the last quarter. Globeflex Capital L P raised its holdings in shares of PVH by 28.7% during the second quarter. Globeflex Capital L P now owns 6,663 shares of the textile maker’s stock worth $998,000 after purchasing an additional 1,484 shares during the last quarter. Finally, Third Point LLC purchased a new position in shares of PVH during the second quarter worth $93,575,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on PVH. ValuEngine cut shares of PVH from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Deutsche Bank raised their target price on shares of PVH from $171.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. UBS Group began coverage on shares of PVH in a report on Thursday, June 21st. They set a “neutral” rating and a $180.00 target price for the company. Citigroup lifted their price objective on shares of PVH from $179.00 to $188.00 and gave the company a “buy” rating in a report on Friday, June 15th. Finally, Deutsche Bank cut their price objective on shares of PVH from $179.00 to $176.00 and set a “buy” rating for the company in a report on Friday, May 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. PVH has an average rating of “Buy” and an average price target of $173.16.

PVH opened at $139.54 on Friday. PVH Corp has a fifty-two week low of $120.91 and a fifty-two week high of $169.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.72 and a quick ratio of 0.78. The firm has a market capitalization of $10.71 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.18 and a beta of 0.72.

PVH (NYSE:PVH) last released its quarterly earnings data on Wednesday, August 29th. The textile maker reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. PVH had a net margin of 7.28% and a return on equity of 13.07%. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the company earned $1.69 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. equities analysts anticipate that PVH Corp will post 9.26 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 25th. Stockholders of record on Wednesday, August 29th will be paid a dividend of $0.0375 per share. The ex-dividend date of this dividend is Tuesday, August 28th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. PVH’s dividend payout ratio is currently 1.89%.

PVH Profile

PVH Corp. operates as an apparel company in North America and internationally. The company operates through six segments: Calvin Klein North America, Calvin Klein International, Tommy Hilfiger North America, Tommy Hilfiger International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's and women's apparel and accessories, including branded dress shirts, dresses, suits, neckwear, sportswear, jeans wear, performance and intimate apparel, underwear, swimwear, swim products, handbags, luggage products, footwear, golf apparel, sleepwear and loungewear, eyewear and fragrances, cosmetics, skincare products and toiletries, socks and tights, jewelry, watches, outerwear, small leather goods, and furnishings, as well as other related products.

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Institutional Ownership by Quarter for PVH (NYSE:PVH)

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