Smith Asset Management Group LP acquired a new stake in PVH Corp. (NYSE:PVH) during the second quarter, according to its most recent filing with the SEC. The firm acquired 225,045 shares of the textile maker’s stock, valued at approximately $25,757,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wilbanks Smith & Thomas Asset Management LLC increased its position in PVH Corp. by 0.4% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,573 shares of the textile maker’s stock valued at $370,000 after buying an additional 14 shares during the last quarter. LS Investment Advisors LLC increased its position in PVH Corp. by 1.3% in 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 during the last quarter. Capstone Asset Management Co. increased 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 valued at $1,025,000 after buying an additional 64 shares during the last quarter. Allen Investment Management LLC increased 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 valued at $355,000 after buying an additional 92 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its stake in shares of PVH Corp. by 0.7% in the second quarter. Xact Kapitalforvaltning AB now owns 13,982 shares of the textile maker’s stock valued at $1,601,000 after buying an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.
PVH Corp. (PVH) opened at 121.63 on Friday. The company has a market cap of $9.47 billion, a price-to-earnings ratio of 25.15 and a beta of 0.51. The company’s 50-day moving average is $116.04 and its 200 day moving average is $102.44. PVH Corp. has a 52-week low of $84.53 and a 52-week high of $126.11.
PVH Corp. (NYSE:PVH) last released its quarterly earnings results on Wednesday, May 24th. The textile maker reported $1.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.05. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. PVH Corp. had a return on equity of 11.57% and a net margin of 4.69%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 EPS. Equities analysts forecast that PVH Corp. will post $7.52 earnings per share for the current fiscal year.
The company also recently declared 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 of this dividend is Tuesday, August 22nd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. PVH Corp.’s dividend payout ratio is currently 3.11%.
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Several analysts have recently commented on PVH shares. Zacks Investment Research upgraded shares of PVH Corp. from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a report on Tuesday, May 16th. J P Morgan Chase & Co upgraded shares of PVH Corp. from a “neutral” rating to an “overweight” rating and increased their target price for the company from $116.00 to $125.00 in a report on Thursday, May 25th. Piper Jaffray Companies set a $120.00 target price on shares of PVH Corp. and gave the company a “buy” rating in a report on Thursday, May 25th. Cowen and Company increased their target price on shares of PVH Corp. from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, May 25th. Finally, UBS AG reiterated a “buy” rating and issued a $120.00 target price (up previously from $116.00) on shares of PVH Corp. in a report on Thursday, May 25th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $126.53.
In other PVH Corp. news, COO Michael A. Shaffer sold 45,525 shares of the business’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $111.37, for a total transaction of $5,070,119.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven B. Shiffman sold 2,200 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $105.82, for a total value of $232,804.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,627 shares of company stock valued at $6,584,743. Corporate insiders own 1.30% of the company’s stock.
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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