TD Asset Management Inc. reduced its position in PVH Corp. (NYSE:PVH) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,047 shares of the textile maker’s stock after selling 7,528 shares during the period. TD Asset Management Inc. owned approximately 0.36% of PVH Corp. worth $32,523,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of PVH. Wilbanks Smith & Thomas Asset Management LLC raised its stake 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 worth $370,000 after buying an additional 14 shares during the period. LS Investment Advisors LLC raised its stake 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 worth $447,000 after buying an additional 52 shares during the period. Capstone Asset Management Co. raised its stake 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 buying an additional 64 shares during the period. Allen Investment Management LLC raised its stake 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 buying an additional 92 shares during the period. Finally, Xact Kapitalforvaltning AB raised its stake 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 buying an additional 95 shares during the period. 97.42% of the stock is currently owned by institutional investors.
PVH Corp. (NYSE PVH) opened at 121.63 on Friday. The company has a market capitalization of $9.47 billion, a P/E ratio of 25.15 and a beta of 0.51. PVH Corp. has a 1-year low of $84.53 and a 1-year high of $126.11. The stock’s 50 day moving average is $116.04 and its 200-day moving average is $102.44.
PVH Corp. (NYSE:PVH) last announced its earnings results on Wednesday, May 24th. The textile maker reported $1.65 earnings per share 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 firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the firm earned $1.50 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts expect that PVH Corp. will post $7.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Thursday, August 24th will be paid a dividend of $0.038 per share. This represents a $0.15 annualized dividend and a yield of 0.12%. The ex-dividend date is Tuesday, August 22nd. PVH Corp.’s payout ratio is currently 3.11%.
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A number of analysts recently weighed in on the stock. B. Riley reissued a “buy” rating and issued a $128.00 price objective on shares of PVH Corp. in a research report on Sunday, June 4th. UBS AG reissued a “buy” rating and issued a $120.00 price objective (up from $116.00) on shares of PVH Corp. in a research report on Thursday, May 25th. Zacks Investment Research lowered shares of PVH Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Piper Jaffray Companies set a $143.00 price objective on shares of PVH Corp. and gave the stock a “buy” rating in a research report on Monday. Finally, BidaskClub raised shares of PVH Corp. from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $125.47.
In related news, CEO Francis K. Duane sold 2,497 shares of the company’s stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steven B. Shiffman sold 2,200 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $105.82, for a total transaction of $232,804.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,627 shares of company stock worth $6,584,743. 1.30% of the stock is owned by 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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