Sumitomo Mitsui Asset Management Company LTD decreased its stake in PVH Corp. (NYSE:PVH) by 15.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,229 shares of the textile maker’s stock after selling 1,168 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in PVH Corp. were worth $713,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in PVH. UBS Asset Management Americas Inc. raised its stake in PVH Corp. by 10.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 310,676 shares of the textile maker’s stock worth $28,034,000 after buying an additional 29,079 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in shares of PVH Corp. during the fourth quarter valued at about $519,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of PVH Corp. during the fourth quarter valued at about $232,000. Macquarie Group Ltd. raised its stake in shares of 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 in the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its stake in shares of PVH Corp. by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 68,479 shares of the textile maker’s stock valued at $7,086,000 after buying an additional 2,144 shares in the last quarter. 98.12% of the stock is owned by institutional investors and hedge funds.
PVH Corp. (PVH) traded down 1.02% during mid-day trading on Friday, reaching $121.05. 1,128,517 shares of the company’s stock were exchanged. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of 25.03 and a beta of 0.51. The stock has a 50-day moving average of $117.97 and a 200-day moving average of $103.75. PVH Corp. has a 12 month low of $84.53 and a 12 month high of $126.11.
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 issued 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 yield of 0.13%. PVH Corp.’s dividend payout ratio is currently 3.11%.
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PVH has been the topic of several recent research reports. Zacks Investment Research upgraded PVH Corp. from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a report on Tuesday, May 16th. J P Morgan Chase & Co upgraded PVH Corp. from a “neutral” rating to an “overweight” rating and raised 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 price target on PVH Corp. and gave the company a “buy” rating in a research report on Thursday, May 25th. Cowen and Company raised their price target on PVH Corp. from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, May 25th. Finally, UBS AG reissued a “buy” rating and set a $120.00 target price (up from $116.00) on shares of PVH Corp. in a research 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 issued a strong buy rating to the company’s stock. PVH Corp. presently has a consensus rating of “Buy” and a consensus target price of $126.53.
In other PVH Corp. news, EVP Mark D. Fischer sold 1,500 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $115.00, for a total value of $172,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven B. Shiffman sold 2,200 shares of the company’s stock in a transaction 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. Insiders have sold a total of 59,627 shares of company stock valued at $6,584,743 over the last quarter. 1.30% of the stock is currently owned by company insiders.
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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