Howard Hughes Medical Institute lowered its position in shares of PVH Corp. (NYSE:PVH) by 17.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,720 shares of the textile maker’s stock after selling 802 shares during the quarter. Howard Hughes Medical Institute’s holdings in PVH Corp. were worth $426,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of PVH. Advisors Asset Management Inc. lifted its holdings in PVH Corp. by 28.2% during the second quarter. Advisors Asset Management Inc. now owns 927 shares of the textile maker’s stock valued at $106,000 after purchasing an additional 204 shares in the last quarter. FNY Partners Fund LP lifted its holdings in PVH Corp. by 53.3% during the first quarter. FNY Partners Fund LP now owns 1,150 shares of the textile maker’s stock valued at $118,000 after purchasing an additional 400 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in PVH Corp. by 9.5% during the first quarter. Penserra Capital Management LLC now owns 1,334 shares of the textile maker’s stock valued at $138,000 after purchasing an additional 116 shares in the last quarter. Fiduciary Trust Co. purchased a new position in PVH Corp. during the second quarter valued at approximately $138,000. Finally, NINE MASTS CAPITAL Ltd purchased a new position in PVH Corp. during the first quarter valued at approximately $155,000. 95.24% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have weighed in on the stock. UBS AG reaffirmed a “buy” rating and set a $120.00 price target (up previously from $116.00) on shares of PVH Corp. in a report on Thursday, May 25th. Sanford C. Bernstein assumed coverage on shares of PVH Corp. in a report on Tuesday, September 12th. They set a “market perform” rating and a $142.00 price target on the stock. BidaskClub raised shares of PVH Corp. from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 10th. Cowen and Company set a $140.00 price target on shares of PVH Corp. and gave the company a “buy” rating in a report on Friday, August 11th. Finally, Zacks Investment Research raised shares of PVH Corp. from a “hold” rating to a “buy” rating and set a $143.00 price target on the stock in a report on Thursday. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $137.81.
In other PVH Corp. news, CEO Francis K. Duane sold 24,000 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $126.86, for a total value of $3,044,640.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Dana Perlman sold 769 shares of the firm’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $114.77, for a total value of $88,258.13. The disclosure for this sale can be found here. Insiders sold a total of 87,750 shares of company stock worth $10,368,221 in the last 90 days. 1.30% of the stock is currently owned by insiders.
Shares of PVH Corp. (NYSE:PVH) traded up 1.32% during midday trading on Friday, reaching $128.10. 1,187,402 shares of the company traded hands. The stock has a 50 day moving average price of $124.40 and a 200 day moving average price of $108.71. PVH Corp. has a 1-year low of $84.53 and a 1-year high of $130.75. The firm has a market capitalization of $9.92 billion, a PE ratio of 24.43 and a beta of 0.46.
PVH Corp. (NYSE:PVH) last announced its quarterly earnings data on Wednesday, August 23rd. The textile maker reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. PVH Corp. had a return on equity of 11.67% and a net margin of 4.96%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.47 EPS. Analysts expect that PVH Corp. will post $7.71 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Thursday, August 24th will be issued a $0.038 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. PVH Corp.’s payout ratio is currently 2.87%.
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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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