Korea Investment CORP decreased its stake in PVH Corp (NYSE:PVH) by 10.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 278,552 shares of the textile maker’s stock after selling 33,000 shares during the quarter. Korea Investment CORP owned approximately 0.36% of PVH worth $41,705,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in shares of PVH by 12.1% during the 1st quarter. Wells Fargo & Company MN now owns 153,570 shares of the textile maker’s stock worth $23,253,000 after purchasing an additional 16,524 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of PVH by 2.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 232,364 shares of the textile maker’s stock worth $35,187,000 after purchasing an additional 5,250 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of PVH by 124.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 24,791 shares of the textile maker’s stock worth $3,671,000 after purchasing an additional 13,767 shares during the last quarter. Mackay Shields LLC acquired a new position in shares of PVH during the 1st quarter worth $1,973,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PVH by 4.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 87,547 shares of the textile maker’s stock worth $13,257,000 after purchasing an additional 3,778 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.
NYSE:PVH opened at $136.43 on Wednesday. PVH Corp has a 1 year low of $120.91 and a 1 year high of $169.22. The company has a current ratio of 1.72, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $11.04 billion, a P/E ratio of 17.18, a PEG ratio of 1.21 and a beta of 0.73.
PVH (NYSE:PVH) last posted its earnings results on Wednesday, August 29th. The textile maker reported $2.18 earnings per share (EPS) 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 business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the business posted $1.69 EPS. PVH’s revenue was up 12.8% compared to the same quarter last year. research analysts forecast that PVH Corp will post 9.26 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 25th. Investors of record on Wednesday, August 29th will be paid a $0.0375 dividend. The ex-dividend date is Tuesday, August 28th. This represents a $0.15 dividend on an annualized basis and a yield of 0.11%. PVH’s payout ratio is presently 1.89%.
PVH has been the topic of several analyst reports. Bank of America set a $180.00 price target on shares of PVH and gave the stock a “buy” rating in a research note on Thursday, August 30th. Goldman Sachs Group initiated coverage on shares of PVH in a research note on Monday, June 25th. They set a “sell” rating and a $150.00 price target on the stock. Zacks Investment Research lowered shares of PVH from a “buy” rating to a “hold” rating in a research note on Monday, May 28th. JPMorgan Chase & Co. increased their price target on shares of PVH from $175.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, May 31st. Finally, Telsey Advisory Group increased their price target on shares of PVH from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday, June 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. PVH presently has a consensus rating of “Buy” and a consensus price target of $171.60.
In related news, EVP Mark D. Fischer sold 3,300 shares of the firm’s stock in a transaction on Friday, June 8th. The shares were sold at an average price of $166.08, for a total value of $548,064.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.
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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