PGGM Investments Has $5,173,000 Stake in PVH Corp. (PVH)
PGGM Investments raised its stake in PVH Corp. (NYSE:PVH) by 4.9% during the second quarter, Holdings Channel reports. The institutional investor owned 54,902 shares of the company’s stock after buying an additional 2,544 shares during the period. PGGM Investments’ holdings in PVH Corp. were worth $5,173,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of PVH. BlackRock Japan Co. Ltd boosted its position in PVH Corp. by 1.7% in the first quarter. BlackRock Japan Co. Ltd now owns 105,185 shares of the company’s stock valued at $10,420,000 after buying an additional 1,749 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of PVH Corp. by 3.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,183,782 shares of the company’s stock worth $216,325,000 after buying an additional 70,499 shares in the last quarter. BlackRock Group LTD boosted its position in shares of PVH Corp. by 2.1% in the first quarter. BlackRock Group LTD now owns 662,406 shares of the company’s stock worth $65,620,000 after buying an additional 13,844 shares in the last quarter. BlackRock Inc. boosted its position in shares of PVH Corp. by 2.0% in the first quarter. BlackRock Inc. now owns 196,856 shares of the company’s stock worth $19,500,000 after buying an additional 3,852 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of PVH Corp. during the first quarter worth approximately $860,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.
PVH Corp. (NYSE:PVH) traded up 3.60% during mid-day trading on Friday, hitting $110.50. The company’s stock had a trading volume of 1,612,707 shares. PVH Corp. has a 12-month low of $64.16 and a 12-month high of $111.93. The firm’s 50-day moving average is $107.59 and its 200-day moving average is $98.13. The company has a market cap of $8.87 billion, a P/E ratio of 13.38 and a beta of 1.13.
PVH Corp. (NYSE:PVH) last announced its quarterly earnings results on Wednesday, August 24th. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.18. PVH Corp. had a net margin of 8.34% and a return on equity of 12.55%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the firm earned $1.37 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts predict that PVH Corp. will post $6.66 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 24th were issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Monday, August 22nd. PVH Corp.’s dividend payout ratio (DPR) is presently 1.82%.
A number of research analysts have recently commented on the company. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $124.00 price target on shares of PVH Corp. in a research report on Thursday, September 8th. Brean Capital reaffirmed a “buy” rating on shares of PVH Corp. in a research report on Thursday, September 22nd. Morgan Stanley reaffirmed a “hold” rating and set a $100.00 price target on shares of PVH Corp. in a research report on Thursday, August 25th. Goldman Sachs Group Inc. dropped their price target on PVH Corp. from $108.82 to $108.00 and set a “neutral” rating on the stock in a research report on Thursday, August 25th. Finally, Zacks Investment Research lowered PVH Corp. from a “buy” rating to a “hold” rating in a research note on Friday, September 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $113.79.
About PVH Corp.
PVH Corp. is an apparel company. The Company’s segments include Calvin Klein North America; Calvin Klein International; Tommy Hilfiger North America; Tommy Hilfiger International; Heritage Brands Wholesale, and Heritage Brands Retail. The Company’s brand portfolio consists of various brand names, including Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Warner’s, Olga and Eagle, which are owned, and Speedo, Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, Sean John, MICHAEL Michael Kors, Michael Kors Collection and Chaps, which are licensed, as well as various other licensed and private label brands.
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