Public Employees Retirement Association of Colorado Reduces Position in PVH Corp. (PVH)
Public Employees Retirement Association of Colorado cut its position in shares of PVH Corp. (NYSE:PVH) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,636 shares of the textile maker’s stock after selling 118 shares during the period. Public Employees Retirement Association of Colorado’s holdings in PVH Corp. were worth $1,905,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in PVH. FNY Partners Fund LP increased its stake in shares of PVH Corp. by 53.3% in the first quarter. FNY Partners Fund LP now owns 1,150 shares of the textile maker’s stock worth $118,000 after buying an additional 400 shares in the last quarter. Penserra Capital Management LLC increased its stake in shares of PVH Corp. by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,334 shares of the textile maker’s stock worth $138,000 after buying an additional 116 shares in the last quarter. NINE MASTS CAPITAL Ltd bought a new stake in shares of PVH Corp. during the first quarter worth about $155,000. Financial Architects Inc increased its stake in shares of PVH Corp. by 261.6% in the first quarter. Financial Architects Inc now owns 1,602 shares of the textile maker’s stock worth $166,000 after buying an additional 1,159 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of PVH Corp. during the first quarter worth about $198,000. Institutional investors own 97.42% of the company’s stock.
PVH Corp. (PVH) opened at 121.63 on Friday. The company’s 50 day moving average is $116.04 and its 200-day moving average is $102.44. The stock has a market capitalization of $9.47 billion, a PE 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.
PVH Corp. (NYSE:PVH) last released its quarterly earnings data on Wednesday, May 24th. The textile maker reported $1.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the business earned $1.50 earnings per share. PVH Corp.’s revenue was up 3.7% compared to the same quarter last year. Analysts forecast that PVH Corp. will post $7.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Thursday, August 24th will be given a dividend of $0.038 per share. This represents a $0.15 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, August 22nd. PVH Corp.’s payout ratio is currently 3.11%.
A number of brokerages have issued reports on PVH. UBS Group AG reiterated a “buy” rating and issued a $120.00 price target (up from $116.00) on shares of PVH Corp. in a report on Thursday, May 25th. BidaskClub upgraded shares of PVH Corp. from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Bank of America Corporation began coverage on shares of PVH Corp. in a report on Thursday, August 3rd. They issued a “buy” rating and a $146.00 price target on the stock. Piper Jaffray Companies set a $143.00 price target on shares of PVH Corp. and gave the company a “buy” rating in a report on Monday. Finally, B. Riley reiterated a “buy” rating and issued a $128.00 price target on shares of PVH Corp. in a report on Tuesday, May 30th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $125.47.
In related news, CEO Francis K. Duane sold 2,497 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $105.99, for a total transaction of $264,657.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael A. Shaffer sold 45,525 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $111.37, for a total transaction of $5,070,119.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,627 shares of company stock valued at $6,584,743. 1.30% of the stock is 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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