PVH Corp. (PVH) Shares Bought by CIBC Asset Management Inc
CIBC Asset Management Inc increased its stake in shares of PVH Corp. (NYSE:PVH) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,994 shares of the textile maker’s stock after buying an additional 8 shares during the period. CIBC Asset Management Inc’s holdings in PVH Corp. were worth $1,030,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Strs Ohio increased its position in PVH Corp. by 9.5% in the first quarter. Strs Ohio now owns 23,622 shares of the textile maker’s stock valued at $2,444,000 after buying an additional 2,046 shares in the last quarter. Janney Montgomery Scott LLC increased its position in PVH Corp. by 27.0% in the first quarter. Janney Montgomery Scott LLC now owns 6,406 shares of the textile maker’s stock valued at $663,000 after buying an additional 1,361 shares in the last quarter. Clear Harbor Asset Management LLC bought a new position in PVH Corp. during the first quarter valued at about $442,000. Glen Harbor Capital Management LLC increased its position in PVH Corp. by 515.5% in the first quarter. Glen Harbor Capital Management LLC now owns 54,628 shares of the textile maker’s stock valued at $5,652,000 after buying an additional 45,752 shares in the last quarter. Finally, Howard Hughes Medical Institute increased its position in PVH Corp. by 23.9% in the first quarter. Howard Hughes Medical Institute now owns 4,522 shares of the textile maker’s stock valued at $468,000 after buying an additional 872 shares in the last quarter. Institutional investors own 97.42% of the company’s stock.
PVH Corp. (NYSE PVH) opened at 123.88 on Friday. The stock has a market capitalization of $9.64 billion, a PE ratio of 25.61 and a beta of 0.51. PVH Corp. has a one year low of $84.53 and a one year high of $126.11. The firm has a 50-day moving average of $116.46 and a 200-day moving average of $102.67.
PVH Corp. (NYSE:PVH) last posted its earnings results on Wednesday, May 24th. The textile maker reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.05. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. PVH Corp. had a net margin of 4.69% and a return on equity of 11.57%. PVH Corp.’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.50 EPS. On average, equities research analysts forecast that PVH Corp. will post $7.52 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Thursday, August 24th will be paid a dividend of $0.038 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Tuesday, August 22nd. PVH Corp.’s payout ratio is 3.11%.
Several brokerages have recently weighed in on PVH. BidaskClub upgraded shares of PVH Corp. from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Piper Jaffray Companies set a $143.00 target price on shares of PVH Corp. and gave the stock a “buy” rating in a research note on Monday, August 7th. Cowen and Company set a $140.00 target price on shares of PVH Corp. and gave the stock a “buy” rating in a research note on Friday. Bank of America Corporation began coverage on shares of PVH Corp. in a research note on Thursday, August 3rd. They set a “buy” rating and a $146.00 target price for the company. Finally, Buckingham Research reiterated a “buy” rating and set a $127.00 target price on shares of PVH Corp. in a research note on Monday, July 17th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. PVH Corp. has an average rating of “Buy” and a consensus price target of $126.53.
In other PVH Corp. news, EVP Mark D. Fischer sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $115.00, for a total transaction of $172,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael A. Shaffer sold 45,525 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were 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. Insiders have sold a total of 59,627 shares of company stock valued at $6,584,743 over the last three months. 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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