California State Teachers Retirement System lessened its position in shares of PVH Corp. (NYSE:PVH) by 10.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 147,950 shares of the textile maker’s stock after selling 17,686 shares during the quarter. California State Teachers Retirement System owned 0.19% of PVH Corp. worth $16,940,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. LS Investment Advisors LLC boosted its position in PVH Corp. by 1.3% during the second quarter. LS Investment Advisors LLC now owns 3,904 shares of the textile maker’s stock worth $447,000 after purchasing an additional 52 shares in the last quarter. First Allied Advisory Services Inc. boosted its position in PVH Corp. by 2.7% during the second quarter. First Allied Advisory Services Inc. now owns 2,202 shares of the textile maker’s stock worth $249,000 after purchasing an additional 57 shares in the last quarter. Capstone Asset Management Co. boosted its position in PVH Corp. by 0.7% during the second quarter. Capstone Asset Management Co. now owns 8,949 shares of the textile maker’s stock worth $1,025,000 after purchasing an additional 64 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position in PVH Corp. by 0.7% during the second quarter. Xact Kapitalforvaltning AB now owns 13,982 shares of the textile maker’s stock worth $1,601,000 after purchasing an additional 95 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its position in PVH Corp. by 4.0% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,677 shares of the textile maker’s stock worth $307,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.
A number of equities analysts have issued reports on the company. Cowen and Company set a $140.00 price target on PVH Corp. and gave the stock a “buy” rating in a research report on Friday, August 11th. BidaskClub raised PVH Corp. from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 10th. Piper Jaffray Companies reissued a “buy” rating and set a $148.00 target price on shares of PVH Corp. in a report on Sunday, October 1st. Bank of America Corporation assumed coverage on PVH Corp. in a report on Thursday, August 3rd. They set a “buy” rating and a $146.00 target price for the company. Finally, UBS AG reissued a “buy” rating and set a $140.00 target price (up previously from $128.00) on shares of PVH Corp. in a report on Thursday, August 24th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $138.71.
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Shares of PVH Corp. (NYSE PVH) traded down 0.94% during midday trading on Friday, reaching $127.83. The company’s stock had a trading volume of 120,495 shares. The stock has a 50 day moving average of $126.89 and a 200-day moving average of $114.95. The company has a market capitalization of $9.90 billion, a P/E ratio of 24.38 and a beta of 0.46. PVH Corp. has a 1-year low of $84.53 and a 1-year high of $133.24.
PVH Corp. (NYSE:PVH) last posted its quarterly earnings results on Wednesday, August 23rd. The textile maker reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.04. PVH Corp. had a net margin of 4.96% and a return on equity of 11.67%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the firm posted $1.47 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts anticipate that PVH Corp. will post $7.72 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, November 22nd 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, November 21st. PVH Corp.’s dividend payout ratio (DPR) is currently 2.87%.
In other news, CEO Francis K. Duane sold 24,000 shares of the stock in a transaction dated Friday, August 25th. The shares were 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 can be accessed through this hyperlink. Also, EVP Mark D. Fischer sold 5,589 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $128.47, for a total transaction of $718,018.83. The disclosure for this sale can be found here. Insiders have sold 39,307 shares of company stock worth $4,980,787 over the last ninety days. Insiders own 1.30% of the company’s stock.
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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