PVH Corp (NYSE:PVH) Short Interest Up 49.8% in June

PVH Corp (NYSE:PVH) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 3,120,700 shares, a growth of 49.8% from the May 30th total of 2,082,600 shares. Based on an average daily trading volume, of 1,280,000 shares, the days-to-cover ratio is presently 2.4 days. Approximately 4.1% of the company’s stock are sold short.

In related news, Director Henry Nasella acquired 1,200 shares of PVH stock in a transaction dated Friday, May 31st. The stock was acquired at an average price of $82.84 per share, for a total transaction of $99,408.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Dana Perlman sold 1,054 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $128.92, for a total transaction of $135,881.68. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in PVH. Valeo Financial Advisors LLC increased its stake in PVH by 2,000.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 315 shares of the textile maker’s stock valued at $30,000 after buying an additional 300 shares during the period. CSat Investment Advisory L.P. boosted its position in shares of PVH by 146.7% during the 4th quarter. CSat Investment Advisory L.P. now owns 375 shares of the textile maker’s stock worth $35,000 after purchasing an additional 223 shares in the last quarter. Ropes Wealth Advisors LLC purchased a new stake in shares of PVH during the 1st quarter worth $40,000. Captrust Financial Advisors boosted its position in shares of PVH by 30.6% during the 4th quarter. Captrust Financial Advisors now owns 1,007 shares of the textile maker’s stock worth $94,000 after purchasing an additional 236 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of PVH by 17.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 817 shares of the textile maker’s stock worth $100,000 after purchasing an additional 123 shares in the last quarter. 94.98% of the stock is currently owned by institutional investors.

A number of brokerages have recently commented on PVH. Royal Bank of Canada set a $125.00 target price on shares of PVH and gave the company a “buy” rating in a report on Friday, May 31st. Wells Fargo & Co reaffirmed a “hold” rating on shares of Canada Goose in a report on Thursday, May 30th. Zacks Investment Research cut shares of First Merchants from a “hold” rating to a “sell” rating in a report on Monday, July 1st. ValuEngine raised shares of USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, DA Davidson cut their target price on shares of PVH to $105.00 and set a “buy” rating on the stock in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $127.84.

PVH traded up $0.77 during trading on Thursday, hitting $88.24. The stock had a trading volume of 1,757,200 shares, compared to its average volume of 1,231,795. The company has a quick ratio of 0.75, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 9.19, a P/E/G ratio of 0.75 and a beta of 1.41. The business has a 50-day moving average of $92.53. PVH has a twelve month low of $82.51 and a twelve month high of $159.84.

PVH (NYSE:PVH) last announced its quarterly earnings data on Wednesday, May 29th. The textile maker reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.02. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.37 billion. PVH had a net margin of 6.69% and a return on equity of 13.03%. PVH’s revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.36 EPS. As a group, analysts predict that PVH will post 10.27 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were paid a $0.0375 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $0.15 annualized dividend and a yield of 0.17%. PVH’s dividend payout ratio is currently 1.56%.

PVH declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 27th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the textile maker to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

About PVH

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, 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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