Cramer Rosenthal Mcglynn LLC Decreases Stock Position in PVH Corp (NYSE:PVH)

Cramer Rosenthal Mcglynn LLC cut its holdings in PVH Corp (NYSE:PVH) by 27.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 595,902 shares of the textile maker’s stock after selling 230,972 shares during the quarter. PVH comprises 1.5% of Cramer Rosenthal Mcglynn LLC’s holdings, making the stock its 18th largest position. Cramer Rosenthal Mcglynn LLC owned 0.80% of PVH worth $56,396,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC raised its stake in PVH by 13.9% in the first quarter. FMR LLC now owns 7,692,951 shares of the textile maker’s stock valued at $938,155,000 after buying an additional 936,855 shares during the last quarter. JPMorgan Chase & Co. raised its stake in PVH by 7.2% in the second quarter. JPMorgan Chase & Co. now owns 5,681,044 shares of the textile maker’s stock valued at $529,929,000 after buying an additional 383,485 shares during the last quarter. Pzena Investment Management LLC raised its stake in PVH by 54.3% in the second quarter. Pzena Investment Management LLC now owns 3,001,404 shares of the textile maker’s stock valued at $284,053,000 after buying an additional 1,055,649 shares during the last quarter. Bank of New York Mellon Corp raised its stake in PVH by 75.7% in the second quarter. Bank of New York Mellon Corp now owns 1,455,221 shares of the textile maker’s stock valued at $137,721,000 after buying an additional 627,188 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in PVH by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 1,207,475 shares of the textile maker’s stock valued at $112,075,000 after buying an additional 44,504 shares during the last quarter. Institutional investors own 96.41% of the company’s stock.

A number of equities research analysts have commented on PVH shares. Goldman Sachs Group decreased their price target on PVH from $82.00 to $73.00 and set a “sell” rating for the company in a research note on Friday, August 30th. ValuEngine lowered PVH from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 29th. UBS Group set a $117.00 price objective on PVH and gave the company a “buy” rating in a report on Friday, August 30th. Royal Bank of Canada set a $95.00 price objective on PVH and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, DA Davidson cut their price objective on PVH to $105.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. PVH presently has a consensus rating of “Buy” and an average price target of $106.55.

In related news, Director Henry Nasella bought 6,250 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $80.37 per share, with a total value of $502,312.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Emanuel Chirico bought 133,155 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $74.99 per share, for a total transaction of $9,985,293.45. The disclosure for this purchase can be found here. 1.20% of the stock is owned by company insiders.

PVH stock traded up $0.64 during midday trading on Friday, hitting $91.03. 114,652 shares of the company were exchanged, compared to its average volume of 1,761,730. The firm has a market capitalization of $6.80 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 0.92 and a beta of 1.43. PVH Corp has a fifty-two week low of $67.41 and a fifty-two week high of $145.25. The business has a fifty day simple moving average of $78.44 and a two-hundred day simple moving average of $100.66. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 1.40.

PVH (NYSE:PVH) last posted its earnings results on Wednesday, August 28th. The textile maker reported $2.10 EPS for the quarter, topping the consensus estimate of $1.89 by $0.21. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.33 billion. PVH had a return on equity of 12.64% and a net margin of 6.96%. PVH’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $2.18 earnings per share. As a group, equities analysts expect that PVH Corp will post 9.4 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, August 30th will be issued a dividend of $0.038 per share. This represents a $0.15 annualized dividend and a yield of 0.17%. This is a positive change from PVH’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, August 29th. PVH’s dividend payout ratio (DPR) is 1.56%.

PVH Profile

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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Institutional Ownership by Quarter for PVH (NYSE:PVH)

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