PVH Corp (NYSE:PVH) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 2,056,700 shares, a decrease of 19.3% from the July 31st total of 2,547,700 shares. Based on an average daily trading volume, of 1,530,000 shares, the days-to-cover ratio is currently 1.3 days. Approximately 2.8% of the shares of the company are sold short.
In other news, Director Henry Nasella acquired 6,250 shares of the firm’s stock in a transaction 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 filing with the SEC, which is available through this link. Also, CEO Emanuel Chirico acquired 133,155 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was purchased 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. Corporate insiders own 1.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in PVH by 0.4% in the second quarter. Vanguard Group Inc. now owns 8,136,732 shares of the textile maker’s stock valued at $770,060,000 after buying an additional 29,061 shares in the last quarter. FMR LLC boosted 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 in the last quarter. JPMorgan Chase & Co. boosted 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 in the last quarter. Pzena Investment Management LLC boosted 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted 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 in the last quarter. 96.41% of the stock is currently owned by institutional investors and hedge funds.
PVH (NYSE:PVH) last released its earnings results on Wednesday, August 28th. The textile maker reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.21. The company 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 quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.18 EPS. Analysts anticipate that PVH will post 9.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, August 30th will be paid a $0.038 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This is a positive change from PVH’s previous quarterly dividend of $0.04. This represents a $0.15 annualized dividend and a yield of 0.17%. PVH’s dividend payout ratio (DPR) is 1.56%.
A number of research analysts have commented on the company. Cowen decreased their price objective on PVH from $95.00 to $80.00 and set a “market perform” rating on the stock in a report on Thursday, August 29th. Zacks Investment Research raised PVH from a “sell” rating to a “hold” rating and set a $99.00 price objective on the stock in a report on Monday, July 1st. Credit Suisse Group upped their price objective on PVH from $97.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Sanford C. Bernstein raised PVH from a “market perform” rating to an “outperform” rating and set a $98.00 price objective on the stock in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on PVH from $139.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $106.55.
PVH Company 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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