Victory Capital Management Inc. grew its stake in shares of PVH Corp (NYSE:PVH) by 173.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 581,070 shares of the textile maker’s stock after purchasing an additional 368,516 shares during the quarter. Victory Capital Management Inc. owned about 0.78% of PVH worth $54,992,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. Kings Point Capital Management acquired a new position in shares of PVH during the 2nd quarter worth approximately $387,000. CSat Investment Advisory L.P. increased its position in shares of PVH by 111.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 663 shares of the textile maker’s stock worth $62,000 after purchasing an additional 350 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of PVH during the 2nd quarter worth approximately $15,294,000. Morgan Stanley increased its position in shares of PVH by 21.3% during the 2nd quarter. Morgan Stanley now owns 77,718 shares of the textile maker’s stock worth $7,354,000 after purchasing an additional 13,635 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of PVH by 7.4% during the 2nd quarter. AQR Capital Management LLC now owns 621,428 shares of the textile maker’s stock worth $58,532,000 after purchasing an additional 42,802 shares during the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on PVH. TheStreet lowered PVH from a “b” rating to a “c+” rating in a report on Wednesday, May 29th. Morgan Stanley decreased their target price on PVH from $151.00 to $148.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. Guggenheim set a $100.00 target price on PVH and gave the stock a “buy” rating in a report on Friday, August 23rd. Deutsche Bank decreased their target price on PVH from $178.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Finally, Zacks Investment Research raised PVH from a “sell” rating to a “hold” rating and set a $99.00 target price on the stock in a report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $107.50.
PVH (NYSE:PVH) last released its quarterly earnings results on Wednesday, August 28th. The textile maker reported $2.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.21. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.33 billion. PVH had a return on equity of 12.64% and a net margin of 6.96%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.18 EPS. As a group, sell-side analysts predict that PVH Corp will post 9.4 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, August 30th will be given a dividend of $0.038 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.17%. This is an increase from PVH’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Thursday, August 29th. PVH’s dividend payout ratio is presently 1.56%.
In related news, CEO Emanuel Chirico bought 133,155 shares of the business’s stock in a transaction dated 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Henry Nasella bought 6,250 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average price of $80.37 per share, with a total value of $502,312.50. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.
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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