Rhumbline Advisers increased its stake in shares of PVH Corp. (NYSE:PVH – Get Rating) by 9.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,791 shares of the textile maker’s stock after acquiring an additional 11,555 shares during the quarter. Rhumbline Advisers’ holdings in PVH were worth $7,840,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Sentry Investment Management LLC boosted its stake in PVH by 2,820.0% during the first quarter. Sentry Investment Management LLC now owns 584 shares of the textile maker’s stock worth $45,000 after acquiring an additional 564 shares in the last quarter. Covestor Ltd raised its holdings in PVH by 69.3% during the first quarter. Covestor Ltd now owns 596 shares of the textile maker’s stock worth $46,000 after buying an additional 244 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in PVH during the second quarter worth $38,000. Prospera Financial Services Inc acquired a new position in PVH during the first quarter worth $90,000. Finally, Captrust Financial Advisors raised its holdings in PVH by 38.3% during the first quarter. Captrust Financial Advisors now owns 1,535 shares of the textile maker’s stock worth $118,000 after buying an additional 425 shares during the last quarter. 95.82% of the stock is owned by institutional investors.
PVH Price Performance
PVH opened at $72.93 on Friday. The firm has a market cap of $4.76 billion, a P/E ratio of 11.56, a PEG ratio of 0.89 and a beta of 2.09. The firm has a 50-day moving average of $53.97 and a 200 day moving average of $59.23. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.35. PVH Corp. has a fifty-two week low of $43.49 and a fifty-two week high of $113.78.
PVH (NYSE:PVH – Get Rating) last issued its earnings results on Tuesday, August 30th. The textile maker reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.07. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.21 billion. PVH had a net margin of 5.05% and a return on equity of 12.23%. The company’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the business earned $2.72 earnings per share. On average, research analysts expect that PVH Corp. will post 7.92 EPS for the current year.
PVH Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 21st. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.0375 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.15 dividend on an annualized basis and a yield of 0.21%. PVH’s dividend payout ratio is presently 2.38%.
Analyst Ratings Changes
Several research firms have weighed in on PVH. BMO Capital Markets lowered their price objective on shares of PVH from $88.00 to $79.00 and set a “market perform” rating on the stock in a report on Wednesday, August 31st. Credit Suisse Group upped their price objective on shares of PVH from $85.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday. Telsey Advisory Group upped their price objective on shares of PVH from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday. Wedbush upped their price objective on shares of PVH to $77.00 in a report on Friday. Finally, Cowen lowered their price objective on shares of PVH to $70.00 in a report on Tuesday, September 6th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, PVH currently has a consensus rating of “Hold” and an average target price of $80.35.
PVH Profile
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PVH Corp. operates as an apparel company worldwide. The company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men’s, women’s, and children’s apparel and accessories, including branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, swimwear, swim-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage products, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, home bed and bath furnishings, small leather goods, and other products.
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