Mitsubishi UFJ Trust & Banking Corp grew its position in PVH Corp (NYSE:PVH) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,182 shares of the textile maker’s stock after buying an additional 10,279 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.25% of PVH worth $24,100,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in PVH. Advisors Asset Management Inc. increased its position in shares of PVH by 28.2% in the second quarter. Advisors Asset Management Inc. now owns 927 shares of the textile maker’s stock valued at $106,000 after buying an additional 204 shares in the last quarter. YorkBridge Wealth Partners LLC purchased a new position in shares of PVH in the third quarter valued at $108,000. Fiduciary Trust Co. purchased a new position in shares of PVH in the second quarter valued at $138,000. Rational Advisors LLC purchased a new position in shares of PVH in the second quarter valued at $183,000. Finally, Penserra Capital Management LLC increased its position in shares of PVH by 24.7% in the second quarter. Penserra Capital Management LLC now owns 1,664 shares of the textile maker’s stock valued at $190,000 after buying an additional 330 shares in the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.
A number of analysts recently commented on PVH shares. Cowen set a $150.00 price objective on PVH and gave the stock a “buy” rating in a research report on Monday, November 27th. Piper Jaffray Companies reiterated a “buy” rating and set a $148.00 price objective on shares of PVH in a research report on Wednesday, November 1st. Zacks Investment Research upgraded PVH from a “hold” rating to a “buy” rating and set a $143.00 price objective for the company in a research report on Thursday, September 14th. Telsey Advisory Group lifted their price objective on PVH from $145.00 to $158.00 and gave the stock an “outperform” rating in a research report on Thursday, November 30th. Finally, Barclays set a $156.00 price objective on PVH and gave the stock a “buy” rating in a research report on Saturday, December 2nd. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $145.44.
PVH (NYSE:PVH) last released its quarterly earnings data on Wednesday, November 29th. The textile maker reported $3.02 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.11. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.34 billion. PVH had a return on equity of 11.95% and a net margin of 6.22%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.60 EPS. equities analysts predict that PVH Corp will post 7.8 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Wednesday, November 22nd were paid a $0.038 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was Tuesday, November 21st. PVH’s dividend payout ratio is currently 2.23%.
In other news, SVP James Holmes sold 2,552 shares of PVH stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $135.85, for a total value of $346,689.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Melanie Steiner sold 320 shares of PVH stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $136.99, for a total value of $43,836.80. The disclosure for this sale can be found here. Insiders sold a total of 380,599 shares of company stock worth $50,490,381 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.
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PVH Company Profile
PVH Corp. is an apparel company. The Company operates through three segments: Calvin Klein, which consists of the Calvin Klein North America and Calvin Klein International segments; Tommy Hilfiger, which consists of the Tommy Hilfiger North America and Tommy Hilfiger International segments, and Heritage Brands, which consists of the Heritage Brands Wholesale and Heritage Brands Retail segments.
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