Ladenburg Thalmann Financial Services Inc. lowered its stake in shares of PVH Corp (NYSE:PVH) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,476 shares of the textile maker’s stock after selling 262 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in PVH were worth $707,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of PVH. Investec Asset Management LTD bought a new position in PVH during the second quarter worth about $101,571,000. Pzena Investment Management LLC boosted its holdings in PVH by 54.3% during the second quarter. Pzena Investment Management LLC now owns 3,001,404 shares of the textile maker’s stock worth $284,053,000 after buying an additional 1,055,649 shares during the last quarter. FMR LLC boosted its holdings in PVH by 13.9% during the first quarter. FMR LLC now owns 7,692,951 shares of the textile maker’s stock worth $938,155,000 after buying an additional 936,855 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in PVH by 75.7% during the second quarter. Bank of New York Mellon Corp now owns 1,455,221 shares of the textile maker’s stock worth $137,721,000 after buying an additional 627,188 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in PVH by 372.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 618,887 shares of the textile maker’s stock worth $75,472,000 after buying an additional 487,939 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.
In other news, CEO Emanuel Chirico bought 133,155 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $74.99 per share, with a total value of $9,985,293.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Henry Nasella bought 6,250 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of $80.37 per share, for a total transaction of $502,312.50. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.
PVH has been the topic of several recent analyst reports. Guggenheim set a $100.00 price objective on PVH and gave the company a “buy” rating in a report on Friday, August 23rd. Zacks Investment Research upgraded 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. Goldman Sachs Group cut their price objective on PVH from $82.00 to $73.00 and set a “sell” rating on the stock in a report on Friday, August 30th. Telsey Advisory Group cut their price objective on PVH from $119.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. Finally, Piper Jaffray Companies lifted their price objective on PVH from $82.00 to $101.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. PVH has an average rating of “Buy” and an average target price of $107.50.
Shares of PVH stock opened at $87.72 on Friday. The business’s 50 day simple moving average is $82.92 and its 200 day simple moving average is $96.96. PVH Corp has a 52-week low of $67.41 and a 52-week high of $134.24. The firm has a market cap of $6.14 billion, a PE ratio of 8.61, a P/E/G ratio of 0.82 and a beta of 1.48. 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 announced its earnings results on Wednesday, August 28th. The textile maker reported $2.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.21. PVH had a return on equity of 12.64% and a net margin of 6.96%. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the firm earned $2.18 EPS. PVH’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts predict that PVH Corp will post 9.4 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, August 30th were given a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date was Thursday, August 29th. This is a positive change from PVH’s previous quarterly dividend of $0.04. PVH’s dividend payout ratio (DPR) is currently 1.56%.
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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