Assenagon Asset Management S.A. Lowers Holdings in PVH Corp (PVH)

Assenagon Asset Management S.A. lessened its position in shares of PVH Corp (NYSE:PVH) by 90.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,128 shares of the textile maker’s stock after selling 80,258 shares during the period. Assenagon Asset Management S.A.’s holdings in PVH were worth $1,174,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PVH. Fort L.P. bought a new position in PVH during the 2nd quarter worth about $115,000. Opera Trading Capital bought a new position in PVH during the 2nd quarter worth about $120,000. Advisors Asset Management Inc. increased its holdings in PVH by 709.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,681 shares of the textile maker’s stock worth $131,000 after purchasing an additional 4,103 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in PVH during the 2nd quarter worth about $212,000. Finally, Exane Asset Management bought a new position in PVH during the 2nd quarter worth about $224,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Shares of NYSE PVH opened at $121.41 on Friday. The stock has a market capitalization of $9.53 billion, a PE ratio of 15.29, a P/E/G ratio of 1.06 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.72 and a quick ratio of 0.78. PVH Corp has a fifty-two week low of $116.52 and a fifty-two week high of $169.22.

PVH (NYSE:PVH) last announced its quarterly earnings data on Wednesday, August 29th. The textile maker reported $2.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.09 by $0.09. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.29 billion. PVH had a return on equity of 13.07% and a net margin of 7.28%. PVH’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.69 EPS. As a group, sell-side analysts forecast that PVH Corp will post 9.27 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Wednesday, November 28th will be issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, November 27th. PVH’s payout ratio is currently 1.89%.

PVH has been the subject of a number of research reports. Goldman Sachs Group upgraded PVH from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $142.00 to $130.00 in a report on Friday. Telsey Advisory Group restated an “outperform” rating on shares of PVH in a report on Thursday, August 30th. Zacks Investment Research cut PVH from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. ValuEngine cut PVH from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. Finally, Barclays set a $178.00 price objective on PVH and gave the company a “buy” rating in a report on Thursday, October 18th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $169.30.

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PVH 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, eyewear and fragrances, cosmetics, skincare products and toiletries, socks and tights, jewelry, watches, outerwear, small leather goods, and furnishings, as well as other related products.

See Also: What is Liquidity?

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Institutional Ownership by Quarter for PVH (NYSE:PVH)

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