Royal London Asset Management Ltd. Sells 1,032 Shares of PVH Corp (PVH)

Royal London Asset Management Ltd. cut its holdings in shares of PVH Corp (NYSE:PVH) by 3.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,734 shares of the textile maker’s stock after selling 1,032 shares during the period. Royal London Asset Management Ltd.’s holdings in PVH were worth $4,438,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Martingale Asset Management L P boosted its stake in shares of PVH by 225.2% during the second quarter. Martingale Asset Management L P now owns 8,811 shares of the textile maker’s stock valued at $1,320,000 after purchasing an additional 6,102 shares in the last quarter. Millennium Management LLC boosted its stake in PVH by 118.4% in the second quarter. Millennium Management LLC now owns 936,344 shares of the textile maker’s stock valued at $140,189,000 after acquiring an additional 507,641 shares in the last quarter. California Public Employees Retirement System boosted its stake in PVH by 4.1% in the second quarter. California Public Employees Retirement System now owns 195,194 shares of the textile maker’s stock valued at $29,224,000 after acquiring an additional 7,714 shares in the last quarter. Globeflex Capital L P boosted its stake in PVH by 28.7% in the second quarter. Globeflex Capital L P now owns 6,663 shares of the textile maker’s stock valued at $998,000 after acquiring an additional 1,484 shares in the last quarter. Finally, Exane Asset Management acquired a new stake in PVH in the second quarter valued at approximately $224,000. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Several brokerages have weighed in on PVH. Zacks Investment Research restated a “hold” rating on shares of PVH in a research note on Wednesday, November 14th. Piper Jaffray Companies lowered their target price on shares of PVH from $177.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday. Deutsche Bank raised their target price on shares of PVH from $171.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, August 30th. DA Davidson began coverage on shares of PVH in a research note on Tuesday, September 25th. They issued a “buy” rating and a $167.00 target price for the company. Finally, Goldman Sachs Group upgraded shares of PVH from a “sell” rating to a “neutral” rating and lowered their target price for the company from $142.00 to $130.00 in a research note on Friday, November 9th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $167.45.

NYSE PVH opened at $110.12 on Friday. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 0.94 and a beta of 0.92. PVH Corp has a 12-month low of $106.63 and a 12-month high of $169.22. 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 (NYSE:PVH) last posted its quarterly earnings results on Wednesday, August 29th. The textile maker reported $2.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.09 by $0.09. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.29 billion. PVH had a net margin of 7.28% and a return on equity of 13.07%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company posted $1.69 earnings per share. As a group, equities analysts anticipate that PVH Corp will post 9.27 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Wednesday, November 28th will be issued a $0.0375 dividend. The ex-dividend date is Tuesday, November 27th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. PVH’s dividend payout ratio is currently 1.89%.

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PVH Company 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.

Further Reading: Why do companies engage in swaps?

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Institutional Ownership by Quarter for PVH (NYSE:PVH)

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