Mirae Asset Global Investments Co. Ltd. acquired a new position in PVH Corp (NYSE:PVH) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 7,741 shares of the textile maker’s stock, valued at approximately $1,117,000.
A number of other hedge funds also recently bought and sold shares of PVH. JPMorgan Chase & Co. raised its position in PVH by 54.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,677,007 shares of the textile maker’s stock worth $964,158,000 after purchasing an additional 2,356,377 shares during the last quarter. Third Point LLC bought a new position in PVH in the 2nd quarter worth approximately $93,575,000. FMR LLC raised its position in PVH by 9.1% in the 2nd quarter. FMR LLC now owns 6,874,778 shares of the textile maker’s stock worth $1,029,292,000 after purchasing an additional 575,989 shares during the last quarter. Millennium Management LLC raised its position in PVH by 118.4% in the 2nd quarter. Millennium Management LLC now owns 936,344 shares of the textile maker’s stock worth $140,189,000 after purchasing an additional 507,641 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of PVH by 67.4% during the 2nd quarter. Janus Henderson Group PLC now owns 905,694 shares of the textile maker’s stock valued at $135,601,000 after acquiring an additional 364,759 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.
Several analysts have commented on PVH shares. Zacks Investment Research cut shares of PVH from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. Deutsche Bank upped their target price on shares of PVH from $171.00 to $173.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. Piper Jaffray Companies set a $177.00 target price on shares of PVH and gave the company a “buy” rating in a research report on Thursday, August 30th. Telsey Advisory Group reiterated an “outperform” rating on shares of PVH in a research report on Thursday, August 30th. Finally, Bank of America set a $180.00 target price on shares of PVH and gave the company a “buy” rating in a research report on Thursday, August 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $154.10.
PVH (NYSE:PVH) last announced its quarterly earnings results on Thursday, November 29th. The textile maker reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.14 by $0.07. PVH had a net margin of 7.20% and a return on equity of 13.00%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the business earned $3.02 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. Equities analysts expect that PVH Corp will post 9.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Wednesday, November 28th will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Tuesday, November 27th. PVH’s dividend payout ratio (DPR) is 1.89%.
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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: Price to Earnings Ratio (PE), For Valuing Stocks
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