Oppenheimer Asset Management Inc. acquired a new stake in PVH Corp. (NYSE:PVH) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,039 shares of the textile maker’s stock, valued at approximately $315,000.
Several other institutional investors have also bought and sold shares of PVH. BlackRock Inc. boosted its position in PVH Corp. by 3,001.8% in the first quarter. BlackRock Inc. now owns 5,090,455 shares of the textile maker’s stock valued at $526,711,000 after buying an additional 4,926,341 shares in the last quarter. Norges Bank acquired a new position in PVH Corp. during the fourth quarter valued at $78,638,000. Ameriprise Financial Inc. boosted its position in PVH Corp. by 17.1% in the first quarter. Ameriprise Financial Inc. now owns 2,692,857 shares of the textile maker’s stock valued at $278,637,000 after buying an additional 393,500 shares in the last quarter. Credit Agricole S A boosted its position in PVH Corp. by 104.7% in the first quarter. Credit Agricole S A now owns 763,289 shares of the textile maker’s stock valued at $78,977,000 after buying an additional 390,419 shares in the last quarter. Finally, Highbridge Capital Management LLC boosted its position in PVH Corp. by 112,735.7% in the fourth quarter. Highbridge Capital Management LLC now owns 337,907 shares of the textile maker’s stock valued at $30,492,000 after buying an additional 338,207 shares in the last quarter. 96.45% of the stock is owned by institutional investors and hedge funds.
PVH Corp. (NYSE:PVH) opened at 112.17 on Monday. The stock has a 50 day moving average price of $105.06 and a 200-day moving average price of $97.56. The firm has a market cap of $8.73 billion, a P/E ratio of 23.19 and a beta of 0.51. PVH Corp. has a 1-year low of $84.53 and a 1-year high of $115.86.
PVH Corp. (NYSE:PVH) last released its earnings results on Wednesday, May 24th. The textile maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.05. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.96 billion. PVH Corp. had a net margin of 4.69% and a return on equity of 11.57%. PVH Corp.’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.50 earnings per share. Equities research analysts forecast that PVH Corp. will post $7.50 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Thursday, May 18th were issued a $0.038 dividend. The ex-dividend date of this dividend was Tuesday, May 16th. This represents a $0.15 annualized dividend and a yield of 0.14%. PVH Corp.’s payout ratio is 3.11%.
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PVH has been the subject of several research analyst reports. Wunderlich reissued a “buy” rating and set a $125.00 price objective on shares of PVH Corp. in a research report on Saturday, March 25th. Wells Fargo & Company reissued an “outperform” rating and set a $126.00 price objective on shares of PVH Corp. in a research report on Thursday, March 23rd. Credit Suisse Group cut their price objective on PVH Corp. to $114.00 in a research report on Thursday, March 23rd. Cowen and Company upped their price target on PVH Corp. from $108.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, March 23rd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $112.00 price target on shares of PVH Corp. in a report on Thursday, March 23rd. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. PVH Corp. has a consensus rating of “Buy” and an average target price of $122.06.
In related news, CEO Francis K. Duane sold 2,497 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $105.99, for a total value of $264,657.03. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark D. Fischer sold 1,500 shares of the business’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $115.00, for a total transaction of $172,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,102 shares of company stock worth $1,514,624. 1.30% of the stock is owned by company insiders.
PVH Corp. 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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