Insider Selling: PVH Corp. (PVH) CEO Sells 25,405 Shares of Stock
PVH Corp. (NYSE:PVH) CEO Francis K. Duane sold 25,405 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $112.00, for a total transaction of $2,845,360.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of PVH Corp. (NYSE:PVH) opened at 114.00 on Friday. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of 13.80 and a beta of 1.07. PVH Corp. has a 12-month low of $64.16 and a 12-month high of $114.42. The company has a 50-day moving average price of $108.59 and a 200 day moving average price of $98.96.
PVH Corp. (NYSE:PVH) last released its quarterly earnings results on Wednesday, August 24th. The company reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.18. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.94 billion. PVH Corp. had a return on equity of 12.55% and a net margin of 8.34%. PVH Corp.’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 earnings per share. Equities research analysts expect that PVH Corp. will post $6.66 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 24th were given a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Monday, August 22nd. PVH Corp.’s dividend payout ratio is currently 1.82%.
PVH has been the topic of several research reports. Buckingham Research boosted their price target on shares of PVH Corp. from $118.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, August 26th. Brean Capital reissued a “buy” rating on shares of PVH Corp. in a research note on Thursday, September 22nd. Piper Jaffray Cos. lifted their price target on PVH Corp. from $109.00 to $124.00 and gave the stock an “overweight” rating in a research note on Thursday, August 25th. Zacks Investment Research cut PVH Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Finally, TheStreet raised PVH Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $113.79.
Several large investors have recently added to or reduced their stakes in PVH. Vanguard Group Inc. raised its stake in PVH Corp. by 2.3% in the second quarter. Vanguard Group Inc. now owns 7,549,368 shares of the company’s stock worth $711,375,000 after buying an additional 172,427 shares in the last quarter. FMR LLC increased its position in PVH Corp. by 3.2% in the second quarter. FMR LLC now owns 4,119,158 shares of the company’s stock worth $388,148,000 after buying an additional 127,944 shares during the last quarter. State Street Corp increased its position in PVH Corp. by 0.7% in the first quarter. State Street Corp now owns 3,252,827 shares of the company’s stock worth $322,231,000 after buying an additional 24,182 shares during the last quarter. JPMorgan Chase & Co. increased its position in PVH Corp. by 2.8% in the second quarter. JPMorgan Chase & Co. now owns 2,718,323 shares of the company’s stock worth $256,148,000 after buying an additional 74,729 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in PVH Corp. by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 2,309,282 shares of the company’s stock worth $217,603,000 after buying an additional 23,847 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors.
About PVH Corp.
PVH Corp. is an apparel company. The Company’s segments include Calvin Klein North America; Calvin Klein International; Tommy Hilfiger North America; Tommy Hilfiger International; Heritage Brands Wholesale, and Heritage Brands Retail. The Company’s brand portfolio consists of various brand names, including Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Warner’s, Olga and Eagle, which are owned, and Speedo, Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, Sean John, MICHAEL Michael Kors, Michael Kors Collection and Chaps, which are licensed, as well as various other licensed and private label brands.
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