Dynamic Capital Management Ltd purchased a new stake in shares of PVH Corp (NYSE:PVH) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,200 shares of the textile maker’s stock, valued at approximately $1,122,000. PVH accounts for about 4.1% of Dynamic Capital Management Ltd’s investment portfolio, making the stock its 6th biggest position.
Several other hedge funds have also recently modified their holdings of the company. Pzena Investment Management LLC acquired a new position in shares of PVH in the 1st quarter worth $237,285,000. Norges Bank acquired a new position in shares of PVH in the 4th quarter worth $76,331,000. Deutsche Bank AG grew its holdings in shares of PVH by 175.6% in the 4th quarter. Deutsche Bank AG now owns 836,414 shares of the textile maker’s stock worth $77,739,000 after acquiring an additional 532,927 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of PVH by 372.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 618,887 shares of the textile maker’s stock worth $75,472,000 after acquiring an additional 487,939 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of PVH by 6.0% in the 4th quarter. FMR LLC now owns 6,756,096 shares of the textile maker’s stock worth $627,978,000 after acquiring an additional 384,943 shares during the last quarter. Institutional investors own 94.96% of the company’s stock.
A number of brokerages recently issued reports on PVH. Zacks Investment Research cut PVH from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Piper Jaffray Companies lifted their target price on PVH from $140.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Wells Fargo & Co set a $140.00 target price on PVH and gave the stock an “outperform” rating in a report on Thursday, March 28th. Morgan Stanley began coverage on PVH in a report on Tuesday, April 9th. They issued an “overweight” rating and a $164.00 target price on the stock. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $155.00 target price (up from $145.00) on shares of PVH in a report on Friday, March 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. PVH has an average rating of “Buy” and an average target price of $129.42.
In other news, CEO Francis K. Duane sold 6,171 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $127.27, for a total value of $785,383.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dana Perlman sold 1,054 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $128.92, for a total value of $135,881.68. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
Shares of PVH stock opened at $87.30 on Thursday. The firm has a market capitalization of $6.64 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 0.72 and a beta of 1.37. The company has a quick ratio of 0.75, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. PVH Corp has a 12 month low of $82.51 and a 12 month high of $166.41.
PVH (NYSE:PVH) last issued its earnings results on Wednesday, May 29th. The textile maker reported $2.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.02. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.37 billion. PVH had a return on equity of 13.03% and a net margin of 6.69%. PVH’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.36 earnings per share. As a group, analysts predict that PVH Corp will post 10.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be given a $0.0375 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $0.15 annualized dividend and a dividend yield of 0.17%. PVH’s dividend payout ratio (DPR) is presently 1.56%.
PVH announced that its board has initiated a share repurchase plan on Wednesday, March 27th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the textile maker to reacquire up to 8.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
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, fragrances, cosmetics, skincare products and toiletries, socks and tights, jewelry, watches, outerwear, small leather goods, and furnishings, as well as other related products.
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