Worldquant Millennium Quantitative Strategies LLC bought a new position in PVH Corp (NYSE:PVH) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 26,011 shares of the textile maker’s stock, valued at approximately $3,894,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in PVH. Amalgamated Bank grew its position in PVH by 3.5% during the 2nd quarter. Amalgamated Bank now owns 9,862 shares of the textile maker’s stock worth $1,477,000 after acquiring an additional 333 shares during the last quarter. CIBC Asset Management Inc grew its position in PVH by 4.1% during the 2nd quarter. CIBC Asset Management Inc now owns 8,451 shares of the textile maker’s stock worth $1,265,000 after acquiring an additional 333 shares during the last quarter. Raymond James Trust N.A. grew its position in PVH by 22.9% during the 2nd quarter. Raymond James Trust N.A. now owns 2,005 shares of the textile maker’s stock worth $300,000 after acquiring an additional 373 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in PVH by 3.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,242 shares of the textile maker’s stock worth $2,005,000 after acquiring an additional 394 shares during the last quarter. Finally, IFP Advisors Inc grew its position in PVH by 9.0% during the 2nd quarter. IFP Advisors Inc now owns 4,760 shares of the textile maker’s stock worth $713,000 after acquiring an additional 395 shares during the last quarter. Institutional investors and hedge funds own 95.97% of the company’s stock.
Several research firms recently issued reports on PVH. Citigroup raised their price target on PVH from $179.00 to $188.00 and gave the stock a “buy” rating in a research report on Friday, June 15th. UBS Group started coverage on PVH in a research report on Thursday, June 21st. They set a “neutral” rating and a $180.00 price target on the stock. Telsey Advisory Group reiterated an “outperform” rating on shares of PVH in a report on Thursday, August 30th. Piper Jaffray Companies set a $177.00 price objective on PVH and gave the stock a “buy” rating in a report on Thursday, August 30th. Finally, Deutsche Bank increased their price objective on PVH from $171.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $172.85.
PVH (NYSE:PVH) last posted its quarterly earnings data on Wednesday, August 29th. The textile maker reported $2.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.09 by $0.09. PVH had a return on equity of 13.07% and a net margin of 7.28%. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the company earned $1.69 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities research analysts forecast that PVH Corp will post 9.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 25th. Shareholders of record on Wednesday, August 29th were issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, August 28th. PVH’s payout ratio is 1.89%.
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.
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