Suntrust Banks Inc. reduced its holdings in shares of PVH Corp (NYSE:PVH) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,309 shares of the textile maker’s stock after selling 318 shares during the quarter. Suntrust Banks Inc.’s holdings in PVH were worth $494,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of PVH by 54.5% in the third quarter. JPMorgan Chase & Co. now owns 6,677,007 shares of the textile maker’s stock valued at $964,158,000 after buying an additional 2,356,377 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of PVH in the third quarter valued at $110,677,000. AQR Capital Management LLC raised its stake in shares of PVH by 84.6% in the third quarter. AQR Capital Management LLC now owns 777,222 shares of the textile maker’s stock valued at $112,231,000 after buying an additional 356,158 shares during the period. Neuberger Berman Group LLC raised its stake in shares of PVH by 26.0% in the third quarter. Neuberger Berman Group LLC now owns 1,164,186 shares of the textile maker’s stock valued at $168,108,000 after buying an additional 240,510 shares during the period. Finally, Tyvor Capital LLC bought a new stake in shares of PVH in the third quarter valued at $28,197,000. Institutional investors and hedge funds own 96.14% of the company’s stock.
In other news, SVP Dana Perlman sold 1,054 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $128.92, for a total value of $135,881.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Francis K. Duane sold 6,171 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $127.27, for a total value of $785,383.17. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.
PVH (NYSE:PVH) last posted its earnings results on Wednesday, March 27th. The textile maker reported $1.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.76 by $0.08. PVH had a return on equity of 13.12% and a net margin of 7.73%. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the business earned $1.58 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. On average, research analysts anticipate that PVH Corp will post 10.44 earnings per share for the current year.
PVH announced that its board has authorized a share repurchase plan on Wednesday, March 27th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the textile maker to buy up to 8.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 28th 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 was Wednesday, February 27th. PVH’s payout ratio is currently 1.56%.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded PVH from a “hold” rating to a “buy” rating and set a $129.00 price target for the company in a research report on Monday, March 4th. Credit Suisse Group lifted their price target on PVH from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Cowen cut PVH from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $142.00 to $119.00 in a research report on Tuesday, January 22nd. Telsey Advisory Group reiterated an “outperform” rating and issued a $145.00 price target (down from $155.00) on shares of PVH in a research report on Friday, January 11th. Finally, ValuEngine cut PVH from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $146.40.
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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, 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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