APG Asset Management N.V. reduced its stake in PVH Corp (NYSE:PVH) by 8.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,087 shares of the textile maker’s stock after selling 11,300 shares during the period. APG Asset Management N.V. owned approximately 0.16% of PVH worth $10,008,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc grew its position in PVH by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 7,930,508 shares of the textile maker’s stock worth $1,145,165,000 after acquiring an additional 88,970 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in PVH by 54.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,677,007 shares of the textile maker’s stock worth $964,158,000 after buying an additional 2,356,377 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in PVH by 18.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,212,907 shares of the textile maker’s stock worth $112,740,000 after buying an additional 187,346 shares in the last quarter. Geode Capital Management LLC lifted its holdings in PVH by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 1,207,475 shares of the textile maker’s stock worth $112,075,000 after buying an additional 44,504 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in PVH by 26.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,164,186 shares of the textile maker’s stock worth $168,108,000 after buying an additional 240,510 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.
A number of research analysts have recently weighed in on PVH shares. Telsey Advisory Group reissued an “outperform” rating and issued a $155.00 price target (up previously from $145.00) on shares of PVH in a research note on Friday, March 29th. JPMorgan Chase & Co. increased their price target on PVH from $132.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Wells Fargo & Co cut their price target on PVH from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 2nd. Royal Bank of Canada started coverage on PVH in a research note on Wednesday, January 9th. They issued an “outperform” rating and a $122.00 price target on the stock. Finally, UBS Group increased their price target on PVH from $145.00 to $159.00 and gave the company a “buy” rating in a research note on Monday, April 1st. 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 issued a strong buy rating to the company. PVH currently has a consensus rating of “Buy” and a consensus target price of $146.40.
PVH (NYSE:PVH) last issued its earnings results on Wednesday, March 27th. The textile maker reported $1.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.76 by $0.08. PVH had a net margin of 7.73% and a return on equity of 13.12%. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the business posted $1.58 EPS. PVH’s revenue was down .6% on a year-over-year basis. As a group, equities analysts forecast that PVH Corp will post 10.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 28th were given a dividend of $0.0375 per share. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $0.15 annualized dividend and a yield of 0.11%. PVH’s dividend payout ratio (DPR) is presently 1.56%.
PVH declared that its Board of Directors has initiated a share repurchase plan on Wednesday, March 27th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the textile maker to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In other news, CEO Francis K. Duane sold 6,171 shares of PVH stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $127.27, for a total value of $785,383.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Dana Perlman sold 1,054 shares of PVH stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $128.92, for a total transaction of $135,881.68. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
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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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