JPMorgan Chase & Co. Buys 383,485 Shares of PVH Corp (NYSE:PVH)

JPMorgan Chase & Co. raised its stake in PVH Corp (NYSE:PVH) by 7.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,681,044 shares of the textile maker’s stock after buying an additional 383,485 shares during the period. JPMorgan Chase & Co. owned about 7.58% of PVH worth $529,929,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PVH. Valeo Financial Advisors LLC boosted its position in shares of PVH by 2,000.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 315 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 300 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of PVH by 17.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 817 shares of the textile maker’s stock valued at $100,000 after purchasing an additional 123 shares in the last quarter. Quantamental Technologies LLC boosted its position in shares of PVH by 196.7% during the 1st quarter. Quantamental Technologies LLC now owns 899 shares of the textile maker’s stock valued at $110,000 after purchasing an additional 596 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of PVH by 78.8% during the 1st quarter. Quadrant Capital Group LLC now owns 987 shares of the textile maker’s stock valued at $118,000 after purchasing an additional 435 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC boosted its position in shares of PVH by 54.2% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,135 shares of the textile maker’s stock valued at $138,000 after purchasing an additional 399 shares in the last quarter. Hedge funds and other institutional investors own 99.13% of the company’s stock.

Several brokerages recently commented on PVH. UBS Group cut their target price on PVH from $159.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, June 3rd. Telsey Advisory Group restated an “outperform” rating and set a $119.00 target price (down previously from $155.00) on shares of PVH in a research report on Thursday, May 30th. JPMorgan Chase & Co. cut their target price on PVH from $139.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Wells Fargo & Co cut their target price on PVH from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Finally, Bank of America set a $165.00 target price on PVH and gave the company a “buy” rating in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $121.68.

In related news, Director Henry Nasella acquired 1,200 shares of the stock in a transaction dated Friday, May 31st. The stock was purchased at an average cost of $82.84 per share, with a total value of $99,408.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

PVH stock traded down $3.73 during trading on Friday, reaching $69.01. 2,005,858 shares of the stock were exchanged, compared to its average volume of 1,470,826. The firm’s 50 day moving average is $82.66 and its 200 day moving average is $103.89. PVH Corp has a twelve month low of $67.41 and a twelve month high of $157.20. The company has a current ratio of 1.47, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. The firm has a market cap of $5.45 billion, a P/E ratio of 7.19, a price-to-earnings-growth ratio of 0.59 and a beta of 1.40.

PVH (NYSE:PVH) last posted its quarterly earnings results on Wednesday, May 29th. The textile maker reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.02. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.37 billion. PVH had a return on equity of 13.03% and a net margin of 6.69%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.36 EPS. As a group, analysts predict that PVH Corp will post 10.19 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, August 30th will be paid a $0.038 dividend. The ex-dividend date is Thursday, August 29th. This is an increase from PVH’s previous quarterly dividend of $0.04. This represents a $0.15 annualized dividend and a dividend yield of 0.22%. PVH’s dividend payout ratio is 1.56%.

PVH 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, 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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Institutional Ownership by Quarter for PVH (NYSE:PVH)

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