Global X Management Co LLC increased its holdings in PVH Corp (NYSE:PVH) by 12.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,933 shares of the textile maker’s stock after purchasing an additional 749 shares during the period. Global X Management Co LLC’s holdings in PVH were worth $1,038,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Millennium Management LLC grew its position in shares of PVH by 118.4% in the second quarter. Millennium Management LLC now owns 936,344 shares of the textile maker’s stock valued at $140,189,000 after purchasing an additional 507,641 shares during the period. Martingale Asset Management L P grew its position in shares of PVH by 225.2% in the second quarter. Martingale Asset Management L P now owns 8,811 shares of the textile maker’s stock valued at $1,320,000 after purchasing an additional 6,102 shares during the period. Globeflex Capital L P grew its position in shares of PVH by 28.7% in the second quarter. Globeflex Capital L P now owns 6,663 shares of the textile maker’s stock valued at $998,000 after purchasing an additional 1,484 shares during the period. Third Point LLC purchased a new stake in shares of PVH in the second quarter valued at $93,575,000. Finally, IBM Retirement Fund purchased a new stake in shares of PVH in the first quarter valued at $255,000. 95.93% of the stock is owned by institutional investors and hedge funds.
PVH has been the subject of a number of recent analyst reports. Credit Suisse Group lifted their price objective on PVH from $178.00 to $185.00 and gave the company an “outperform” rating in a research report on Tuesday, June 26th. UBS Group initiated coverage on PVH in a research report on Thursday, June 21st. They issued a “neutral” rating and a $180.00 price objective for the company. Telsey Advisory Group reaffirmed an “outperform” rating on shares of PVH in a research report on Thursday, August 30th. Deutsche Bank lifted their price objective on PVH from $171.00 to $173.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. Finally, Bank of America set a $180.00 price objective on PVH and gave the company a “buy” rating in a research report on Thursday, August 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $173.16.
PVH (NYSE:PVH) last posted its quarterly earnings results on Wednesday, August 29th. The textile maker reported $2.18 earnings per share (EPS) 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 firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the business earned $1.69 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. research analysts anticipate that PVH Corp will post 9.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 25th. Shareholders of record on Wednesday, August 29th were paid a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date was Tuesday, August 28th. PVH’s dividend payout ratio is presently 1.89%.
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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