Ropes Wealth Advisors LLC purchased a new position in PVH Corp (NYSE:PVH) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 327 shares of the textile maker’s stock, valued at approximately $40,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of PVH. Virtu Financial LLC raised its position in PVH by 177.8% during the first quarter. Virtu Financial LLC now owns 11,378 shares of the textile maker’s stock valued at $1,388,000 after acquiring an additional 7,282 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in PVH during the first quarter valued at approximately $202,000. Calamos Advisors LLC raised its position in shares of PVH by 1.0% in the first quarter. Calamos Advisors LLC now owns 40,205 shares of the textile maker’s stock valued at $4,903,000 after purchasing an additional 406 shares during the period. Gateway Investment Advisers LLC raised its position in shares of PVH by 13.9% in the first quarter. Gateway Investment Advisers LLC now owns 103,932 shares of the textile maker’s stock valued at $12,675,000 after purchasing an additional 12,672 shares during the period. Finally, We Are One Seven LLC raised its position in shares of PVH by 95.9% in the first quarter. We Are One Seven LLC now owns 4,251 shares of the textile maker’s stock valued at $518,000 after purchasing an additional 2,081 shares during the period. 96.14% of the stock is owned by institutional investors and hedge funds.
In other PVH news, CEO Francis K. Duane sold 6,171 shares of PVH stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $127.27, for a total transaction of $785,383.17. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by insiders.
PVH (NYSE:PVH) last posted its quarterly earnings results on Wednesday, March 27th. The textile maker reported $1.84 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the company earned $1.58 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. On average, sell-side analysts anticipate that PVH Corp will post 10.44 EPS for the current fiscal year.
PVH announced that its board has authorized a share buyback program on Wednesday, March 27th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the textile maker to reacquire up to 8.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 28th were paid a dividend of $0.0375 per share. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. PVH’s dividend payout ratio is currently 1.56%.
Several brokerages have recently issued reports on PVH. Wells Fargo & Co lowered their price objective on shares of PVH from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 2nd. UBS Group upgraded shares of PVH from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $170.00 to $145.00 in a research note on Monday, January 7th. ValuEngine upgraded shares of PVH from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 9th. Royal Bank of Canada began coverage on shares of PVH in a research note on Wednesday, January 9th. They issued an “outperform” rating and a $122.00 price objective on the stock. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $145.00 price objective (down previously from $155.00) on shares of PVH in a research note on Friday, January 11th. Two investment 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 stock. The company currently 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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