Russell Investments Group Ltd. Boosts Stake in PVH Corp. (PVH)
Russell Investments Group Ltd. increased its position in shares of PVH Corp. (NYSE:PVH) by 59.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 291,586 shares of the textile maker’s stock after buying an additional 108,988 shares during the period. Russell Investments Group Ltd. owned 0.37% of PVH Corp. worth $33,398,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in PVH Corp. by 1.4% in the first quarter. Vanguard Group Inc. now owns 7,942,535 shares of the textile maker’s stock worth $821,815,000 after buying an additional 112,758 shares during the period. BlackRock Inc. increased its position in PVH Corp. by 3,001.8% in the first quarter. BlackRock Inc. now owns 5,090,455 shares of the textile maker’s stock valued at $526,711,000 after buying an additional 4,926,341 shares during the period. State Street Corp increased its position in PVH Corp. by 1.7% in the first quarter. State Street Corp now owns 3,672,807 shares of the textile maker’s stock valued at $380,025,000 after buying an additional 61,303 shares during the period. Ameriprise Financial Inc. increased its position in PVH Corp. by 17.1% in the first quarter. Ameriprise Financial Inc. now owns 2,692,857 shares of the textile maker’s stock valued at $278,637,000 after buying an additional 393,500 shares during the period. Finally, Bank of New York Mellon Corp increased its position in PVH Corp. by 14.8% in the first quarter. Bank of New York Mellon Corp now owns 1,590,433 shares of the textile maker’s stock valued at $164,563,000 after buying an additional 204,936 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.
PVH Corp. (NYSE:PVH) traded up 1.85% during trading on Friday, hitting $123.88. The company had a trading volume of 686,327 shares. The stock has a market capitalization of $9.64 billion, a price-to-earnings ratio of 25.61 and a beta of 0.51. The firm’s 50 day moving average is $116.46 and its 200-day moving average is $102.67. PVH Corp. has a 52-week low of $84.53 and a 52-week high of $126.11.
PVH Corp. (NYSE:PVH) last posted its quarterly earnings results on Wednesday, May 24th. The textile maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.60 by $0.05. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. PVH Corp. had a net margin of 4.69% and a return on equity of 11.57%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $1.50 earnings per share. On average, equities analysts forecast that PVH Corp. will post $7.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Thursday, August 24th will be issued a dividend of $0.038 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend is Tuesday, August 22nd. PVH Corp.’s dividend payout ratio is currently 3.11%.
PVH has been the topic of several analyst reports. Bank of America Corporation initiated coverage on PVH Corp. in a research report on Thursday, August 3rd. They set a “buy” rating and a $146.00 target price on the stock. Zacks Investment Research downgraded PVH Corp. from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. Credit Suisse Group upgraded PVH Corp. from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $114.00 to $136.00 in a research report on Tuesday, May 30th. Citigroup Inc. boosted their price objective on PVH Corp. from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, May 30th. Finally, BidaskClub raised PVH Corp. from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $126.53.
In other PVH Corp. news, CEO Francis K. Duane sold 2,497 shares of PVH Corp. stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $105.99, for a total value of $264,657.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven B. Shiffman sold 2,200 shares of PVH Corp. stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $105.82, for a total transaction of $232,804.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,627 shares of company stock valued at $6,584,743. 1.30% of the stock is currently owned by corporate insiders.
About PVH Corp.
PVH Corp. is an apparel company. The Company operates through three segments: Calvin Klein, which consists of the Calvin Klein North America and Calvin Klein International segments; Tommy Hilfiger, which consists of the Tommy Hilfiger North America and Tommy Hilfiger International segments, and Heritage Brands, which consists of the Heritage Brands Wholesale and Heritage Brands Retail segments.
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