PVH Corp (PVH) Stake Lowered by Ontario Teachers Pension Plan Board
Ontario Teachers Pension Plan Board trimmed its position in shares of PVH Corp (NYSE:PVH) by 76.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,096 shares of the textile maker’s stock after selling 6,809 shares during the period. Ontario Teachers Pension Plan Board’s holdings in PVH were worth $303,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Martingale Asset Management L P raised its stake in shares of PVH by 225.2% during 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 acquiring an additional 6,102 shares during the last quarter. Millennium Management LLC raised its stake in PVH by 118.4% in the second quarter. Millennium Management LLC now owns 936,344 shares of the textile maker’s stock worth $140,189,000 after buying an additional 507,641 shares in the last quarter. California Public Employees Retirement System raised its stake in PVH by 4.1% in the second quarter. California Public Employees Retirement System now owns 195,194 shares of the textile maker’s stock worth $29,224,000 after buying an additional 7,714 shares in the last quarter. Globeflex Capital L P raised its stake in PVH by 28.7% in the second quarter. Globeflex Capital L P now owns 6,663 shares of the textile maker’s stock worth $998,000 after buying an additional 1,484 shares in the last quarter. Finally, Exane Asset Management bought a new position in PVH in the second quarter worth about $224,000. 95.35% of the stock is owned by hedge funds and other institutional investors.
NYSE:PVH opened at $110.51 on Monday. PVH Corp has a 52 week low of $106.63 and a 52 week high of $169.22. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.85 and a current ratio of 1.74. The company has a market cap of $8.48 billion, a PE ratio of 13.92, a PEG ratio of 0.94 and a beta of 0.88.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Wednesday, November 28th will be issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Tuesday, November 27th. PVH’s payout ratio is 1.89%.
A number of equities analysts recently issued reports on PVH shares. Bank of America set a $180.00 price target on shares of PVH and gave the stock a “buy” rating in a research note on Thursday, August 30th. ValuEngine cut shares of PVH from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. Barclays set a $178.00 price objective on shares of PVH and gave the stock a “buy” rating in a report on Thursday, October 18th. Zacks Investment Research upgraded shares of PVH from a “hold” rating to a “buy” rating and set a $166.00 price objective on the stock in a report on Friday, August 17th. Finally, Buckingham Research cut their price objective on shares of PVH from $188.00 to $176.00 and set a “buy” rating on the stock in a report on Wednesday, October 17th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. PVH presently has an average rating of “Buy” and a consensus target price of $158.10.
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PVH Company 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, 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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