Meeder Asset Management Inc. Grows Stake in PVH Corp (NYSE:PVH)
Meeder Asset Management Inc. lifted its position in PVH Corp (NYSE:PVH) by 21.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,974 shares of the textile maker’s stock after buying an additional 1,573 shares during the period. Meeder Asset Management Inc.’s holdings in PVH were worth $850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in PVH. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of PVH by 4.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 5,639 shares of the textile maker’s stock valued at $534,000 after acquiring an additional 241 shares in the last quarter. AlphaMark Advisors LLC lifted its position in shares of PVH by 29.4% in the second quarter. AlphaMark Advisors LLC now owns 31,036 shares of the textile maker’s stock valued at $2,937,000 after acquiring an additional 7,044 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of PVH by 54.3% in the second quarter. Pzena Investment Management LLC now owns 3,001,404 shares of the textile maker’s stock valued at $284,053,000 after acquiring an additional 1,055,649 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of PVH by 54.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 60,569 shares of the textile maker’s stock valued at $5,707,000 after acquiring an additional 21,381 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of PVH in the second quarter valued at about $2,185,000. Hedge funds and other institutional investors own 99.13% of the company’s stock.
Shares of PVH stock opened at $73.01 on Thursday. PVH Corp has a 12-month low of $67.41 and a 12-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 stock’s 50-day moving average price is $83.57 and its 200-day moving average price is $104.27. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 7.61, a price-to-earnings-growth ratio of 0.59 and a beta of 1.40.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.038 per share. This is a boost from PVH’s previous quarterly dividend of $0.04. This represents a $0.15 annualized dividend and a yield of 0.21%. The ex-dividend date is Thursday, August 29th. PVH’s payout ratio is presently 1.56%.
In related news, Director Henry Nasella acquired 1,200 shares of PVH stock in a transaction on Friday, May 31st. The shares were bought at an average cost of $82.84 per share, with a total value of $99,408.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.
PVH has been the topic of several research analyst reports. Piper Jaffray Companies set a $82.00 price objective on PVH and gave the company a “buy” rating in a research report on Friday, August 16th. Guggenheim restated a “buy” rating and issued a $150.00 price objective on shares of PVH in a research report on Wednesday, May 29th. Deutsche Bank lowered their price objective on PVH from $178.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Citigroup lowered their price objective on PVH from $128.00 to $91.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Finally, TheStreet downgraded PVH from a “b” rating to a “c+” rating in a research report on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $123.26.
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, 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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