Cramer Rosenthal Mcglynn LLC Trims Holdings in PVH Corp (NYSE:PVH)
Cramer Rosenthal Mcglynn LLC decreased its stake in shares of PVH Corp (NYSE:PVH) by 27.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 595,902 shares of the textile maker’s stock after selling 230,972 shares during the quarter. PVH comprises 1.5% of Cramer Rosenthal Mcglynn LLC’s holdings, making the stock its 18th largest position. Cramer Rosenthal Mcglynn LLC’s holdings in PVH were worth $56,396,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the stock. FMR LLC lifted its position in PVH by 13.9% during the first quarter. FMR LLC now owns 7,692,951 shares of the textile maker’s stock worth $938,155,000 after buying an additional 936,855 shares in the last quarter. JPMorgan Chase & Co. lifted its position in PVH by 7.2% during the second quarter. JPMorgan Chase & Co. now owns 5,681,044 shares of the textile maker’s stock worth $529,929,000 after buying an additional 383,485 shares in the last quarter. Pzena Investment Management LLC lifted its position in PVH by 54.3% during the second quarter. Pzena Investment Management LLC now owns 3,001,404 shares of the textile maker’s stock worth $284,053,000 after buying an additional 1,055,649 shares in the last quarter. Bank of New York Mellon Corp lifted its position in PVH by 75.7% during the second quarter. Bank of New York Mellon Corp now owns 1,455,221 shares of the textile maker’s stock worth $137,721,000 after buying an additional 627,188 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in PVH by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 1,207,475 shares of the textile maker’s stock worth $112,075,000 after buying an additional 44,504 shares in the last quarter. Hedge funds and other institutional investors own 96.41% of the company’s stock.
In related news, CEO Emanuel Chirico purchased 133,155 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $74.99 per share, for a total transaction of $9,985,293.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Henry Nasella purchased 6,250 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $80.37 per share, with a total value of $502,312.50. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.
Shares of PVH traded up $0.64 during trading hours on Friday, hitting $91.03. The stock had a trading volume of 114,652 shares, compared to its average volume of 1,761,730. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 1.40. The firm has a market cap of $6.80 billion, a P/E ratio of 9.48, a P/E/G ratio of 0.92 and a beta of 1.43. The company’s fifty day simple moving average is $78.44 and its 200 day simple moving average is $100.66. PVH Corp has a 12-month low of $67.41 and a 12-month high of $145.25.
PVH (NYSE:PVH) last issued its earnings results on Wednesday, August 28th. The textile maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.21. PVH had a return on equity of 12.64% and a net margin of 6.96%. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period last year, the company posted $2.18 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts predict that PVH Corp will post 9.4 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, August 30th will be issued a $0.038 dividend. This is an increase from PVH’s previous quarterly dividend of $0.04. This represents a $0.15 annualized dividend and a yield of 0.17%. The ex-dividend date is Thursday, August 29th. PVH’s dividend payout ratio is currently 1.56%.
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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