Mitsubishi UFJ Trust & Banking Corp trimmed its stake in shares of PVH Corp. (NYSE:PVH – Get Rating) by 26.5% during the second quarter, HoldingsChannel reports. The fund owned 16,761 shares of the textile maker’s stock after selling 6,045 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in PVH were worth $954,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wilbanks Smith & Thomas Asset Management LLC raised its holdings in shares of PVH by 5.0% during the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,733 shares of the textile maker’s stock worth $273,000 after acquiring an additional 179 shares during the period. Great West Life Assurance Co. Can increased its stake in PVH by 1.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 14,483 shares of the textile maker’s stock valued at $1,157,000 after buying an additional 200 shares during the last quarter. Victory Capital Management Inc. increased its stake in PVH by 3.9% in the 2nd quarter. Victory Capital Management Inc. now owns 5,501 shares of the textile maker’s stock valued at $313,000 after buying an additional 209 shares during the last quarter. Fifth Third Bancorp increased its stake in PVH by 7.5% in the 2nd quarter. Fifth Third Bancorp now owns 3,055 shares of the textile maker’s stock valued at $174,000 after buying an additional 214 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in PVH by 2.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,444 shares of the textile maker’s stock valued at $877,000 after buying an additional 226 shares during the last quarter. 95.82% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have recently weighed in on PVH shares. Telsey Advisory Group lowered their price objective on shares of PVH from $110.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, September 1st. Cowen reduced their target price on shares of PVH to $70.00 in a report on Tuesday, September 6th. StockNews.com initiated coverage on shares of PVH in a report on Wednesday, October 12th. They set a “hold” rating for the company. Evercore ISI reduced their target price on shares of PVH to $60.00 in a report on Tuesday, September 6th. Finally, Guggenheim reduced their target price on shares of PVH from $130.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, August 31st. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $77.53.
PVH Trading Up 1.0 %
PVH (NYSE:PVH – Get Rating) last announced its quarterly earnings results on Tuesday, August 30th. The textile maker reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.07. PVH had a net margin of 10.19% and a return on equity of 12.72%. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the prior year, the company posted $2.72 EPS. The company’s revenue was down 7.8% on a year-over-year basis. As a group, equities analysts forecast that PVH Corp. will post 7.92 EPS for the current year.
PVH Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 21st. Stockholders of record on Wednesday, November 30th will be paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Tuesday, November 29th. PVH’s dividend payout ratio is currently 1.15%.
PVH Corp. operates as an apparel company worldwide. The company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's, women's, and children's apparel and accessories, including branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, swimwear, swim-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage products, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, home bed and bath furnishings, small leather goods, and other products.
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