PVH Corp. (NYSE:PVH) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in PVH Corp. (NYSE:PVHGet Rating) by 26.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,761 shares of the textile maker’s stock after selling 6,045 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in PVH were worth $954,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PVH. Pzena Investment Management LLC increased its stake in PVH by 1.3% in the 2nd quarter. Pzena Investment Management LLC now owns 7,939,967 shares of the textile maker’s stock valued at $451,784,000 after purchasing an additional 103,775 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in PVH by 17.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,215,397 shares of the textile maker’s stock valued at $169,740,000 after purchasing an additional 329,358 shares in the last quarter. Invesco Ltd. increased its stake in PVH by 9.7% in the 1st quarter. Invesco Ltd. now owns 1,684,738 shares of the textile maker’s stock valued at $129,067,000 after purchasing an additional 148,917 shares in the last quarter. Sound Shore Management Inc CT increased its stake in PVH by 14.2% in the 2nd quarter. Sound Shore Management Inc CT now owns 1,651,076 shares of the textile maker’s stock valued at $93,946,000 after purchasing an additional 205,122 shares in the last quarter. Finally, Viking Global Investors LP increased its stake in PVH by 100.6% in the 1st quarter. Viking Global Investors LP now owns 1,542,375 shares of the textile maker’s stock valued at $118,161,000 after purchasing an additional 773,566 shares in the last quarter. 95.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PVH has been the subject of several recent research reports. Telsey Advisory Group dropped their price target on PVH from $110.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, September 1st. BMO Capital Markets dropped their price target on PVH from $88.00 to $79.00 and set a “market perform” rating for the company in a research report on Wednesday, August 31st. Evercore ISI dropped their price target on PVH to $60.00 in a research report on Tuesday, September 6th. Morgan Stanley dropped their price target on PVH from $83.00 to $51.00 and set an “equal weight” rating for the company in a research report on Friday, September 2nd. Finally, Guggenheim dropped their price target on PVH from $130.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, August 31st. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $77.53.

PVH Price Performance

Shares of PVH stock opened at $60.35 on Monday. PVH Corp. has a twelve month low of $43.49 and a twelve month high of $120.74. The stock has a market capitalization of $3.94 billion, a P/E ratio of 4.61, a PEG ratio of 0.80 and a beta of 2.03. The company has a current ratio of 1.35, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. The business’s fifty day moving average price is $51.89 and its 200 day moving average price is $59.25.

PVH (NYSE:PVHGet Rating) last issued its earnings results on Tuesday, August 30th. The textile maker reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.07. PVH had a return on equity of 12.72% and a net margin of 10.19%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the firm earned $2.72 earnings per share. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, research analysts anticipate that PVH Corp. will post 7.92 earnings per share for the current year.

PVH Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 21st. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.0375 per share. 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 presently 1.15%.

PVH Profile

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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.

See Also

Institutional Ownership by Quarter for PVH (NYSE:PVH)

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