Renaissance Technologies LLC Invests $7 Million in PVH Corp. (NYSE:PVH)

Renaissance Technologies LLC acquired a new position in shares of PVH Corp. (NYSE:PVH) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 66,070 shares of the textile maker’s stock, valued at approximately $6,995,000. Renaissance Technologies LLC owned approximately 0.12% of PVH as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in shares of PVH by 1.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,840 shares of the textile maker’s stock valued at $1,202,000 after purchasing an additional 141 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of PVH by 68.4% during the 4th quarter. Corient Private Wealth LLC now owns 7,765 shares of the textile maker’s stock worth $948,000 after purchasing an additional 3,154 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in PVH by 15.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 810 shares of the textile maker’s stock valued at $99,000 after acquiring an additional 110 shares during the last quarter. Allianz Asset Management GmbH increased its position in PVH by 36.2% in the fourth quarter. Allianz Asset Management GmbH now owns 209,381 shares of the textile maker’s stock worth $25,570,000 after buying an additional 55,601 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in PVH in the 4th quarter valued at about $1,269,000. Institutional investors own 97.25% of the company’s stock.

PVH Stock Performance

NYSE PVH opened at $94.98 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.24 and a quick ratio of 0.66. PVH Corp. has a 1-year low of $69.27 and a 1-year high of $141.15. The business has a 50 day simple moving average of $97.91 and a two-hundred day simple moving average of $109.40. The stock has a market capitalization of $5.30 billion, a PE ratio of 8.41, a P/E/G ratio of 0.75 and a beta of 2.12.

PVH (NYSE:PVH) last released its quarterly earnings results on Tuesday, August 27th. The textile maker reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.72. PVH had a net margin of 8.37% and a return on equity of 13.94%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. PVH’s revenue was down 6.0% on a year-over-year basis. On average, research analysts predict that PVH Corp. will post 11.59 EPS for the current fiscal year.

PVH Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were paid a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Wednesday, September 4th. PVH’s dividend payout ratio is currently 1.33%.

Analyst Ratings Changes

PVH has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on PVH from $145.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Wedbush reiterated an “outperform” rating and set a $128.00 price target on shares of PVH in a research report on Wednesday, June 5th. Morgan Stanley lowered their target price on PVH from $120.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, September 6th. The Goldman Sachs Group decreased their price objective on shares of PVH from $144.00 to $124.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, BMO Capital Markets dropped their price target on PVH from $119.00 to $106.00 and set a “market perform” rating for the company in a research note on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, PVH presently has a consensus rating of “Moderate Buy” and an average target price of $130.40.

PVH Company Profile

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, and Heritage Brands Wholesale segments. It designs and markets men's, women's, and children's branded apparel, footwear and accessories, underwear, sleepwear, outerwear, home furnishings, luggage, dresses, suits and swimwear, activewear, sportswear, socks and accessories, outerwear, golf products, footwear, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, jeans wear, performance apparel, intimate apparel, dress shirts, handbags, fragrance, small leather goods, and other related products; and men's and boy's tailored clothing products, duvets, pillows, mattress pads and toppers, and feather beds.