Amalgamated Bank Decreases Stake in PVH Corp. (NYSE:PVH)

Amalgamated Bank cut its stake in PVH Corp. (NYSE:PVH) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,916 shares of the textile maker’s stock after selling 688 shares during the quarter. Amalgamated Bank’s holdings in PVH were worth $1,675,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. RBA Wealth Management LLC acquired a new stake in shares of PVH in the 1st quarter worth $3,758,000. Lecap Asset Management Ltd. acquired a new stake in shares of PVH during the 1st quarter worth about $1,871,000. State of Alaska Department of Revenue increased its position in shares of PVH by 2.3% during the 1st quarter. State of Alaska Department of Revenue now owns 6,517 shares of the textile maker’s stock worth $421,000 after purchasing an additional 149 shares during the last quarter. PKO Investment Management Joint Stock Co increased its position in shares of PVH by 100.0% during the 1st quarter. PKO Investment Management Joint Stock Co now owns 5,000 shares of the textile maker’s stock worth $323,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of PVH by 2.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,590 shares of the textile maker’s stock worth $878,000 after purchasing an additional 377 shares during the last quarter. 97.25% of the stock is owned by institutional investors and hedge funds.

PVH Price Performance

PVH stock opened at $72.97 on Monday. The company has a market capitalization of $3.51 billion, a P/E ratio of 10.29, a PEG ratio of 1.49 and a beta of 1.81. PVH Corp. has a twelve month low of $59.28 and a twelve month high of $113.47. The business has a 50 day simple moving average of $73.59 and a 200-day simple moving average of $78.49. The company has a current ratio of 1.11, a quick ratio of 0.53 and a debt-to-equity ratio of 0.37.

PVH (NYSE:PVH) last released its quarterly earnings results on Wednesday, June 4th. The textile maker reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.06. PVH had a return on equity of 12.66% and a net margin of 4.63%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the company posted $2.45 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. As a group, equities analysts anticipate that PVH Corp. will post 11.67 EPS for the current year.

PVH Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Wednesday, June 4th. PVH’s dividend payout ratio (DPR) is presently 2.12%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PVH. Evercore ISI cut their price objective on PVH from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, June 5th. Barclays dropped their target price on PVH from $87.00 to $83.00 and set an “overweight” rating for the company in a research report on Monday, June 9th. BMO Capital Markets dropped their target price on PVH from $93.00 to $84.00 and set a “market perform” rating for the company in a research report on Thursday, June 5th. Morgan Stanley dropped their target price on PVH from $86.00 to $64.00 and set an “equal weight” rating for the company in a research report on Friday, June 6th. Finally, Bank of America dropped their target price on PVH from $86.00 to $76.00 and set a “neutral” rating for the company in a research report on Friday, June 6th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, PVH presently has a consensus rating of “Moderate Buy” and an average target price of $98.27.

Insider Activity at PVH

In other PVH news, Director Jesper Andersen acquired 600 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The shares were purchased at an average price of $66.10 per share, with a total value of $39,660.00. Following the completion of the acquisition, the director directly owned 736 shares of the company’s stock, valued at approximately $48,649.60. The trade was a 441.18% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Stefan Larsson acquired 15,645 shares of the company’s stock in a transaction that occurred on Thursday, June 26th. The shares were acquired at an average cost of $63.92 per share, for a total transaction of $1,000,028.40. Following the acquisition, the chief executive officer directly owned 269,438 shares of the company’s stock, valued at $17,222,476.96. This trade represents a 6.16% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

About PVH

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.