Seven Eight Capital LP Cuts Stock Position in PVH Corp. (NYSE:PVH)

Seven Eight Capital LP reduced its position in PVH Corp. (NYSE:PVH) by 17.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,567 shares of the textile maker’s stock after selling 4,018 shares during the quarter. Seven Eight Capital LP’s holdings in PVH were worth $1,966,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PVH. New Covenant Trust Company N.A. purchased a new position in shares of PVH in the 1st quarter worth about $26,000. Riverview Trust Co purchased a new position in shares of PVH in the 1st quarter worth about $36,000. Headlands Technologies LLC purchased a new position in shares of PVH in the 1st quarter worth about $36,000. Daiwa Securities Group Inc. purchased a new position in shares of PVH in the 1st quarter worth about $42,000. Finally, ORG Partners LLC purchased a new position in shares of PVH in the 2nd quarter worth about $42,000. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PVH has been the subject of a number of recent research reports. Telsey Advisory Group lowered their target price on PVH from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. 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. TD Cowen lowered their target price on PVH from $149.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Evercore ISI boosted their target price on PVH from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, June 3rd. Finally, StockNews.com lowered PVH from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 16th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, PVH has an average rating of “Moderate Buy” and a consensus target price of $130.40.

PVH Stock Up 0.1 %

Shares of NYSE:PVH opened at $96.25 on Thursday. PVH Corp. has a 52-week low of $69.27 and a 52-week high of $141.15. The firm has a market capitalization of $5.37 billion, a P/E ratio of 8.52, a P/E/G ratio of 0.72 and a beta of 2.12. The stock has a 50 day moving average price of $99.09 and a 200-day moving average price of $110.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 1.24.

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

PVH Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Wednesday, September 4th. PVH’s dividend payout ratio is currently 1.33%.

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.