Sei Investments Co. Raises Stake in PVH Corp. (NYSE:PVH)

Sei Investments Co. boosted its holdings in PVH Corp. (NYSE:PVH) by 30.1% during the second quarter, Holdings Channel.com reports. The firm owned 160,058 shares of the textile maker’s stock after acquiring an additional 37,012 shares during the quarter. Sei Investments Co.’s holdings in PVH were worth $16,946,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Pacer Advisors Inc. increased its position in PVH by 13,275.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,222,207 shares of the textile maker’s stock valued at $129,395,000 after buying an additional 1,213,069 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of PVH by 2,339.3% during the second quarter. Canada Pension Plan Investment Board now owns 68,300 shares of the textile maker’s stock valued at $7,231,000 after acquiring an additional 65,500 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of PVH in the 2nd quarter worth about $284,000. MQS Management LLC bought a new position in PVH in the 2nd quarter worth about $231,000. Finally, XTX Topco Ltd grew its position in PVH by 36.5% during the 2nd quarter. XTX Topco Ltd now owns 12,692 shares of the textile maker’s stock valued at $1,344,000 after purchasing an additional 3,394 shares during the last quarter. Institutional investors own 97.25% of the company’s stock.

Wall Street Analysts Forecast Growth

PVH has been the topic of several analyst reports. Barclays dropped their target price on shares of PVH from $154.00 to $142.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. Wedbush reiterated an “outperform” rating and set a $128.00 target price on shares of PVH in a research note on Wednesday, June 5th. StockNews.com cut PVH from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 16th. Bank of America reduced their price objective on PVH from $133.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, The Goldman Sachs Group lowered their target price on shares of PVH from $144.00 to $124.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PVH presently has a consensus rating of “Moderate Buy” and an average target price of $130.40.

PVH Stock Performance

NYSE:PVH opened at $97.51 on Friday. The stock has a 50-day moving average price of $97.83 and a 200 day moving average price of $109.32. The company has a current ratio of 1.24, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. PVH Corp. has a 12-month low of $69.27 and a 12-month high of $141.15. The stock has a market capitalization of $5.44 billion, a P/E ratio of 8.63, a P/E/G ratio of 0.75 and a beta of 2.12.

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

PVH Announces Dividend

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

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.