Sound Shore Management Inc. CT Lowers Stake in PVH Corp. (NYSE:PVH)

Sound Shore Management Inc. CT trimmed its position in PVH Corp. (NYSE:PVH) by 4.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 911,857 shares of the textile maker’s stock after selling 37,709 shares during the period. PVH comprises about 3.2% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 5th biggest position. Sound Shore Management Inc. CT’s holdings in PVH were worth $96,538,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PVH. Pzena Investment Management LLC boosted its holdings in shares of PVH by 5.3% in the second quarter. Pzena Investment Management LLC now owns 5,623,706 shares of the textile maker’s stock worth $595,382,000 after buying an additional 284,269 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PVH by 1.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,148,855 shares of the textile maker’s stock worth $333,375,000 after acquiring an additional 55,293 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of PVH by 14.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,320,471 shares of the textile maker’s stock valued at $245,668,000 after acquiring an additional 296,040 shares during the period. Pacer Advisors Inc. increased its stake in shares of PVH by 13,275.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,222,207 shares of the textile maker’s stock worth $129,395,000 after purchasing an additional 1,213,069 shares in the last quarter. Finally, LSV Asset Management raised its holdings in PVH by 15.7% in the 2nd quarter. LSV Asset Management now owns 916,002 shares of the textile maker’s stock worth $96,977,000 after purchasing an additional 124,309 shares during the period. 97.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on PVH. Wells Fargo & Company reduced their price target on PVH from $145.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. Morgan Stanley reduced their target price on shares of PVH from $120.00 to $100.00 and set an “equal weight” rating for the company in a report on Friday, September 6th. Wedbush reaffirmed an “outperform” rating and set a $128.00 price target on shares of PVH in a report on Wednesday, June 5th. Evercore ISI increased their price objective on shares of PVH from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, June 3rd. Finally, StockNews.com cut shares of PVH from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $130.40.

PVH Stock Performance

NYSE PVH opened at $97.13 on Friday. 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 $98.66 and a two-hundred day simple moving average of $110.70. The stock has a market capitalization of $5.42 billion, a PE ratio of 8.60, a P/E/G ratio of 0.74 and a beta of 2.12.

PVH (NYSE:PVH) last announced its quarterly earnings results on Tuesday, August 27th. The textile maker reported $3.01 earnings per share for the quarter, topping 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 company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the business posted $1.98 earnings per share. PVH’s quarterly 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend is Wednesday, September 4th. PVH’s dividend payout ratio (DPR) 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.