Point72 Asset Management L.P. Raises Stake in PVH Corp. (NYSE:PVH)

Point72 Asset Management L.P. increased its stake in PVH Corp. (NYSE:PVH) by 6,471.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 289,139 shares of the textile maker’s stock after buying an additional 284,739 shares during the period. Point72 Asset Management L.P. owned 0.52% of PVH worth $30,611,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PVH. BNP Paribas Financial Markets raised its stake in shares of PVH by 321.8% during the first quarter. BNP Paribas Financial Markets now owns 39,996 shares of the textile maker’s stock valued at $5,624,000 after acquiring an additional 30,513 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of PVH by 36.2% in the 4th 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 period. Capstone Investment Advisors LLC grew its position in shares of PVH by 115.5% during the 1st quarter. Capstone Investment Advisors LLC now owns 22,388 shares of the textile maker’s stock worth $3,148,000 after buying an additional 11,999 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of PVH during the first quarter valued at $961,000. Finally, Quadrature Capital Ltd raised its holdings in shares of PVH by 215.3% in the first quarter. Quadrature Capital Ltd now owns 23,397 shares of the textile maker’s stock valued at $3,290,000 after acquiring an additional 15,976 shares in the last quarter. Institutional investors own 97.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PVH. 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 report on Thursday, August 29th. Telsey Advisory Group dropped their target price on PVH from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. 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. StockNews.com downgraded PVH from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 16th. Finally, BMO Capital Markets reduced their target price on shares of PVH from $119.00 to $106.00 and set a “market perform” rating for the company in a report on Wednesday, August 28th. Four equities research 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 currently has an average rating of “Moderate Buy” and an average target price of $130.40.

PVH Stock Performance

Shares of PVH opened at $97.51 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 1.24. The stock has a 50-day moving average of $97.83 and a two-hundred day moving average of $109.32. The stock has a market cap 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 Corp. has a one year low of $69.27 and a one year high of $141.15.

PVH (NYSE:PVH) last issued its earnings results on Tuesday, August 27th. The textile maker reported $3.01 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. PVH’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, research analysts predict that PVH Corp. will post 11.59 EPS for the current year.

PVH Dividend Announcement

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