Crossmark Global Holdings Inc. Buys 2,341 Shares of PVH Corp. (NYSE:PVH)
Crossmark Global Holdings Inc. lifted its stake in shares of PVH Corp. (NYSE:PVH – Get Rating) by 48.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,220 shares of the textile maker’s stock after acquiring an additional 2,341 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in PVH were worth $323,000 at the end of the most recent reporting period.
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A number of other large investors have also recently modified their holdings of PVH. Raymond James & Associates boosted its stake in shares of PVH by 20.3% during the first quarter. Raymond James & Associates now owns 19,681 shares of the textile maker’s stock valued at $1,508,000 after purchasing an additional 3,326 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of PVH by 17.8% in the 1st quarter. HighTower Advisors LLC now owns 6,146 shares of the textile maker’s stock valued at $472,000 after buying an additional 930 shares in the last quarter. Citigroup Inc. grew its position in shares of PVH by 29.2% in the 1st quarter. Citigroup Inc. now owns 35,739 shares of the textile maker’s stock worth $2,738,000 after buying an additional 8,081 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in PVH by 2.0% during the first quarter. PNC Financial Services Group Inc. now owns 11,444 shares of the textile maker’s stock valued at $877,000 after acquiring an additional 226 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in PVH by 21.3% in the first quarter. MetLife Investment Management LLC now owns 19,033 shares of the textile maker’s stock worth $1,458,000 after purchasing an additional 3,336 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.
PVH Stock Up 4.2 %
PVH stock opened at $90.12 on Tuesday. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.02 and a beta of 2.01. The firm has a 50-day moving average of $72.26 and a two-hundred day moving average of $62.08. PVH Corp. has a 12 month low of $43.49 and a 12 month high of $105.43. The company has a current ratio of 1.35, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44.
PVH (NYSE:PVH – Get Rating) last released its quarterly earnings data on Wednesday, November 30th. The textile maker reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.47. PVH had a return on equity of 12.49% and a net margin of 5.05%. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.23 billion. As a group, analysts forecast that PVH Corp. will post 8.26 earnings per share for the current fiscal year.
PVH Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 21st. Shareholders of record on Wednesday, November 30th were issued a $0.0375 dividend. The ex-dividend date was Tuesday, November 29th. This represents a $0.15 annualized dividend and a yield of 0.17%. PVH’s payout ratio is 2.38%.
Insider Activity
In related news, EVP Mark D. Fischer sold 1,732 shares of the company’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $81.00, for a total value of $140,292.00. Following the transaction, the executive vice president now directly owns 32,468 shares in the company, valued at $2,629,908. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Mark D. Fischer sold 1,732 shares of the business’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $81.00, for a total value of $140,292.00. Following the sale, the executive vice president now directly owns 32,468 shares in the company, valued at approximately $2,629,908. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP James Holmes sold 4,417 shares of the company’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $74.68, for a total transaction of $329,861.56. Following the completion of the transaction, the executive vice president now directly owns 15,420 shares in the company, valued at approximately $1,151,565.60. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.
Wall Street Analyst Weigh In
PVH has been the topic of several recent analyst reports. Cowen upped their price objective on shares of PVH from $75.00 to $86.00 in a report on Friday, January 6th. Telsey Advisory Group upped their target price on PVH from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, December 2nd. Barclays upgraded shares of PVH from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $72.00 to $106.00 in a research note on Friday. JPMorgan Chase & Co. increased their price target on PVH from $77.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $51.00 target price on shares of PVH in a report on Friday, December 2nd. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $85.21.
About PVH
PVH Corp. engages in the design and marketing of branded dress shirts, neckwear, sportswear, jeans wear, intimate apparel, swim products, handbags, footwear, and other related products. It operates through the following segments: Calvin Klein North America, Calvin Klein International, Tommy Hilfiger North America, Tommy Hilfiger International, Heritage Brands Wholesale, and Heritage Brands Retail.
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