Swiss National Bank Trims Holdings in PVH Corp. $PVH

Swiss National Bank cut its stake in PVH Corp. (NYSE:PVH) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 107,800 shares of the textile maker’s stock after selling 2,000 shares during the quarter. Swiss National Bank owned about 0.20% of PVH worth $6,968,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH grew its position in PVH by 9.6% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 209,460 shares of the textile maker’s stock worth $13,539,000 after buying an additional 18,370 shares in the last quarter. Visionary Horizons LLC purchased a new position in PVH during the first quarter worth about $513,000. Wedge Capital Management L L P NC grew its position in PVH by 60.2% during the first quarter. Wedge Capital Management L L P NC now owns 38,132 shares of the textile maker’s stock worth $2,465,000 after buying an additional 14,331 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in PVH by 106.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,109 shares of the textile maker’s stock worth $963,000 after buying an additional 4,706 shares in the last quarter. Finally, Alberta Investment Management Corp grew its position in PVH by 41.5% during the first quarter. Alberta Investment Management Corp now owns 34,393 shares of the textile maker’s stock worth $2,223,000 after buying an additional 10,093 shares in the last quarter. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Stefan Larsson bought 15,645 shares of PVH stock in a transaction on Thursday, June 26th. The shares were purchased at an average price of $63.92 per share, for a total transaction of $1,000,028.40. Following the acquisition, the chief executive officer owned 269,438 shares of the company’s stock, valued at approximately $17,222,476.96. The trade was a 6.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jesper Andersen bought 600 shares of PVH stock in a transaction on Wednesday, June 11th. The shares were purchased at an average price of $66.10 per share, for a total transaction of $39,660.00. Following the acquisition, the director directly owned 736 shares in the company, valued at approximately $48,649.60. This trade represents a 441.18% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

PVH Trading Up 0.9%

NYSE PVH opened at $76.77 on Monday. The stock has a 50-day moving average of $71.01 and a 200-day moving average of $72.96. The firm has a market cap of $3.69 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 1.58 and a beta of 1.84. The company has a current ratio of 1.11, a quick ratio of 0.53 and a debt-to-equity ratio of 0.37. PVH Corp. has a 1-year low of $59.28 and a 1-year high of $113.47.

PVH (NYSE:PVH) last released its quarterly earnings results on Wednesday, June 4th. The textile maker reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.06. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.93 billion. PVH had a return on equity of 12.66% and a net margin of 4.63%. PVH’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.45 EPS. As a group, sell-side analysts forecast that PVH Corp. will post 11.67 EPS for the current year.

PVH Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.0375 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.15 dividend on an annualized basis and a yield of 0.2%. PVH’s dividend payout ratio is presently 2.12%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Evercore ISI reduced their target price on PVH from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, June 5th. Wall Street Zen upgraded PVH from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price target on shares of PVH in a research note on Thursday, June 5th. Wells Fargo & Company dropped their price target on PVH from $100.00 to $80.00 and set an “equal weight” rating for the company in a research note on Thursday, June 5th. Finally, Barclays dropped their price target on PVH from $87.00 to $83.00 and set an “overweight” rating for the company in a research note on Monday, June 9th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $93.40.

PVH 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.