Maverick Capital Ltd. Sells 21,995 Shares of PVH Corp. (NYSE:PVH)
Maverick Capital Ltd. lessened its stake in shares of PVH Corp. (NYSE:PVH – Free Report) by 35.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,395 shares of the textile maker’s stock after selling 21,995 shares during the quarter. Maverick Capital Ltd. owned approximately 0.06% of PVH worth $3,602,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Capital Management LLC bought a new stake in shares of PVH in the first quarter worth $214,000. Gotham Asset Management LLC bought a new stake in shares of PVH in the first quarter worth $241,000. Two Sigma Investments LP bought a new stake in shares of PVH in the first quarter worth $20,584,000. Deutsche Bank AG grew its stake in shares of PVH by 37.0% in the first quarter. Deutsche Bank AG now owns 822,183 shares of the textile maker’s stock worth $73,306,000 after purchasing an additional 222,064 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of PVH by 7.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,989 shares of the textile maker’s stock worth $3,299,000 after purchasing an additional 2,429 shares during the last quarter. Institutional investors own 97.25% of the company’s stock.
PVH Stock Performance
Shares of PVH stock traded down $0.07 during trading hours on Monday, hitting $79.67. 176,953 shares of the company were exchanged, compared to its average volume of 960,233. The firm has a fifty day simple moving average of $84.56 and a 200 day simple moving average of $83.27. The company has a current ratio of 1.09, a quick ratio of 0.68 and a debt-to-equity ratio of 0.32. PVH Corp. has a 52-week low of $43.49 and a 52-week high of $94.51. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 0.58 and a beta of 2.09.
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PVH (NYSE:PVH – Get Free Report) last released its quarterly earnings data on Wednesday, August 30th. The textile maker reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.23. PVH had a net margin of 1.99% and a return on equity of 11.63%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the business earned $2.08 EPS. PVH’s revenue was up 3.5% compared to the same quarter last year. Research analysts predict that PVH Corp. will post 10.33 earnings per share for the current fiscal year.
PVH Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 6th will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend is Tuesday, September 5th. PVH’s payout ratio is 5.10%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on PVH. Morgan Stanley increased their price target on PVH from $77.00 to $81.00 and gave the stock an “equal weight” rating in a report on Friday, September 1st. Citigroup increased their price target on PVH from $86.00 to $88.00 and gave the stock a “neutral” rating in a report on Thursday, August 31st. BMO Capital Markets increased their price target on PVH from $81.00 to $90.00 in a report on Thursday, June 1st. Guggenheim reiterated a “buy” rating and set a $110.00 price target on shares of PVH in a report on Wednesday, August 30th. Finally, StockNews.com upgraded PVH from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.83.
View Our Latest Analysis on PVH
PVH Corp. operates as an apparel company in the United States and internationally. The company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men’s, women’s, and children’s apparel and accessories, include branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, swimwear, swim-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage products, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, home bed and bath furnishings, small leather goods, and other products.
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