PVH Corp. (PVH) Posts Earnings Results
PVH Corp. (NYSE:PVH) announced its quarterly earnings data on Wednesday. The company reported $2.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.20. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.23 billion. PVH Corp. had a net margin of 8.34% and a return on equity of 12.55%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.66 EPS. PVH Corp. updated its Q4 guidance to $1.13-1.18 EPS.
PVH Corp. (NYSE:PVH) traded down 0.08% during midday trading on Wednesday, reaching $105.94. The company’s stock had a trading volume of 1,453,509 shares. The firm has a 50 day moving average price of $108.49 and a 200 day moving average price of $102.59. The firm has a market capitalization of $8.50 billion, a PE ratio of 12.83 and a beta of 0.77. PVH Corp. has a 1-year low of $64.16 and a 1-year high of $115.40.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Wednesday, November 23rd will be paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Monday, November 21st. PVH Corp.’s payout ratio is 1.82%.
In other PVH Corp. news, Director Mary Baglivo sold 2,280 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $110.26, for a total value of $251,392.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark D. Fischer sold 1,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $112.50, for a total transaction of $112,500.00. Following the completion of the sale, the executive vice president now directly owns 16,732 shares of the company’s stock, valued at approximately $1,882,350. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. increased its stake in shares of PVH Corp. by 8.2% in the second quarter. Pacer Advisors Inc. now owns 1,618 shares of the company’s stock valued at $152,000 after buying an additional 122 shares during the period. US Bancorp DE increased its stake in shares of PVH Corp. by 2.1% in the second quarter. US Bancorp DE now owns 6,479 shares of the company’s stock valued at $610,000 after buying an additional 133 shares during the period. Sei Investments Co. increased its stake in shares of PVH Corp. by 18.1% in the second quarter. Sei Investments Co. now owns 1,169 shares of the company’s stock valued at $110,000 after buying an additional 179 shares during the period. LPL Financial LLC increased its stake in shares of PVH Corp. by 6.1% in the third quarter. LPL Financial LLC now owns 3,116 shares of the company’s stock valued at $350,000 after buying an additional 180 shares during the period. Finally, Comerica Bank increased its stake in shares of PVH Corp. by 1.2% in the second quarter. Comerica Bank now owns 21,596 shares of the company’s stock valued at $2,086,000 after buying an additional 260 shares during the period. 94.59% of the stock is owned by institutional investors.
Several research analysts have recently weighed in on PVH shares. Guggenheim started coverage on shares of PVH Corp. in a report on Friday, September 30th. They set a “buy” rating and a $125.00 price objective on the stock. Piper Jaffray Cos. set a $124.00 price objective on shares of PVH Corp. and gave the stock a “buy” rating in a report on Friday, October 7th. Morgan Stanley reiterated a “hold” rating and set a $100.00 price objective on shares of PVH Corp. in a report on Thursday, August 25th. Wells Fargo & Co. started coverage on shares of PVH Corp. in a report on Monday, September 12th. They set an “outperform” rating and a $126.00 price objective on the stock. They noted that the move was a valuation call. Finally, Brean Capital reiterated a “buy” rating and set a $124.00 price objective (up from $122.00) on shares of PVH Corp. in a report on Monday, August 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $112.83.
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PVH Corp. Company Profile
PVH Corp. is an apparel company. The Company’s segments include Calvin Klein North America; Calvin Klein International; Tommy Hilfiger North America; Tommy Hilfiger International; Heritage Brands Wholesale, and Heritage Brands Retail. The Company’s brand portfolio consists of various brand names, including Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Warner’s, Olga and Eagle, which are owned, and Speedo, Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, Sean John, MICHAEL Michael Kors, Michael Kors Collection and Chaps, which are licensed, as well as various other licensed and private label brands.
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