Clearline Capital LP Takes Position in PVH Corp (PVH)

Clearline Capital LP bought a new stake in shares of PVH Corp (NYSE:PVH) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,954 shares of the textile maker’s stock, valued at approximately $2,375,000. PVH Corp comprises 1.1% of Clearline Capital LP’s portfolio, making the stock its 29th largest position.

Other large investors also recently made changes to their positions in the company. Amtrust Financial Services Inc. bought a new position in shares of PVH Corp during the fourth quarter worth about $271,000. FMR LLC increased its stake in PVH Corp by 1.9% in the fourth quarter. FMR LLC now owns 4,135,023 shares of the textile maker’s stock worth $373,145,000 after buying an additional 77,937 shares in the last quarter. Martingale Asset Management L P increased its stake in PVH Corp by 26.9% in the fourth quarter. Martingale Asset Management L P now owns 106,657 shares of the textile maker’s stock worth $9,625,000 after buying an additional 22,598 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in PVH Corp by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 934,420 shares of the textile maker’s stock worth $84,328,000 after buying an additional 21,781 shares in the last quarter. Finally, State Street Corp increased its stake in PVH Corp by 10.2% in the fourth quarter. State Street Corp now owns 3,611,504 shares of the textile maker’s stock worth $325,897,000 after buying an additional 334,594 shares in the last quarter. Institutional investors and hedge funds own 96.69% of the company’s stock.

Institutional Ownership by Quarter for PVH Corp (NYSE:PVH)

PVH Corp (NYSE PVH) traded up 0.56% during mid-day trading on Monday, hitting $105.72. The company had a trading volume of 611,582 shares. PVH Corp has a 52-week low of $83.80 and a 52-week high of $115.40. The company has a market capitalization of $8.23 billion, a P/E ratio of 21.86 and a beta of 0.47. The company has a 50-day moving average price of $103.02 and a 200 day moving average price of $97.38.

PVH Corp (NYSE:PVH) last issued its quarterly earnings data on Wednesday, May 24th. The textile maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.05. PVH Corp had a return on equity of 5.83% and a net margin of 3.52%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm posted $1.50 earnings per share. PVH Corp’s revenue was up 3.7% on a year-over-year basis. On average, analysts forecast that PVH Corp will post $7.50 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Thursday, May 18th will be issued a $0.038 dividend. The ex-dividend date of this dividend is Tuesday, May 16th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. PVH Corp’s dividend payout ratio (DPR) is 3.11%.

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PVH has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of PVH Corp from a “sell” rating to a “hold” rating in a research note on Monday, March 27th. Credit Suisse Group set a $121.00 price objective on shares of PVH Corp and gave the stock a “hold” rating in a research note on Monday, March 20th. Wunderlich reiterated a “buy” rating and issued a $125.00 price objective on shares of PVH Corp in a research note on Saturday, March 25th. Citigroup Inc. upgraded shares of PVH Corp from a “neutral” rating to a “buy” rating and set a $115.00 price objective on the stock in a research note on Friday, March 24th. Finally, Piper Jaffray Companies set a $112.00 target price on shares of PVH Corp and gave the stock a “buy” rating in a report on Thursday, March 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $121.44.

In other news, CEO Daniel Grieder sold 18,701 shares of PVH Corp stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.43, for a total value of $1,934,244.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven B. Shiffman sold 2,200 shares of PVH Corp stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $105.82, for a total value of $232,804.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,034 shares of company stock valued at $3,125,205. Insiders own 1.50% of the company’s stock.

PVH Corp Company Profile

PVH Corp. is an apparel company. The Company operates through three segments: Calvin Klein, which consists of the Calvin Klein North America and Calvin Klein International segments; Tommy Hilfiger, which consists of the Tommy Hilfiger North America and Tommy Hilfiger International segments, and Heritage Brands, which consists of the Heritage Brands Wholesale and Heritage Brands Retail segments.

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