Magnetar Financial LLC Buys Shares of 7,288 PVH Corp. (NYSE:PVH)

Magnetar Financial LLC bought a new stake in shares of PVH Corp. (NYSE:PVH) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 7,288 shares of the textile maker’s stock, valued at approximately $1,025,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of PVH by 2,600.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 270 shares of the textile maker’s stock valued at $33,000 after buying an additional 260 shares in the last quarter. Global Retirement Partners LLC boosted its stake in PVH by 93.5% in the 1st quarter. Global Retirement Partners LLC now owns 238 shares of the textile maker’s stock worth $33,000 after purchasing an additional 115 shares during the period. Riverview Trust Co acquired a new position in PVH in the 1st quarter worth $36,000. Headlands Technologies LLC acquired a new position in PVH in the 1st quarter worth $36,000. Finally, GAMMA Investing LLC acquired a new position in PVH in the 4th quarter worth $38,000. Institutional investors own 97.25% of the company’s stock.

PVH Trading Up 3.0 %

Shares of NYSE:PVH traded up $2.94 during mid-day trading on Friday, reaching $100.05. 537,936 shares of the company’s stock were exchanged, compared to its average volume of 832,051. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 0.78 and a beta of 2.14. The business’s fifty day moving average price is $110.47 and its 200-day moving average price is $118.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 1.55. PVH Corp. has a twelve month low of $69.27 and a twelve month high of $141.15.

PVH (NYSE:PVH) last released its earnings results on Tuesday, June 4th. The textile maker reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.31. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.93 billion. PVH had a net margin of 7.53% and a return on equity of 13.14%. PVH’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.14 earnings per share. On average, research analysts predict that PVH Corp. will post 11.23 EPS for the current fiscal year.

PVH declared that its Board of Directors has authorized a stock repurchase plan on Monday, April 1st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the textile maker to reacquire up to 24% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

PVH Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th were issued a dividend of $0.0375 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.15 annualized dividend and a dividend yield of 0.15%. PVH’s dividend payout ratio is currently 1.33%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PVH. Morgan Stanley increased their price objective on shares of PVH from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 6th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $140.00 target price on shares of PVH in a report on Thursday, June 6th. Barclays upped their target price on shares of PVH from $149.00 to $154.00 and gave the company an “overweight” rating in a report on Thursday, June 6th. TD Cowen dropped their target price on shares of PVH from $154.00 to $149.00 and set a “buy” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on shares of PVH from $146.00 to $157.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PVH currently has an average rating of “Moderate Buy” and a consensus target price of $133.50.

PVH Company 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.