Bank of New York Mellon Corp Decreases Holdings in PVH Corp. (NYSE:PVH)

Bank of New York Mellon Corp cut its position in shares of PVH Corp. (NYSE:PVH - Free Report) by 41.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 449,951 shares of the textile maker's stock after selling 324,059 shares during the period. Bank of New York Mellon Corp owned about 0.85% of PVH worth $29,085,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue boosted its stake in PVH by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 6,517 shares of the textile maker's stock worth $421,000 after purchasing an additional 149 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of PVH by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 24,386 shares of the textile maker's stock worth $2,579,000 after acquiring an additional 150 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of PVH by 0.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 30,711 shares of the textile maker's stock worth $3,248,000 after acquiring an additional 152 shares in the last quarter. Signaturefd LLC increased its holdings in shares of PVH by 11.0% in the fourth quarter. Signaturefd LLC now owns 1,569 shares of the textile maker's stock worth $166,000 after acquiring an additional 156 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of PVH by 8.9% during the first quarter. Parallel Advisors LLC now owns 1,973 shares of the textile maker's stock worth $128,000 after buying an additional 162 shares in the last quarter. 97.25% of the stock is currently owned by institutional investors.

PVH Stock Up 0.3%

PVH stock traded up $0.24 during trading on Thursday, reaching $71.65. 783,654 shares of the stock were exchanged, compared to its average volume of 1,151,473. The company has a current ratio of 1.11, a quick ratio of 0.53 and a debt-to-equity ratio of 0.37. The firm's 50 day moving average is $73.97 and its 200 day moving average is $76.95. The firm has a market cap of $3.44 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.81. PVH Corp. has a twelve month low of $59.28 and a twelve month high of $113.47.

PVH (NYSE:PVH - Get Free Report) last released its earnings results on Wednesday, June 4th. The textile maker reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.06. The company 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% on a year-over-year basis. During the same period in the prior year, the company posted $2.45 earnings per share. As a group, research analysts forecast that PVH Corp. will post 11.67 EPS for the current year.

PVH Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were issued a $0.0375 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.15 annualized dividend and a dividend yield of 0.21%. PVH's dividend payout ratio is currently 2.12%.

Insider Activity

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

Analysts Set New Price Targets

PVH has been the subject of several recent research reports. Wall Street Zen raised PVH from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Bank of America lowered their price objective on PVH from $86.00 to $76.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. Cowen reiterated a "buy" rating on shares of PVH in a research note on Friday, June 6th. Wells Fargo & Company cut their price objective on PVH from $100.00 to $80.00 and set an "equal weight" rating on the stock in a report on Thursday, June 5th. Finally, Citigroup reissued a "neutral" rating and set a $68.00 price objective (down previously from $83.00) on shares of PVH in a report on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, PVH has an average rating of "Moderate Buy" and an average target price of $94.20.

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.