Bastion Asset Management Inc. Purchases Shares of 4,450 PVH Corp. (NYSE:PVH)

Key Points

• Bastion Asset Management Inc. has purchased 4,450 shares of PVH Corp. valued at approximately $303,000, reflecting increased institutional interest in the apparel company.
• PVH reported earnings per share (EPS) of $2.30, surpassing the consensus estimate by $0.06, alongside a revenue of $1.98 billion for the quarter.
• The company announced a quarterly dividend of $0.0375 per share, resulting in an annualized yield of 0.20% and a payout ratio of 2.12%.

Bastion Asset Management Inc. purchased a new stake in PVH Corp. (NYSE:PVH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,450 shares of the textile maker's stock, valued at approximately $303,000.

Several other large investors have also recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda bought a new stake in shares of PVH in the 4th quarter valued at approximately $47,000. Hoey Investments Inc. acquired a new stake in PVH in the 4th quarter valued at $55,000. Allworth Financial LP boosted its stake in PVH by 78.2% in the 1st quarter. Allworth Financial LP now owns 930 shares of the textile maker's stock valued at $60,000 after buying an additional 408 shares in the last quarter. GAMMA Investing LLC boosted its stake in PVH by 135.7% in the 1st quarter. GAMMA Investing LLC now owns 1,148 shares of the textile maker's stock valued at $74,000 after buying an additional 661 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in PVH by 9.7% in the 1st quarter. Central Pacific Bank Trust Division now owns 1,920 shares of the textile maker's stock valued at $124,000 after buying an additional 170 shares in the last quarter. Institutional investors and hedge funds own 97.25% of the company's stock.

PVH Stock Up 0.7%

NYSE:PVH opened at $76.76 on Friday. The stock's fifty day moving average price is $73.07 and its two-hundred day moving average price is $75.46. PVH Corp. has a 52-week low of $59.28 and a 52-week high of $113.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.53 and a current ratio of 1.11. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 1.57 and a beta of 1.81.

PVH (NYSE:PVH - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The textile maker reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.06. PVH had a return on equity of 12.66% and a net margin of 4.63%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the business earned $2.45 EPS. The business's revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts anticipate that PVH Corp. will post 11.67 EPS for the current year.

PVH Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend was Wednesday, June 4th. PVH's dividend payout ratio is 2.12%.

Insider Buying and Selling at PVH

In other PVH news, CEO Stefan Larsson bought 15,645 shares of the company's stock in a transaction on Thursday, June 26th. The stock was bought at an average price of $63.92 per share, for a total transaction of $1,000,028.40. Following the transaction, the chief executive officer owned 269,438 shares of the company's stock, valued at approximately $17,222,476.96. The trade was a 6.16% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jesper Andersen purchased 600 shares of PVH stock in a transaction dated Wednesday, June 11th. The stock was bought at an average price of $66.10 per share, for a total transaction of $39,660.00. Following the completion of the transaction, the director directly owned 736 shares in the company, valued at $48,649.60. The trade was a 441.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PVH shares. Bank of America decreased their price target on PVH from $86.00 to $76.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. Evercore ISI decreased their price target on PVH from $105.00 to $95.00 and set an "outperform" rating on the stock in a research note on Thursday, June 5th. UBS Group decreased their price target on PVH from $150.00 to $146.00 and set a "buy" rating on the stock in a research note on Friday, June 6th. Barclays reduced their target price on PVH from $87.00 to $83.00 and set an "overweight" rating on the stock in a report on Monday, June 9th. Finally, Jefferies Financial Group raised PVH from a "hold" rating to a "buy" rating and boosted their target price for the stock from $70.00 to $105.00 in a report on Wednesday, May 14th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, PVH presently has an average rating of "Moderate Buy" and a consensus price target of $94.20.

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.

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