7,382 Shares in PVH Corp. (NYSE:PVH) Purchased by CCM Investment Group LLC

Key Points

• CCM Investment Group LLC has acquired 7,382 shares of PVH Corp, valued at approximately $478,000, indicating growing institutional interest in the company.
• Several analysts recently revised their price targets for PVH, with Bank of America decreasing its target to $76.00, while Jefferies raised theirs to $105.00, suggesting a mixed outlook on the stock.
• The company's latest quarterly earnings report highlighted a 1.6% revenue increase year-over-year, with earnings per share at $2.30, surpassing analysts' estimates.

CCM Investment Group LLC purchased a new stake in shares of PVH Corp. (NYSE:PVH - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,382 shares of the textile maker's stock, valued at approximately $478,000.

A number of other hedge funds also recently made changes to their positions in PVH. Wells Fargo & Company MN raised its stake in shares of PVH by 62.2% during the fourth quarter. Wells Fargo & Company MN now owns 27,180 shares of the textile maker's stock valued at $2,874,000 after purchasing an additional 10,424 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of PVH by 0.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 30,711 shares of the textile maker's stock valued at $3,248,000 after purchasing an additional 152 shares during the period. Cerity Partners LLC raised its stake in shares of PVH by 122.5% during the fourth quarter. Cerity Partners LLC now owns 8,342 shares of the textile maker's stock valued at $868,000 after purchasing an additional 4,592 shares during the period. Invesco Ltd. raised its stake in shares of PVH by 14.1% during the fourth quarter. Invesco Ltd. now owns 294,189 shares of the textile maker's stock valued at $31,111,000 after purchasing an additional 36,395 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of PVH during the fourth quarter valued at approximately $4,923,000. Hedge funds and other institutional investors own 97.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PVH. Bank of America dropped their price objective on shares of PVH from $86.00 to $76.00 and set a "neutral" rating on the stock in a research note on Friday, June 6th. JPMorgan Chase & Co. lifted their price target on shares of PVH from $76.00 to $87.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. BMO Capital Markets dropped their price target on shares of PVH from $93.00 to $84.00 and set a "market perform" rating for the company in a research note on Thursday, June 5th. Barclays dropped their price target on shares of PVH from $87.00 to $83.00 and set an "overweight" rating for the company in a research note on Monday, June 9th. Finally, Morgan Stanley dropped their price target on shares of PVH from $86.00 to $64.00 and set an "equal weight" rating for the company in a research note on Friday, June 6th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $93.40.

Insider Buying and Selling at PVH

In other news, CEO Stefan Larsson purchased 15,645 shares of PVH stock in a transaction dated Thursday, June 26th. The stock was bought at an average price of $63.92 per share, with a total value of $1,000,028.40. Following the completion of the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jesper Andersen purchased 600 shares of PVH stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average cost of $66.10 per share, with a total value of $39,660.00. Following the acquisition, the director owned 736 shares of the company's stock, valued at approximately $48,649.60. This trade represents a 441.18% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.20% of the company's stock.

PVH Stock Performance

PVH stock traded up $0.67 during trading on Friday, hitting $76.78. 262,882 shares of the company's stock traded hands, compared to its average volume of 1,413,380. The company has a quick ratio of 0.53, a current ratio of 1.11 and a debt-to-equity ratio of 0.37. PVH Corp. has a 52 week low of $59.28 and a 52 week high of $113.47. The stock has a fifty day moving average price of $70.79 and a two-hundred day moving average price of $73.33. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 1.59 and a beta of 1.84.

PVH (NYSE:PVH - Get Free Report) last released its earnings results on Wednesday, June 4th. The textile maker reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.06. PVH had a net margin of 4.63% and a return on equity of 12.66%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the firm earned $2.45 earnings per share. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that PVH Corp. will post 11.67 EPS for the current fiscal year.

PVH Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.0375 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.15 annualized dividend and a dividend yield of 0.2%. PVH's payout ratio is 2.12%.

About PVH

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.