Mirae Asset Global Investments Co. Ltd. Buys Shares of 666 PVH Corp. (NYSE:PVH)

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of PVH Corp. (NYSE:PVH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 666 shares of the textile maker’s stock, valued at approximately $67,000.

A number of other hedge funds have also added to or reduced their stakes in PVH. Altshuler Shaham Ltd purchased a new stake in PVH during the 2nd quarter valued at $25,000. New Covenant Trust Company N.A. purchased a new stake in shares of PVH in the 1st quarter worth $26,000. Headlands Technologies LLC purchased a new stake in shares of PVH in the 1st quarter worth $36,000. Daiwa Securities Group Inc. purchased a new stake in shares of PVH in the 1st quarter worth $42,000. Finally, ORG Partners LLC purchased a new stake in shares of PVH in the 2nd quarter worth $42,000. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

PVH Stock Down 0.4 %

PVH opened at $100.00 on Wednesday. The firm has a 50-day simple moving average of $96.99 and a two-hundred day simple moving average of $104.32. PVH Corp. has a 52 week low of $74.81 and a 52 week high of $141.15. The company has a market capitalization of $5.58 billion, a PE ratio of 7.94, a price-to-earnings-growth ratio of 0.89 and a beta of 2.11. The company has a quick ratio of 0.66, a current ratio of 1.24 and a debt-to-equity ratio of 0.32.

PVH (NYSE:PVH) last announced its quarterly earnings results on Tuesday, August 27th. The textile maker reported $3.01 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.72. PVH had a net margin of 8.37% and a return on equity of 13.94%. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the firm earned $1.98 EPS. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. Analysts forecast that PVH Corp. will post 11.65 earnings per share for the current fiscal year.

PVH Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend is Wednesday, November 27th. PVH’s payout ratio is 1.19%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Guggenheim reduced their price objective on PVH from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Morgan Stanley reduced their price objective on PVH from $120.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, September 6th. BMO Capital Markets dropped their target price on shares of PVH from $119.00 to $106.00 and set a “market perform” rating for the company in a report on Wednesday, August 28th. Barclays dropped their target price on shares of PVH from $154.00 to $142.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Finally, TD Cowen dropped their target price on shares of PVH from $149.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.53.

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.