Sound Shore Management Inc. CT Trims Holdings in PVH Corp. (NYSE:PVH)

Sound Shore Management Inc. CT lessened its stake in PVH Corp. (NYSE:PVH) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 911,857 shares of the textile maker’s stock after selling 37,709 shares during the period. PVH comprises about 3.2% of Sound Shore Management Inc. CT’s holdings, making the stock its 5th largest holding. Sound Shore Management Inc. CT owned approximately 1.63% of PVH worth $96,538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. New Covenant Trust Company N.A. bought a new position in shares of PVH during the first quarter valued at about $26,000. Headlands Technologies LLC purchased a new stake in PVH in the 1st quarter worth approximately $36,000. Riverview Trust Co bought a new stake in shares of PVH in the 1st quarter worth approximately $36,000. Daiwa Securities Group Inc. bought a new position in shares of PVH during the first quarter valued at approximately $42,000. Finally, Fidelis Capital Partners LLC purchased a new stake in PVH in the first quarter worth $52,000. 97.25% of the stock is currently owned by institutional investors.

PVH Price Performance

Shares of PVH opened at $97.13 on Friday. The company has a market capitalization of $5.42 billion, a P/E ratio of 8.60, a price-to-earnings-growth ratio of 0.74 and a beta of 2.12. PVH Corp. has a twelve month low of $69.27 and a twelve month high of $141.15. The company has a quick ratio of 0.66, a current ratio of 1.24 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $98.66 and a 200 day moving average of $110.70.

PVH (NYSE:PVH) last announced its quarterly earnings results on Tuesday, August 27th. The textile maker reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.72. PVH had a return on equity of 13.94% and a net margin of 8.37%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the prior year, the company posted $1.98 earnings per share. The company’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, equities research analysts anticipate that PVH Corp. will post 11.59 earnings per share for the current fiscal year.

PVH Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.0375 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.15 annualized dividend and a dividend yield of 0.15%. PVH’s payout ratio is 1.33%.

Analysts Set New Price Targets

A number of research analysts have issued reports on PVH shares. TD Cowen reduced their price objective on shares of PVH from $149.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Evercore ISI raised their price objective on shares of PVH from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, June 3rd. Wells Fargo & Company cut their price objective on PVH from $145.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. BMO Capital Markets lowered their target price on PVH from $119.00 to $106.00 and set a “market perform” rating for the company in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group reduced their price target on PVH from $144.00 to $124.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $130.40.

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.