PVH Corp (NYSE:PVH) Short Interest Update
PVH Corp (NYSE:PVH) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 3,120,700 shares, an increase of 49.8% from the May 30th total of 2,082,600 shares. Based on an average trading volume of 1,280,000 shares, the short-interest ratio is presently 2.4 days. Approximately 4.1% of the company’s stock are sold short.
Several analysts have recently issued reports on the company. Zacks Investment Research cut First Merchants from a “hold” rating to a “sell” rating in a research note on Monday, July 1st. Nomura dropped their target price on GAP from $22.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. UBS Group dropped their target price on PVH from $159.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. TheStreet lowered Virtusa from a “b-” rating to a “c+” rating in a report on Wednesday, May 29th. Finally, JPMorgan Chase & Co. raised China Life Insurance from a “neutral” rating to an “overweight” rating in a report on Thursday, May 30th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $127.84.
Shares of PVH stock traded up $1.82 during mid-day trading on Friday, hitting $90.06. 25,148 shares of the stock were exchanged, compared to its average volume of 1,110,360. The firm’s fifty day moving average price is $92.53. The company has a market capitalization of $6.55 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 0.71 and a beta of 1.41. PVH has a 12-month low of $82.51 and a 12-month high of $159.84. The company has a quick ratio of 0.75, a current ratio of 1.47 and a debt-to-equity ratio of 0.74.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were given a $0.0375 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $0.15 dividend on an annualized basis and a yield of 0.17%. PVH’s payout ratio is currently 1.56%.
PVH announced that its Board of Directors has approved a share buyback plan on Wednesday, March 27th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the textile maker to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Henry Nasella acquired 1,200 shares of PVH stock in a transaction dated Friday, May 31st. The shares were acquired at an average cost of $82.84 per share, for a total transaction of $99,408.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Dana Perlman sold 1,054 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $128.92, for a total value of $135,881.68. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Valeo Financial Advisors LLC lifted its position in PVH by 2,000.0% in the second quarter. Valeo Financial Advisors LLC now owns 315 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 300 shares during the period. Ropes Wealth Advisors LLC acquired a new stake in PVH in the first quarter valued at about $40,000. CSat Investment Advisory L.P. lifted its position in PVH by 146.7% in the fourth quarter. CSat Investment Advisory L.P. now owns 375 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 223 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in PVH by 17.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 817 shares of the textile maker’s stock valued at $100,000 after purchasing an additional 123 shares during the period. Finally, Quantamental Technologies LLC lifted its position in shares of PVH by 196.7% during the 1st quarter. Quantamental Technologies LLC now owns 899 shares of the textile maker’s stock valued at $110,000 after acquiring an additional 596 shares during the period. Hedge funds and other institutional investors own 94.98% of the company’s stock.
PVH Company Profile
PVH Corp. operates as an apparel company in North America and internationally. The company operates through six segments: Calvin Klein North America, Calvin Klein International, Tommy Hilfiger North America, Tommy Hilfiger International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's and women's apparel and accessories, including branded dress shirts, dresses, suits, neckwear, sportswear, jeans wear, performance and intimate apparel, underwear, swimwear, swim products, handbags, luggage products, footwear, golf apparel, sleepwear and loungewear, fragrances, cosmetics, skincare products and toiletries, socks and tights, jewelry, watches, outerwear, small leather goods, and furnishings, as well as other related products.
Further Reading: Liquidity
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