Meeder Asset Management Inc. Buys Shares of 6,278 PVH Corp. (NYSE:PVH)

Meeder Asset Management Inc. acquired a new position in shares of PVH Corp. (NYSE:PVH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,278 shares of the textile maker’s stock, valued at approximately $665,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New Covenant Trust Company N.A. purchased a new position in shares of PVH during the first quarter worth about $26,000. Global Retirement Partners LLC grew its holdings in shares of PVH by 93.5% during the first quarter. Global Retirement Partners LLC now owns 238 shares of the textile maker’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. Riverview Trust Co purchased a new position in shares of PVH during the first quarter worth about $36,000. Headlands Technologies LLC purchased a new position in shares of PVH during the first quarter worth about $36,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of PVH during the first quarter worth about $42,000. Hedge funds and other institutional investors own 97.25% of the company’s stock.

PVH Stock Performance

Shares of PVH stock opened at $94.72 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 1.24. PVH Corp. has a fifty-two week low of $69.27 and a fifty-two week high of $141.15. The stock has a 50 day moving average price of $99.51 and a two-hundred day moving average price of $111.83. The company has a market capitalization of $5.29 billion, a P/E ratio of 8.38, a PEG ratio of 0.71 and a beta of 2.12.

PVH (NYSE:PVH) last announced its 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. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.07 billion. PVH had a return on equity of 13.94% and a net margin of 8.37%. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.98 earnings per share. Analysts expect that PVH Corp. will post 11.59 earnings per share for the current year.

PVH Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors 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 dividend on an annualized basis and a dividend yield of 0.16%. PVH’s dividend payout ratio is presently 1.33%.

Analyst Ratings Changes

Several research analysts have recently commented on PVH shares. TD Cowen cut their price objective on PVH from $149.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Bank of America cut their target price on PVH from $133.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. BMO Capital Markets cut 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. Evercore ISI upped their target price on PVH from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, June 3rd. Finally, Telsey Advisory Group cut their target price on PVH from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.