PVH Corp (NYSE:PVH) Short Interest Down 6.1% in October

PVH Corp (NYSE:PVH) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 2,290,000 shares, a drop of 6.1% from the September 30th total of 2,440,000 shares. Based on an average trading volume of 1,280,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 3.1% of the shares of the stock are sold short.

PVH stock traded down $0.90 during trading hours on Tuesday, reaching $98.91. The company had a trading volume of 251,286 shares, compared to its average volume of 864,039. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.40 and a quick ratio of 0.63. The company has a 50-day moving average price of $90.43 and a 200 day moving average price of $90.66. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 1.03 and a beta of 1.49. PVH has a 12-month low of $67.41 and a 12-month high of $134.24.

PVH (NYSE:PVH) last announced its quarterly earnings results on Wednesday, August 28th. The textile maker reported $2.10 EPS for the quarter, topping the Zacks’ consensus estimate of $1.89 by $0.21. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.33 billion. PVH had a return on equity of 12.64% and a net margin of 6.96%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.18 EPS. As a group, research analysts expect that PVH will post 9.4 earnings per share for the current year.

In other PVH news, Director Henry Nasella purchased 6,250 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average price of $80.37 per share, for a total transaction of $502,312.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Emanuel Chirico purchased 133,155 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $74.99 per share, with a total value of $9,985,293.45. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

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A number of institutional investors have recently made changes to their positions in the business. Investec Asset Management LTD bought a new position in shares of PVH during the second quarter valued at $101,571,000. Pzena Investment Management LLC increased its position in PVH by 54.3% in the second quarter. Pzena Investment Management LLC now owns 3,001,404 shares of the textile maker’s stock worth $284,053,000 after buying an additional 1,055,649 shares in the last quarter. Bank of New York Mellon Corp increased its position in PVH by 75.7% in the second quarter. Bank of New York Mellon Corp now owns 1,455,221 shares of the textile maker’s stock worth $137,721,000 after buying an additional 627,188 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in PVH by 78.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 879,404 shares of the textile maker’s stock worth $77,590,000 after buying an additional 386,483 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in PVH by 7.2% in the second quarter. JPMorgan Chase & Co. now owns 5,681,044 shares of the textile maker’s stock worth $529,929,000 after buying an additional 383,485 shares in the last quarter. 96.31% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on the company. Bank of America dropped their price target on PVH from $115.00 to $93.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Zacks Investment Research downgraded PVH from a “hold” rating to a “sell” rating and set a $95.00 target price for the company. in a research report on Monday, November 4th. Guggenheim restated a “buy” rating and issued a $125.00 target price on shares of PVH in a research report on Tuesday. ValuEngine downgraded PVH from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada set a $95.00 target price on PVH and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $105.20.

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.

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