Geode Capital Management LLC’s recent filing with the Securities and Exchange Commission indicates a 0.5% increase in its stake in PVH Corp. (NYSE:PVH). The investment management firm now owns an additional 4,786 shares of the textile maker’s stock, bringing their total to 904,275 shares. Based on this data, Geode Capital Management LLC has a 1.43% ownership stake worth $63,832,000 in PVH.
PVH recently released its quarterly earnings report on June 1st, revealing an EPS of $2.14 for the quarter which exceeded predicted estimates by $0.21 per share. A net margin of 2.24% and a return on equity of 11.83% were also recorded by the company during this time period. Although revenue for this quarter reached $2.16 billion which was higher than the estimated $2.13 billion, it is lower compared to revenue recorded during the same quarter last year which was at $1.94 per share.
The company is involved in designing and promoting various products such as dress shirts, neckwear, sportswear, jeans wear, intimate apparel, swimwear products as well as handbags and footwear through its subsidiaries including Tommy Hilfiger and Calvin Klein.
Geode Capital Management LLC improves its position within the field through strategic investments such as this one in PVH Corp., reflecting the increasing importance placed on market performance by investment management firms in optimizing their clients’ financial portfolios.
As we look towards the future of PVH Corp.’s development over upcoming months, sell-side analysts anticipate that their current fiscal year will yield a whopping ten EPS post-release – suggesting that potentially substantial returns could be expected for investors holding positions within PVH’s present income growth trajectory.
Overall today’s discussing signals lucrative growth opportunities for shareholders invested with PVH statement due to both bullish sentiment from sell-side analysts alongside Geode Capital Management LLC’s recent commitment to the company through its adjusted ownership of PVH Corp. shares.
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Institutional Investors Show Interest in PVH Corp for Growth Potential in Textile Industry
PVH Corp. is a leading textile maker that designs and markets a wide range of consumer products including dress shirts, sportswear, jeans wear, intimate apparel, swim products, handbags, footwear and other related items. With a market capitalization of $5.14 billion and holdings in Tommy Hilfiger, Calvin Klein and Heritage Brands segments, the company attracts intense interest from institutional investors.
Recently several financial firms such as Boothbay Fund Management LLC and Capital Fund Management S.A. have made significant investments in PVH Corp., buying stakes valued at around $368k and $1.08m respectively. Additionally, Arizona State Retirement System acquired 18,894 shares worth $1.33m in the last quarter alone. Crossmark Global Holdings Inc also raised its share in PVH by 22.3% during the fourth quarter.
Institutional investors are taking an increased interest in PVH due to its strong operational performance; however, stock prices have recently traded down slightly to $81.88 per share as of June 12th compared to its high of $94.51 over the last year.
Despite these fluctuations in pricing, PVH’s fifty-two week low of $43.49 underpins investor confidence given its potential for growth in the textlie industry through ongoing innovation across diverse product categories.
The company has a clear dividend policy with an annualized yield of 0.18%, reflecting a healthy payout ratio of 4:75%. Nevertheless, holding onto PVH stock remains an attractive proposition particularly given the high ratings by ten equities research analysts who rate it “hold” while six assign it a “buy” rating based on data available via Bloomberg.com
Investors with discerning criteria who desire exposure to leading companies within the thriving textile sector will continue monitoring future investments made by institutions into this promising firm until they are convinced comfortable with their personal exposure levels based on strategic objectives aligned with their portfolios.