Balyasny Asset Management Lowers stake in PVH Corp (PVH)

PVH Corp (PVH) : Balyasny Asset Management reduced its stake in PVH Corp by 29.79% during the most recent quarter end. The investment management company now holds a total of 1,014,139 shares of PVH Corp which is valued at $105,470,456 after selling 430,208 shares in PVH Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.PVH Corp makes up approximately 0.82% of Balyasny Asset Management’s portfolio.

Other Hedge Funds, Including , Walleye Trading added PVH to its portfolio by purchasing 2,284 company shares during the most recent quarter which is valued at $237,536. PVH Corp makes up approx 0.02% of Walleye Trading’s portfolio.Finemark National Bank Trust reduced its stake in PVH by selling 83 shares or 11.42% in the most recent quarter. The Hedge Fund company now holds 644 shares of PVH which is valued at $66,364. PVH Corp makes up approx 0.01% of Finemark National Bank Trust’s portfolio.Utah Retirement Systems reduced its stake in PVH by selling 100 shares or 0.68% in the most recent quarter. The Hedge Fund company now holds 14,681 shares of PVH which is valued at $1,404,825. PVH Corp makes up approx 0.04% of Utah Retirement Systems’s portfolio.State Of New Jersey Common Pension Fund D reduced its stake in PVH by selling 5,000 shares or 12.99% in the most recent quarter. The Hedge Fund company now holds 33,500 shares of PVH which is valued at $3,205,615. PVH Corp makes up approx 0.01% of State Of New Jersey Common Pension Fund D’s portfolio.New York State Teachers Retirement System reduced its stake in PVH by selling 185 shares or 0.12% in the most recent quarter. The Hedge Fund company now holds 151,814 shares of PVH which is valued at $15,151,037. PVH Corp makes up approx 0.04% of New York State Teachers Retirement System’s portfolio.

PVH Corp opened for trading at $107.84 and hit $108.81 on the upside on Thursday, eventually ending the session at $108.18, with a gain of 0.39% or 0.42 points. The heightened volatility saw the trading volume jump to 7,50,109 shares. Company has a market cap of $8,747 M.

On the company’s financial health, PVH Corp reported $1.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Aug 24, 2016. Analyst had a consensus of $1.29. The company had revenue of $1933.00 million for the quarter, compared to analysts expectations of $1935.85 million. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 EPS.

Many Wall Street Analysts have commented on PVH Corp. Company shares were Reiterated by Telsey Advisory Group on Aug 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 125 from a previous price target of $113 .Company shares were Reiterated by Deutsche Bank on Aug 16, 2016 to “Buy”, Firm has raised the Price Target to $ 117 from a previous price target of $110 .

PVH Corp. is an apparel company. The Company’s brand portfolio consists Calvin Klein and Tommy Hilfiger Van Heusen IZOD ARROW Warner’s Olga and Eagle which are owned brands and Speedo Geoffrey Beene Kenneth Cole New York Kenneth Cole Reaction Sean John MICHAEL Michael Kors Michael Kors Collection Chaps Donald J. Trump Signature Collection DKNY Nautica Ted Baker J. Garcia Claiborne Ike Behar Jones New York and Ryan Seacrest which are licensed as well as various other licensed and private label brands. It designs and markets branded dress shirts neckwear sportswear jeanswear intimate apparel swim products and to a lesser extent handbags footwear and other related products. It manages its operations through its operating divisions which are presented as six segments: Calvin Klein North America; Calvin Klein International; Tommy Hilfiger North America; Tommy Hilfiger International; Heritage Brands Wholesale and Heritage Brands Retail.

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