Insider Trading Tue 12/31/24

Notable purchases -- Buffett adds to VRSN; notable sales -- CFO active in TOL

Buyers

• GCT Director / Head of BaaS Program bought 5,000 Class A Ordinary Shares at $17.50 worth approximately $88K.
• MCFT 10% owner Coliseum Capital bought 189,945 shares at $17.99 - $19.05 worth approximately $3.5 mln.
• QIPT Exec VP Operations bought 17,000 shares at $2.41 - $2.47 worth approximately $42K.
• PBF 10% owner Control Empresarial de Capitales S.A. de C.V. bought another 70,000 shares worth about $1.8 mln.
• VRSN 10% owner Warren Buffett's Berkshire Hathaway (BRK.A / BRK.B) bought 76,487 shares at $201.12 - $206.11 worth approx. $15.6 mln.

Sellers

• IBEX Director sold 11,199 shares at $21.95 - $21.96 worth approximately $246K.
• PVH EVP, General Counsel & Secretary sold 3,186 shares at $105.50 worth approximately $336K.
• RCAT Directors (2) sold 130,000 shares at $12.25 - $14.24 worth approximately $1.8 mln.
• TOL Chief Financial Officer sold 11,140 shares at $125.77 - $126.30 worth approximately $1.4 mln.

PVH (PVH) reported earnings on Wed 27 March 19 (a/h)

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PVH beats by $0.08, beats on revs; guides AprQ EPS in-line, revs above consensus; guides FY19 EPS in-line, revs above consensus; announces $750 mln increase in share buyback authorization 

• Reports Q4 (Jan) earnings of $1.84 per share, excluding non-recurring items, $0.08 better than the S&P Capital IQ Consensus of $1.76; revenues fell 0.6% year/year to $2.48 bln vs the $2.41 bln S&P Capital IQ Consensus.
• Co issues guidance for Q1 (Apr), sees EPS of $2.40-2.45, excluding non-recurring items, vs. $2.42 S&P Capital IQ Consensus; sees Q1 rev growth of +2%, which we compute as approx $2.36 bln vs. $2.31 bln S&P Capital IQ Consensus.
• Co issues guidance for FY19, sees EPS of $10.30-10.40, excluding non-recurring items, vs. $10.33 S&P Capital IQ Consensus; sees FY19 rev growth of +4%, which we compute as approx $10.04 bln vs. $9.88 bln S&P Capital IQ Consensus.
  • Guidance by segment: Revenue for the Tommy Hilfiger business is projected to increase approximately 6%; Calvin Klein +2% and Heritage Brands +3%.
• Co also authorizes a $750 mln increase and extension to June 2023 of the company's stock repurchase program.

Earnings this week : March 25 - 29, 19 (wk 13)

Earnings confirmed for next week

Monday (March 25)

• Morning: CMCM WGO YRD
• Afternoon: RHT

Tuesday (March 26)

• Morning: CCL CONN CRON FDS INFO MKC NEOG
• Afternoon: KBH OLLI SCVL

Wednesday (March 27)

• Morning: HOME LEN OMN PAYX SCWX TITN UNF VRNT
• Afternoon: FIVE FUL LULU PVH SNX VRNT

Thursday (March 28)

• Morning:  ACN MOV QIWI RUBY SPWH
• Afternoon: OXM PRGS RH SAIC SGH 

Friday (March 29)

• Morning: BB  KMX

Notable earnings reports: MediWound (NASDAQ:MDWD), Red Hat (NYSE:RHT), Winnebago, (NYSE:WGO), Yirendai (NYSE:YRD) and FalconStor Software (OTC:FALC) on March 25;

Neogen (NASDAQ:NEOG), PhaseBio Pharmaceuticals (NASDAQ:PHAS), IHS Markit (NASDAQ:INFO), Carnival (NYSE:CCL), Conn's (NASDAQ:CONN), McCormick & Co. (NYSE:MKC), Ollie's Bargain Outlet Holdings (NASDAQ:OLLI), Shoe Carnival (NASDAQ:SCVL), KB Home (NYSE:KBH) and Orion Group Holdings (NYSE:ORN) on March 26;

Affimed (NASDAQ:AFMD), Osmotica Pharmaceuticals (NASDAQ:OSMT), electroCore (NASDAQ:ECOR), Fuller (NYSE:FUL), Bassett Furniture Holdings (NASDAQ:BSET), At Home Group (NYSE:HOME), UniFirst (NYSE:UNF), Five Below (NASDAQ:FIVE), Lululemon (NASDAQ:LULU), PVH, RumbleON (NASDAQ:RMBL), Lennar (NYSE:LEN), Paychex (NASDAQ:PAYX), Weidai (NYSE:WEI), SecureWorks (NASDAQ:SCWX), Synnex (NYSE:SNX), Verint (NASDAQ:VRNT), Arcos Dorados Holdings (NYSE:ARCO) and Evine Live (NASDAQ:EVLV) on March 27;

Forty Seven (NASDAQ:FTSV), Rubius Therapeutics (NASDAQ:RUBY), Tricida (NASDAQ:TCDA), Unum Therapeutics (NASDAQ:UMRX), Vascular Biogenics (NASDAQ:VBLT), Accenture (NYSE:ACN), Progress Software (NASDAQ:PRGS), SAIC, Smart Global Holdings (NASDAQ:SGH), China Automotive Systems (NASDAQ:CAAS), Dollarama (OTC:DLMAF), MAV Beauty Brands (OTCPK:MAVBF), Movado Group (NYSE:MOV), Sportsman's Warehouse (NASDAQ:SPWH), Oxford Industries (NYSE:OXM), Reed's (NYSEMKT:REED), RH, Qiwi (NASDAQ:QIWI), Syncora Holdings (OTCPK:SYCRF) and Gafisa (OTC:GFASY) on March 28.

BlackBerry (NYSE:BB) and CarMax (NYSE:KMX) on March 29.

PVH Corp. (PVH) reported earnings on Wed 24 May 2017 (a/h)

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** charts after earnings **

 

• PVH beats Street 1Q forecasts

NEW YORK (AP) _ PVH Corp. (PVH) on Wednesday reported fiscal first-quarter profit of $70.4 million.

The New York-based company said it had net income of 89 cents per share. Earnings, adjusted for non-recurring costs, were $1.65 per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.

The owner of the Calvin Klein and Tommy Hilfiger brands posted revenue of $1.99 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.96 billion.

For the current quarter ending in August, PVH expects its per-share earnings to range from $1.60 to $1.63. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.53.

The company expects full-year earnings in the range of $7.40 to $7.50 per share.

PVH shares have climbed 13 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 7 percent. In the final minutes of trading on Wednesday, shares hit $102.04, a rise of 15 percent in the last 12 months.

PVH (PVH) reported earnings Wed 25 May 2016 (a/h)

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** charts after earnings **

 

• One month after earnings:

PVH beats by $0.07, reports revs in-line; guides Q2 above consensus; raises FY17 above consensus  :

• Reports Q1 (Apr) earnings of $1.50 per share, excluding non-recurring items, $0.07 better thanthe Capital IQ Consensus of $1.43; revenues rose 2.1% year/year to $1.92 bln vs the $1.9 bln Capital IQ Consensus. 
• The Calvin Klein and Tommy Hilfiger businesses outperformed revenue expectations: Calvin Klein rev +13% ex-FX vs. +12% guidance; Tommy Hilfiger rev +4% ex-FX vs. +2% guidance.
  • "Our Calvin Klein and Tommy Hilfiger businesses were the highlight, with significant strength demonstrated by our international businesses. Outperformance in Europe and China further demonstrated the power of our brands in key markets and their ability to post growth against a challenging macroeconomic environment."
• Co issues upside guidance for Q2, sees EPS of $1.25-1.30, excluding non-recurring items, vs. $1.21 Capital IQ Consensus Estimate; sees Q2 revs of +4% to ~$1.94 bln vs. $1.88 bln Capital IQ Consensus; TH rev +7% ex-FX; CK +13% ex-FX.
• Co issues upside guidance for FY17, raises EPS to $6.45-6.55 from $6.30-6.50, excluding non-recurring items, vs. $6.46 Capital IQ Consensus; raises FY17 revs to +2% (from 1%) to ~$8.18 bln vs. $8.12 bln Capital IQ Consensus Estimate; TH rev +5% ex-FX; CK rev +5% ex-FX

PVH reported earnings on Wed 23 March 2016 (a/h)

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• Several more UP days after earnings; then a correction.

PVH beats by $0.06, beats on revs; guides Q1 EPS above consensus, revs in-line; guides FY17 EPS below consensus, revs in-line  :

• Reports Q4 (Jan) earnings of $1.52 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus of $1.46; revenues rose 2.1% year/year to $2.11 bln vs the $2.07 bln Capital IQ Consensus.
  • Calvin Klein rev +21% ex-FX vs. +15% guidance; Tommy Holfiger rev +5% ex-FX vs. +1% guidance.
• FY16 non-GAAP EPS $7.05 after co raised guidance to $7.00 from $6.90-7.00 on Feb 1.
• Co issues guidance for Q1, sees EPS of $1.40-1.45, excluding non-recurring items, vs. $1.33 Capital IQ Consensus Estimate; sees Q1 revs +1% to ~$1.90 bln (+3% ex-FX) vs. $1.89 bln Capital IQ Consensus; CK +12% ex-FX, TH +2% ex-FX.
• Co issues guidance for FY17, sees EPS of $6.30-6.50, excluding non-recurring items, vs. $6.61 Capital IQ Consensus Estimate; sees FY17 revs of +1% to ~$8.10 bln (+2% ex-FX) vs. $8.15 bln Capital IQ Consensus; CK +6% ex-FX, TH +3% ex-FX.
  • The Company currently expects its full year 2016 earnings per share results will be negatively impacted compared to 2015 by ~$1.60 per share attributable to foreign currency exchange rates due to the stronger U.S. dollar against other currencies in which the Company transacts significant levels of business. ~85% of the $1.60 per share negative impact is expected to be on a transactional basis and approximately 15% is expected to be due to currency translation

Long trade : PVH (3/16)

PVH Corp. (PVH) reported earnings Wed 2 Dec 2015 (a/h)

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PVH beats by $0.18, reports revs in-line; guides Q4 EPS below consensus, revs just below consensus :

• Reports Q3 (Oct) earnings of $2.66 per share, $0.18 better than the Capital IQ Consensus of $2.48; revenues fell 3.1% year/year to $2.16 bln vs the $2.16 bln Capital IQ Consensus.
• Co issues downside guidance for Q4, sees EPS of $1.37-1.47 vs. $1.60 Capital IQ Consensus Estimate; sees Q4 revs flat YoY (~$2.07 bln) vs. $2.09 bln Capital IQ Consensus with rev +5% ex-FX. Sees FY16 rev -3% from -2%.
  • It is currently projected that revenue for the Calvin Klein business in the fourth quarter will increase ~15% on a constant currency basis (increase ~10% on a GAAP basis), partially due to the benefit of the Chinese New Year, as the fourth quarter of 2015 includes the peak selling season before the Chinese New Year while the fourth quarter of 2014 did not. Revenue for the Tommy Hilfiger business in the fourth quarter is currently projected to increase ~1% on a constant currency basis (decrease ~5% on a GAAP basis). Revenue for the Heritage Brands business in the fourth quarter is currently projected to decrease ~4% on a GAAP basis due to the exit from the Izod retail business.

PVH — is it a buy?

• Oct 23: Is PVH a buy?

• 2 weeks later: no change

Warnaco Group (WRC) reported earnings Tue 7 Aug 2012

    

• Note 10/31/12: LONDON — The fashion company PVH Corporation agreed to acquire the Warnaco Group in a $2.9 billion deal, bringing various Calvin Klein brands under one corporate umbrella.
• Warnaco, which is based in New York and controls the Calvin Klein jeans and underwear licenses.
• The combined cash-and-stock deal is worth $68.43, a 34 percent premium on Warnaco’s closing share price on Friday. Trading in New York was closed on Monday and Tuesday because of Hurricane Sandy.

Shares of apparel maker Warnaco Group Inc. (WRC, $49.99, +$7.43, +17.46%) surged after second-quarter earnings fell less than analysts feared. "There were more than enough positive signs in terms of Europe, inventories, increased cost savings and a return of prominence for Calvin Klein denim," said Brean Murray analysts. Calvin Klein parent PVH Corp. (PVH, $83.48, +$4.62, +5.86%) is also up on the news. Warnaco is PVH's largest licensee, says C.L. King analyst Steven L. Marotta, so it's not uncommon for the stocks to be "somewhat tethered together directionally.

 ** weekly **