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Ralph Lauren, Coach, PVH: 5 Apparel Stocks Hedge Funds Are Bullish On


– Number of Hedge Funds Having With Positions (as of June 30): 33

– Aggregate Value of Hedge Funds’ Holdings (as of June 30): $1.07 billion

Of the funds tracked by Insider Monkey, 33 were long PVH Corp (NYSE:PVH) at the end of the second quarter, holding $1.07 billion worth of the company’s stock. PVH shares have gained over 46% this year, ranking it as one of the top performing apparel stocks. The company reported second quarter EPS of $1.47, firmly above the consensus analyst estimate of $1.29, though revenue of $1.93 billion narrowly missed the consensus estimate of $1.94 billion. For the full-year, PVH Corp (NYSE:PVH) expects to earn between $6.55 and $6.65 per share, above the consensus mark of $6.54 even at the low-end of its guidance range.

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Coach Inc (NYSE:COH)

– Number of Hedge Funds With Long Positions (as of June 30): 36

– Aggregate Value of Hedge Funds’ Holdings (as of June 30): $577.16 million

At the end of the second quarter, 36 hedge funds tracked by Insider Monkey had amassed approximately $577.16 million worth of Coach Inc (NYSE:COH)’s stock, down from 37 funds with $656.87 million in holdings on March 31. Jefferies Group reiterated its ‘Buy’ rating on Coach’s shares last week, whereas Piper Jaffray analyst Erinn Murphy recently reiterated her ‘Overweight’ rating after reviewing the company’s pre-Fall 2016 line. Baird also reiterated an ‘Outperform’ rating recently, citing the company’s improving margins. Coach Inc (NYSE:COH) shares have gained 15% year-to-date. Dmitry Balyasny’s Balyasny Asset Management owns 2.19 million shares of the company as of June 30.

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Carter’s, Inc. (NYSE:CRI)

– Number of Hedge Funds With Long Positions (as of June 30): 38

– Aggregate Value of Hedge Funds’ Holdings (as of June 30): $1.32 billion

Carter’s, Inc. (NYSE:CRI) was in the portfolios of 38 of the hedge funds in our database at the end of the second quarter, down from 42 a quarter earlier. The apparel company earned $0.72 per share in the second quarter, beating the forecasts of $0.66 per share, while revenue of $639 million also surpassed expectations of $636.86 million. However, Carter’s, Inc. (NYSE:CRI) revised its full-year sales growth guidance to 5%-to-6% from its previously stated figure of 6%-to-7%, while cutting back on its adjusted diluted EPS growth guidance to 10% from 10%-to-12%. Last month, Monness, Crespi, Hardt & Co upgraded Carter’s to ‘Buy’ from ‘Neutral’ and has a price target of $118.00 on it, over $22 above the stock’s current price.

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Disclosure: None

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