Vanguard Group Inc. Trims Stock Holdings in PVH Corp. (NYSE:PVH)

Vanguard Group Inc. lessened its stake in shares of PVH Corp. (NYSE:PVH) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,123,515 shares of the textile maker’s stock after selling 301,515 shares during the quarter. Vanguard Group Inc. owned 10.27% of PVH worth $747,804,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its position in shares of PVH by 2,600.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 270 shares of the textile maker’s stock worth $33,000 after purchasing an additional 260 shares during the period. GAMMA Investing LLC purchased a new position in shares of PVH during the fourth quarter worth $38,000. Lindbrook Capital LLC grew its stake in shares of PVH by 26.8% in the fourth quarter. Lindbrook Capital LLC now owns 521 shares of the textile maker’s stock valued at $64,000 after buying an additional 110 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of PVH by 15.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 810 shares of the textile maker’s stock valued at $99,000 after buying an additional 110 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in PVH by 12.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,036 shares of the textile maker’s stock worth $127,000 after acquiring an additional 115 shares in the last quarter. 97.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PVH. BMO Capital Markets boosted their price target on shares of PVH from $110.00 to $119.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 5th. StockNews.com upgraded shares of PVH from a “buy” rating to a “strong-buy” rating in a report on Friday. Barclays boosted their price target on shares of PVH from $149.00 to $154.00 and gave the stock an “overweight” rating in a research note on Thursday, June 6th. Wells Fargo & Company increased their price objective on PVH from $138.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, June 6th. Finally, JPMorgan Chase & Co. boosted their target price on PVH from $146.00 to $157.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PVH currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.81.

PVH Stock Up 2.2 %

PVH stock opened at $114.43 on Friday. The stock has a market cap of $6.39 billion, a P/E ratio of 10.13, a PEG ratio of 0.87 and a beta of 2.15. The company has a current ratio of 1.55, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. PVH Corp. has a twelve month low of $69.27 and a twelve month high of $141.15. The company’s 50 day moving average is $113.90 and its two-hundred day moving average is $120.51.

PVH (NYSE:PVH) last announced its quarterly earnings results on Tuesday, June 4th. The textile maker reported $2.45 EPS for the quarter, topping the consensus estimate of $2.14 by $0.31. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.93 billion. PVH had a net margin of 7.53% and a return on equity of 13.14%. PVH’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period last year, the business earned $2.14 EPS. Research analysts expect that PVH Corp. will post 11.26 earnings per share for the current fiscal year.

PVH Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Wednesday, June 5th. PVH’s payout ratio is currently 1.33%.

PVH declared that its Board of Directors has authorized a stock repurchase plan on Monday, April 1st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the textile maker to purchase up to 24% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at PVH

In related news, EVP James Holmes sold 3,000 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $108.39, for a total transaction of $325,170.00. Following the completion of the sale, the executive vice president now owns 13,904 shares in the company, valued at approximately $1,507,054.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

PVH Profile

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, and Heritage Brands Wholesale segments. It designs and markets men's, women's, and children's branded apparel, footwear and accessories, underwear, sleepwear, outerwear, home furnishings, luggage, dresses, suits and swimwear, activewear, sportswear, socks and accessories, outerwear, golf products, footwear, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, jeans wear, performance apparel, intimate apparel, dress shirts, handbags, fragrance, small leather goods, and other related products; and men's and boy's tailored clothing products, duvets, pillows, mattress pads and toppers, and feather beds.