Riverview Trust Co Takes $36,000 Position in PVH Corp. (NYSE:PVH)

Riverview Trust Co purchased a new stake in shares of PVH Corp. (NYSE:PVH) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 257 shares of the textile maker’s stock, valued at approximately $36,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PVH. Allspring Global Investments Holdings LLC raised its holdings in PVH by 2,600.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 270 shares of the textile maker’s stock worth $33,000 after acquiring an additional 260 shares during the period. GAMMA Investing LLC bought a new position in PVH in the 4th quarter worth $38,000. Lindbrook Capital LLC raised its holdings in PVH by 26.8% in the 4th quarter. Lindbrook Capital LLC now owns 521 shares of the textile maker’s stock worth $64,000 after acquiring an additional 110 shares during the period. Mather Group LLC. bought a new position in PVH in the 1st quarter worth $91,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in PVH by 15.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 810 shares of the textile maker’s stock worth $99,000 after acquiring an additional 110 shares during the period. Institutional investors own 97.25% of the company’s stock.

PVH Trading Down 1.4 %

Shares of PVH stock opened at $112.51 on Wednesday. PVH Corp. has a 12-month low of $69.27 and a 12-month high of $141.15. The company has a market capitalization of $6.28 billion, a P/E ratio of 9.96, a P/E/G ratio of 0.89 and a beta of 2.15. The firm has a 50-day moving average price of $114.15 and a 200 day moving average price of $120.71. The company has a quick ratio of 0.83, a current ratio of 1.55 and a debt-to-equity ratio of 0.42.

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

PVH Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th will be paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date is Wednesday, June 5th. PVH’s dividend payout ratio is presently 1.33%.

PVH declared that its Board of Directors has authorized a share buyback program on Monday, April 1st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the textile maker to repurchase up to 24% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of PVH from $138.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, June 6th. Jefferies Financial Group assumed coverage on shares of PVH in a research report on Tuesday, April 30th. They issued a “hold” rating and a $115.00 price target on the stock. Wedbush restated an “outperform” rating and issued a $128.00 price target on shares of PVH in a research report on Wednesday, June 5th. Citigroup decreased their price target on shares of PVH from $139.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 3rd. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $140.00 price target on shares of PVH in a research report on Thursday, June 6th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PVH currently has a consensus rating of “Moderate Buy” and an average target price of $133.81.

Insiders Place Their Bets

In other PVH news, EVP James Holmes sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $108.39, for a total value of $325,170.00. Following the completion of the transaction, the executive vice president now directly owns 13,904 shares of the company’s stock, valued at $1,507,054.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

About PVH

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.