Bank of Montreal Can Cuts Holdings in PVH Corp. (NYSE:PVH)

Bank of Montreal Can lowered its stake in shares of PVH Corp. (NYSE:PVH) by 20.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,130 shares of the textile maker’s stock after selling 2,547 shares during the quarter. Bank of Montreal Can’s holdings in PVH were worth $1,153,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PVH. Blair William & Co. IL raised its position in PVH by 2.9% during the first quarter. Blair William & Co. IL now owns 3,311 shares of the textile maker’s stock valued at $466,000 after purchasing an additional 92 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of PVH by 0.7% during the 1st quarter. State of Michigan Retirement System now owns 14,600 shares of the textile maker’s stock valued at $2,053,000 after buying an additional 100 shares in the last quarter. Signaturefd LLC raised its holdings in shares of PVH by 6.7% during the 2nd quarter. Signaturefd LLC now owns 1,713 shares of the textile maker’s stock valued at $181,000 after buying an additional 107 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in PVH by 4.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,495 shares of the textile maker’s stock worth $264,000 after buying an additional 108 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in PVH by 1.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,840 shares of the textile maker’s stock worth $1,202,000 after buying an additional 141 shares in the last quarter. 97.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. BMO Capital Markets decreased their price target on shares of PVH from $119.00 to $106.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 28th. The Goldman Sachs Group decreased their target price on shares of PVH from $144.00 to $124.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Telsey Advisory Group cut their price target on shares of PVH from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Morgan Stanley decreased their price objective on PVH from $120.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, September 6th. Finally, Barclays lowered their target price on PVH from $154.00 to $142.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, PVH has an average rating of “Moderate Buy” and an average price target of $128.87.

PVH Stock Performance

Shares of PVH stock opened at $97.90 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.24 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average of $97.59 and a 200 day moving average of $107.94. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.77 and a beta of 2.11. PVH Corp. has a 52 week low of $69.27 and a 52 week high of $141.15.

PVH (NYSE:PVH) last posted its earnings results on Tuesday, August 27th. The textile maker reported $3.01 EPS for the quarter, topping the consensus estimate of $2.29 by $0.72. PVH had a net margin of 8.37% and a return on equity of 13.94%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the company posted $1.98 EPS. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, research analysts expect that PVH Corp. will post 11.59 earnings per share for the current year.

PVH Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Wednesday, September 4th. PVH’s payout ratio is presently 1.33%.

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.