Empowered Funds LLC Sells 57,185 Shares of PVH Corp. (NYSE:PVH)

Empowered Funds LLC lowered its holdings in shares of PVH Corp. (NYSE:PVH) by 88.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,560 shares of the textile maker’s stock after selling 57,185 shares during the quarter. Empowered Funds LLC’s holdings in PVH were worth $762,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. New Covenant Trust Company N.A. bought a new position in PVH in the 1st quarter worth $26,000. Altshuler Shaham Ltd bought a new position in PVH in the 2nd quarter worth $25,000. Venturi Wealth Management LLC raised its holdings in PVH by 63.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 272 shares of the textile maker’s stock worth $27,000 after acquiring an additional 106 shares during the period. ORG Partners LLC bought a new position in PVH in the 2nd quarter worth $42,000. Finally, Covestor Ltd raised its holdings in PVH by 270.6% in the 3rd quarter. Covestor Ltd now owns 404 shares of the textile maker’s stock worth $41,000 after acquiring an additional 295 shares during the period. Institutional investors own 97.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on PVH shares. BMO Capital Markets dropped their target price on shares of PVH from $119.00 to $106.00 and set a “market perform” rating on the stock in a report on Wednesday, August 28th. Bank of America lowered shares of PVH from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $130.00 to $107.00 in a research report on Wednesday, October 2nd. TD Cowen decreased their price target on shares of PVH from $149.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Morgan Stanley decreased their price target on shares of PVH from $120.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Friday, September 6th. Finally, Guggenheim decreased their target price on shares of PVH from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $126.53.

PVH Trading Up 4.4 %

Shares of PVH stock opened at $103.87 on Friday. PVH Corp. has a 12-month low of $85.49 and a 12-month high of $141.15. The company has a market capitalization of $5.80 billion, a P/E ratio of 8.24, a P/E/G ratio of 0.90 and a beta of 2.11. 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 firm has a 50-day moving average price of $98.46 and a 200 day moving average price of $103.43.

PVH (NYSE:PVH) last announced its earnings results on Tuesday, August 27th. The textile maker reported $3.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.72. PVH had a net margin of 8.37% and a return on equity of 13.94%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm posted $1.98 earnings per share. The company’s revenue was down 6.0% on a year-over-year basis. Research analysts forecast that PVH Corp. will post 11.66 earnings per share for the current fiscal year.

PVH Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Wednesday, November 27th. PVH’s dividend payout ratio is presently 1.19%.

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.