Prudential Financial Inc. Cuts Stock Holdings in PVH Corp. (NYSE:PVH)

Prudential Financial Inc. trimmed its holdings in PVH Corp. (NYSE:PVH) by 82.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,683 shares of the textile maker’s stock after selling 66,216 shares during the period. Prudential Financial Inc.’s holdings in PVH were worth $1,397,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PVH. Pacer Advisors Inc. raised its holdings in shares of PVH by 2.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,742,436 shares of the textile maker’s stock worth $184,263,000 after acquiring an additional 36,719 shares during the period. Bank of New York Mellon Corp grew its position in PVH by 22.9% in the 4th quarter. Bank of New York Mellon Corp now owns 774,010 shares of the textile maker’s stock valued at $81,852,000 after acquiring an additional 144,260 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of PVH by 179,164.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 760,080 shares of the textile maker’s stock valued at $79,705,000 after purchasing an additional 759,656 shares in the last quarter. Channing Capital Management LLC increased its position in shares of PVH by 87.0% during the fourth quarter. Channing Capital Management LLC now owns 680,991 shares of the textile maker’s stock worth $72,015,000 after acquiring an additional 316,876 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in PVH by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 627,655 shares of the textile maker’s stock worth $66,375,000 after purchasing an additional 4,645 shares during the period. Institutional investors and hedge funds own 97.25% of the company’s stock.

PVH Price Performance

PVH opened at $67.61 on Friday. The company has a 50 day moving average of $74.52 and a two-hundred day moving average of $92.07. PVH Corp. has a 52-week low of $61.59 and a 52-week high of $124.68. The company has a quick ratio of 0.69, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company has a market cap of $3.76 billion, a P/E ratio of 5.51, a P/E/G ratio of 0.77 and a beta of 1.89.

PVH (NYSE:PVH) last announced its earnings results on Monday, March 31st. The textile maker reported $3.27 EPS for the quarter, beating the consensus estimate of $3.19 by $0.08. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.34 billion. PVH had a return on equity of 13.66% and a net margin of 8.13%. The company’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the business posted $3.72 EPS. On average, analysts expect that PVH Corp. will post 11.67 earnings per share for the current year.

PVH Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.0375 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.15 annualized dividend and a dividend yield of 0.22%. PVH’s payout ratio is 1.42%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PVH. Barclays raised their price objective on shares of PVH from $98.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company downgraded PVH from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $130.00 to $105.00 in a report on Monday, February 3rd. Citigroup lowered their price target on PVH from $123.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. The Goldman Sachs Group dropped their price objective on shares of PVH from $128.00 to $109.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, Evercore ISI cut their target price on PVH from $139.00 to $105.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.40.

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.