PVH Corp. (NYSE:PVH) Position Cut by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its holdings in PVH Corp. (NYSE:PVH) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,720 shares of the textile maker’s stock after selling 7,913 shares during the quarter. Fisher Asset Management LLC’s holdings in PVH were worth $20,238,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PVH. Allspring Global Investments Holdings LLC grew 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 buying an additional 260 shares in the last quarter. GAMMA Investing LLC acquired a new stake in PVH in the fourth quarter worth approximately $38,000. Lindbrook Capital LLC lifted its position in PVH by 26.8% in the fourth quarter. Lindbrook Capital LLC now owns 521 shares of the textile maker’s stock worth $64,000 after purchasing an additional 110 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in PVH by 15.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 810 shares of the textile maker’s stock worth $99,000 after purchasing an additional 110 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in PVH by 12.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,036 shares of the textile maker’s stock worth $127,000 after purchasing an additional 115 shares during the period. 97.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Guggenheim upped their target price on PVH from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Barclays upped their target price on PVH from $149.00 to $154.00 and gave the stock an “overweight” rating in a research report on Thursday, June 6th. UBS Group increased their price objective on PVH from $158.00 to $159.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. 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 report on Thursday, June 6th. Finally, Evercore ISI increased their price objective on PVH from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, June 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.81.

Insiders Place Their Bets

In other PVH 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 transaction, the executive vice president now directly owns 13,904 shares of the company’s stock, valued at $1,507,054.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

PVH Trading Down 0.9 %

NYSE PVH opened at $113.36 on Wednesday. PVH Corp. has a 1-year low of $69.27 and a 1-year high of $141.15. The company has a current ratio of 1.55, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $6.33 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 0.88 and a beta of 2.15. The firm’s fifty day simple moving average is $113.53 and its 200-day simple moving average is $120.33.

PVH (NYSE:PVH) last posted its 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 the consensus estimate of $1.93 billion. PVH had a net margin of 7.53% and a return on equity of 13.14%. The business’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.14 earnings per share. As a group, sell-side analysts anticipate that PVH Corp. will post 11.26 earnings per share for the current fiscal year.

PVH Dividend Announcement

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

PVH announced that its Board of Directors has initiated a stock buyback plan on Monday, April 1st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the textile maker to purchase up to 24% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

PVH Company 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.