Mackenzie Financial Corp Grows Stock Position in PVH Corp. (NYSE:PVH)

Mackenzie Financial Corp lifted its stake in PVH Corp. (NYSE:PVH) by 163.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,069 shares of the textile maker’s stock after buying an additional 36,687 shares during the quarter. Mackenzie Financial Corp owned approximately 0.11% of PVH worth $6,254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its position in PVH by 13,275.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,222,207 shares of the textile maker’s stock worth $129,395,000 after purchasing an additional 1,213,069 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in PVH by 234.1% during the first quarter. Principal Financial Group Inc. now owns 741,151 shares of the textile maker’s stock worth $104,213,000 after buying an additional 519,316 shares in the last quarter. Balyasny Asset Management L.P. grew its position in PVH by 711.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 341,506 shares of the textile maker’s stock valued at $41,705,000 after buying an additional 299,418 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in PVH by 14.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,320,471 shares of the textile maker’s stock valued at $245,668,000 after buying an additional 296,040 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of PVH by 6,471.3% in the second quarter. Point72 Asset Management L.P. now owns 289,139 shares of the textile maker’s stock worth $30,611,000 after acquiring an additional 284,739 shares during the period. 97.25% of the stock is owned by institutional investors and hedge funds.

PVH Stock Performance

NYSE PVH opened at $100.83 on Tuesday. PVH Corp. has a fifty-two week low of $69.27 and a fifty-two week high of $141.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 1.24. The stock’s fifty day moving average is $97.80 and its two-hundred day moving average is $108.57. The firm has a market capitalization of $5.63 billion, a P/E ratio of 8.92, a price-to-earnings-growth ratio of 0.74 and a beta of 2.12.

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

PVH Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were given a dividend of $0.0375 per share. 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 1.33%.

Analysts Set New Price Targets

PVH has been the subject of several recent analyst reports. Evercore ISI lifted their price target on PVH from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, June 3rd. The Goldman Sachs Group cut their price objective on PVH from $144.00 to $124.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Telsey Advisory Group decreased their target price on PVH from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. TD Cowen cut their price target on shares of PVH from $149.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, StockNews.com downgraded shares of PVH from a “strong-buy” rating to a “buy” rating in a report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $130.40.

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.