The Manufacturers Life Insurance Company Has $4.56 Million Position in PVH Corp. (NYSE:PVH)

The Manufacturers Life Insurance Company cut its stake in PVH Corp. (NYSE:PVH) by 4.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 45,259 shares of the textile maker’s stock after selling 2,238 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in PVH were worth $4,563,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PVH. Altshuler Shaham Ltd acquired a new position in PVH in the second quarter valued at about $25,000. Venturi Wealth Management LLC raised its position in shares of PVH by 63.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 272 shares of the textile maker’s stock valued at $27,000 after buying an additional 106 shares in the last quarter. Covestor Ltd lifted its holdings in shares of PVH by 270.6% during 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. ORG Partners LLC bought a new position in PVH in the second quarter valued at approximately $42,000. Finally, Allspring Global Investments Holdings LLC raised its position in PVH by 116.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 424 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 228 shares in the last quarter. 97.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PVH has been the topic of several recent analyst reports. The Goldman Sachs Group decreased their price target on PVH from $144.00 to $124.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. TD Cowen lowered their target price on PVH from $149.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Telsey Advisory Group restated an “outperform” rating and issued a $130.00 price target on shares of PVH in a research note on Wednesday. Bank of America cut shares of PVH from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $130.00 to $107.00 in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company cut their target price on shares of PVH from $145.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, PVH has an average rating of “Moderate Buy” and an average price target of $127.87.

PVH Price Performance

PVH stock opened at $107.18 on Friday. The firm has a market cap of $5.98 billion, a P/E ratio of 8.73, a P/E/G ratio of 1.00 and a beta of 2.10. The stock’s 50 day moving average is $100.86 and its 200 day moving average is $103.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.24 and a quick ratio of 0.66. PVH Corp. has a one year low of $89.56 and a one year high of $141.15.

PVH (NYSE:PVH) last posted its quarterly earnings data on Wednesday, December 4th. The textile maker reported $3.03 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.44. PVH had a net margin of 8.37% and a return on equity of 13.94%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the firm posted $2.90 EPS. The company’s quarterly revenue was down 4.6% on a year-over-year basis. As a group, research analysts expect that PVH Corp. will post 11.75 EPS for the current year.

PVH Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders 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 is Wednesday, November 27th. PVH’s dividend payout ratio is 1.22%.

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.