M&T Bank Corp Has $299,000 Holdings in PVH Corp. (NYSE:PVH)

M&T Bank Corp decreased its holdings in shares of PVH Corp. (NYSE:PVH) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,962 shares of the textile maker’s stock after selling 243 shares during the quarter. M&T Bank Corp’s holdings in PVH were worth $299,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PVH. Altshuler Shaham Ltd acquired a new stake in PVH during the 2nd quarter worth $25,000. Venturi Wealth Management LLC boosted 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 worth $27,000 after purchasing an additional 106 shares during the last quarter. Covestor Ltd grew its stake in shares of PVH by 270.6% during the third quarter. Covestor Ltd now owns 404 shares of the textile maker’s stock worth $41,000 after purchasing an additional 295 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in PVH by 116.3% in 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in PVH in the third quarter valued at about $67,000. 97.25% of the stock is owned by institutional investors.

PVH Stock Down 3.4 %

NYSE:PVH opened at $106.06 on Thursday. The stock has a 50-day simple moving average of $102.69 and a 200 day simple moving average of $102.67. PVH Corp. has a 52-week low of $89.56 and a 52-week high of $141.15. The company has a market cap of $5.90 billion, a PE ratio of 8.64, a PEG ratio of 1.10 and a beta of 2.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.69 and a current ratio of 1.29.

PVH (NYSE:PVH) last issued its quarterly earnings results on Wednesday, December 4th. The textile maker reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.44. PVH had a net margin of 8.13% and a return on equity of 13.66%. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period last year, the business earned $2.90 EPS. The business’s quarterly revenue was down 4.6% on a year-over-year basis. On average, sell-side analysts expect that PVH Corp. will post 11.68 EPS for the current fiscal year.

PVH Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were paid a $0.0375 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.15 annualized dividend and a yield of 0.14%. PVH’s payout ratio is currently 1.22%.

Wall Street Analyst Weigh In

PVH has been the subject of several analyst reports. Barclays boosted their target price on PVH from $142.00 to $144.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Morgan Stanley decreased their price objective on shares of PVH from $120.00 to $100.00 and set an “equal weight” rating for the company in a report on Friday, September 6th. Bank of America lowered shares of PVH from a “buy” rating to a “neutral” rating and cut their target price for the stock from $130.00 to $107.00 in a 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 for the company in a report on Thursday, August 29th. Finally, BMO Capital Markets lowered their price objective on shares of PVH from $119.00 to $106.00 and set a “market perform” rating for the company in a research report on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $128.00.

PVH 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.