Fifth Third Bancorp Grows Stake in PVH Corp. (NYSE:PVH)

Fifth Third Bancorp lifted its stake in PVH Corp. (NYSE:PVH) by 18.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,645 shares of the textile maker’s stock after buying an additional 258 shares during the quarter. Fifth Third Bancorp’s holdings in PVH were worth $174,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in PVH by 10,839.9% in the fourth quarter. International Assets Investment Management LLC now owns 36,758 shares of the textile maker’s stock worth $4,489,000 after buying an additional 36,422 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of PVH by 2,600.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 270 shares of the textile maker’s stock valued at $33,000 after acquiring an additional 260 shares in the last quarter. New York State Common Retirement Fund raised its holdings in PVH by 165.7% in the 4th quarter. New York State Common Retirement Fund now owns 173,154 shares of the textile maker’s stock worth $21,146,000 after acquiring an additional 107,983 shares during the last quarter. GAMMA Investing LLC bought a new position in PVH in the 4th quarter valued at approximately $38,000. Finally, Retirement Systems of Alabama boosted its stake in PVH by 53.0% during the 4th quarter. Retirement Systems of Alabama now owns 163,378 shares of the textile maker’s stock valued at $19,952,000 after purchasing an additional 56,570 shares during the last quarter. Institutional investors own 97.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PVH. Evercore ISI boosted their price target on PVH from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, June 3rd. Barclays boosted 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. Jefferies Financial Group initiated coverage on shares of PVH in a report on Tuesday, April 30th. They set a “hold” rating and a $115.00 price target on the stock. TD Cowen decreased their price objective on shares of PVH from $154.00 to $149.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $140.00 target price on shares of PVH in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, PVH presently has a consensus rating of “Moderate Buy” and an average target price of $132.81.

PVH Stock Performance

NYSE:PVH opened at $105.66 on Friday. The stock has a 50-day simple moving average of $103.16 and a two-hundred day simple moving average of $115.19. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 1.55. PVH Corp. has a 52-week low of $69.27 and a 52-week high of $141.15. The firm has a market capitalization of $5.90 billion, a PE ratio of 9.35, a P/E/G ratio of 0.77 and a beta of 2.14.

PVH (NYSE:PVH) last released its earnings results on Tuesday, June 4th. The textile maker reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.31. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.93 billion. PVH had a net margin of 7.53% and a return on equity of 13.14%. The firm’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.14 EPS. Analysts forecast that PVH Corp. will post 11.23 EPS for the current year.

PVH Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.14%. The ex-dividend date is Wednesday, September 4th. PVH’s dividend payout ratio is currently 1.33%.

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.