Fifth Third Wealth Advisors LLC Takes Position in PVH Corp. (NYSE:PVH)

Fifth Third Wealth Advisors LLC bought a new stake in shares of PVH Corp. (NYSE:PVH) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,623 shares of the textile maker’s stock, valued at approximately $228,000.

Several other hedge funds have also recently made changes to their positions in the business. Lindbrook Capital LLC grew its holdings in PVH by 26.8% during the 4th quarter. Lindbrook Capital LLC now owns 521 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 110 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in PVH by 15.7% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 810 shares of the textile maker’s stock valued at $99,000 after purchasing an additional 110 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in PVH by 12.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,036 shares of the textile maker’s stock valued at $127,000 after purchasing an additional 115 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in PVH by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 27,389 shares of the textile maker’s stock valued at $2,096,000 after purchasing an additional 140 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in PVH by 1.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,840 shares of the textile maker’s stock valued at $1,202,000 after purchasing an additional 141 shares during the last quarter. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP James Holmes sold 3,000 shares of PVH stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $108.39, for a total transaction of $325,170.00. Following the transaction, the executive vice president now owns 13,904 shares in the company, valued at $1,507,054.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PVH shares. Guggenheim upped their price target on shares of PVH from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. BMO Capital Markets upped their target price on shares of PVH from $110.00 to $119.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 5th. Bank of America upped their target price on shares of PVH from $122.00 to $144.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Telsey Advisory Group restated an “outperform” rating and issued a $140.00 target price on shares of PVH in a research note on Thursday, June 6th. Finally, Wedbush restated an “outperform” rating and issued a $128.00 target price on shares of PVH in a research note on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $133.81.

PVH Price Performance

Shares of PVH stock traded down $1.06 during trading hours on Friday, reaching $105.87. The stock had a trading volume of 1,187,953 shares, compared to its average volume of 913,857. The company has a current ratio of 1.55, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. PVH Corp. has a twelve month low of $69.27 and a twelve month high of $141.15. The stock’s 50 day moving average is $114.24 and its 200 day moving average is $120.53. The firm has a market capitalization of $5.91 billion, a PE ratio of 9.37, a PEG ratio of 0.85 and a beta of 2.15.

PVH (NYSE:PVH) last released its earnings results on Tuesday, June 4th. The textile maker reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.31. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.93 billion. PVH had a return on equity of 13.14% and a net margin of 7.53%. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 earnings per share. Equities analysts expect that PVH Corp. will post 11.26 earnings per share for the current fiscal year.

PVH declared that its Board of Directors has approved a share buyback program on Monday, April 1st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the textile maker to reacquire up to 24% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

PVH Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th were given a dividend of $0.0375 per share. The ex-dividend date was Wednesday, June 5th. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. PVH’s payout ratio is 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.