Echo Street Capital Management LLC raised its stake in PVH Corp. (NYSE:PVH – Get Rating) by 624.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,294 shares of the textile maker’s stock after purchasing an additional 13,182 shares during the quarter. Echo Street Capital Management LLC’s holdings in PVH were worth $1,172,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Pzena Investment Management LLC grew its stake in PVH by 0.8% in the first quarter. Pzena Investment Management LLC now owns 7,836,192 shares of the textile maker’s stock valued at $600,331,000 after purchasing an additional 60,361 shares in the last quarter. State Street Corp grew its stake in PVH by 3.9% in the fourth quarter. State Street Corp now owns 2,396,147 shares of the textile maker’s stock valued at $255,549,000 after purchasing an additional 89,620 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in PVH by 17.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,215,397 shares of the textile maker’s stock valued at $169,740,000 after purchasing an additional 329,358 shares in the last quarter. Invesco Ltd. boosted its stake in shares of PVH by 9.7% during the 1st quarter. Invesco Ltd. now owns 1,684,738 shares of the textile maker’s stock worth $129,067,000 after acquiring an additional 148,917 shares during the period. Finally, Sound Shore Management Inc. CT bought a new position in shares of PVH during the 1st quarter worth approximately $110,775,000. 95.82% of the stock is currently owned by institutional investors.
PVH Price Performance
Shares of NYSE PVH opened at $60.59 on Monday. The stock has a market capitalization of $4.06 billion, a PE ratio of 4.63, a P/E/G ratio of 7.38 and a beta of 2.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.35 and a quick ratio of 0.71. The business has a fifty day moving average price of $61.58 and a two-hundred day moving average price of $68.74. PVH Corp. has a fifty-two week low of $53.03 and a fifty-two week high of $125.42.
PVH Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 7th will be issued a dividend of $0.038 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.25%. PVH’s dividend payout ratio (DPR) is currently 1.15%.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on PVH shares. Morgan Stanley reduced their target price on PVH from $83.00 to $51.00 and set an “equal weight” rating for the company in a research note on Friday, September 2nd. Barclays reduced their target price on PVH from $87.00 to $60.00 in a research note on Friday, September 2nd. BMO Capital Markets reduced their target price on PVH from $88.00 to $79.00 and set a “market perform” rating for the company in a research note on Wednesday, August 31st. Wedbush reduced their target price on PVH to $65.00 in a research note on Tuesday, September 6th. Finally, Citigroup dropped their price target on PVH from $94.00 to $73.00 and set a “neutral” rating for the company in a report on Sunday, June 5th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, PVH has a consensus rating of “Hold” and a consensus target price of $77.53.
PVH Corp. operates as an apparel company worldwide. The company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's, women's, and children's apparel and accessories, including branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, swimwear, swim-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage products, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, home bed and bath furnishings, small leather goods, and other products.
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