Pinebridge Investments L.P. Invests $684,000 in PVH Corp. (NYSE:PVH)

Pinebridge Investments L.P. bought a new position in shares of PVH Corp. (NYSE:PVHFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,603 shares of the textile maker’s stock, valued at approximately $684,000.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Citigroup cut their price objective on PVH from $139.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, April 3rd. Morgan Stanley increased their price objective on PVH from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday. Guggenheim boosted their target price on shares of PVH from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. BMO Capital Markets upped their target price on shares of PVH from $110.00 to $119.00 and gave the company a “market perform” rating in a report on Wednesday, June 5th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $140.00 price target on shares of PVH in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $133.81.

Check Out Our Latest Stock Report on PVH

PVH Stock Down 1.1 %

NYSE:PVH opened at $119.94 on Monday. The firm has a market capitalization of $6.79 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 0.94 and a beta of 2.15. The stock has a 50 day moving average of $113.19 and a 200-day moving average of $119.25. PVH Corp. has a 52 week low of $69.27 and a 52 week high of $141.15. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31.

PVH (NYSE:PVHGet Free Report) last posted its earnings results on Tuesday, June 4th. The textile maker reported $2.45 EPS for the quarter, beating 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 return on equity of 13.13% and a net margin of 7.53%. The business’s revenue was down 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.14 earnings per share. Analysts predict that PVH Corp. will post 11.18 EPS for the current year.

PVH Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th will be issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Wednesday, June 5th. PVH’s dividend payout ratio (DPR) is 1.33%.

PVH announced that its board has authorized a share repurchase program on Monday, April 1st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the textile maker to purchase up to 24% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP James Holmes sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $108.39, for a total value of $325,170.00. Following the completion of the transaction, the executive vice president now directly owns 13,904 shares of the company’s stock, valued at approximately $1,507,054.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

PVH Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PVH (NYSE:PVH)

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