Zurcher Kantonalbank Zurich Cantonalbank Trims Stock Position in PVH Corp. (NYSE:PVH)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of PVH Corp. (NYSE:PVH) by 5.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,246 shares of the textile maker’s stock after selling 694 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PVH were worth $856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PVH. FMR LLC lifted its holdings in shares of PVH by 0.4% in the 4th quarter. FMR LLC now owns 6,826,021 shares of the textile maker’s stock valued at $721,852,000 after buying an additional 29,578 shares during the period. Pzena Investment Management LLC lifted its holdings in PVH by 15.1% in the first quarter. Pzena Investment Management LLC now owns 6,161,567 shares of the textile maker’s stock valued at $398,284,000 after acquiring an additional 807,301 shares during the period. LSV Asset Management boosted its position in PVH by 1.3% in the 4th quarter. LSV Asset Management now owns 1,199,238 shares of the textile maker’s stock worth $126,819,000 after purchasing an additional 15,900 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of PVH by 29.4% during the 4th quarter. Voya Investment Management LLC now owns 679,762 shares of the textile maker’s stock worth $71,885,000 after purchasing an additional 154,295 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of PVH by 128.6% during the 4th quarter. AQR Capital Management LLC now owns 566,513 shares of the textile maker’s stock valued at $59,909,000 after purchasing an additional 318,731 shares in the last quarter. 97.25% of the stock is owned by hedge funds and other institutional investors.

PVH Trading Down 0.1%

Shares of PVH stock opened at $74.41 on Wednesday. PVH Corp. has a fifty-two week low of $59.28 and a fifty-two week high of $113.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.53 and a current ratio of 1.11. The stock’s fifty day moving average is $71.72 and its two-hundred day moving average is $74.12. The firm has a market capitalization of $3.58 billion, a P/E ratio of 10.50, a PEG ratio of 1.53 and a beta of 1.84.

PVH (NYSE:PVH) last posted its quarterly earnings results on Wednesday, June 4th. The textile maker reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.06. PVH had a net margin of 4.63% and a return on equity of 12.66%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the firm posted $2.45 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Research analysts expect that PVH Corp. will post 11.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jesper Andersen purchased 600 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The stock was purchased at an average price of $66.10 per share, with a total value of $39,660.00. Following the completion of the acquisition, the director owned 736 shares in the company, valued at $48,649.60. This trade represents a 441.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stefan Larsson acquired 15,645 shares of the stock in a transaction on Thursday, June 26th. The shares were bought at an average cost of $63.92 per share, for a total transaction of $1,000,028.40. Following the purchase, the chief executive officer directly owned 269,438 shares of the company’s stock, valued at $17,222,476.96. The trade was a 6.16% increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. TD Cowen reissued a “hold” rating and set a $74.00 price target (down from $98.00) on shares of PVH in a report on Wednesday, July 9th. BMO Capital Markets lowered their target price on shares of PVH from $93.00 to $84.00 and set a “market perform” rating on the stock in a research note on Thursday, June 5th. Jefferies Financial Group upgraded PVH from a “hold” rating to a “buy” rating and lifted their price target for the company from $70.00 to $105.00 in a research note on Wednesday, May 14th. Wells Fargo & Company reduced their price target on PVH from $100.00 to $80.00 and set an “equal weight” rating for the company in a report on Thursday, June 5th. Finally, Wall Street Zen upgraded PVH from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, PVH presently has a consensus rating of “Moderate Buy” and an average target price of $93.40.

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.