Aigen Investment Management LP Takes Position in PVH Corp. (NYSE:PVH)

Key Points

• Aigen Investment Management LP has invested approximately $1.26 million in PVH Corp., acquiring nearly 19,480 shares during the first quarter.
• Multiple institutional investors have adjusted their positions in PVH Corp., with significant increases in stakes reported by Pzena Investment Management LLC and Voya Investment Management LLC.
• The stock has seen various changes in analyst ratings, with JPMorgan raising its price target from $76.00 to $87.00 while maintaining a "neutral" rating.

Aigen Investment Management LP purchased a new stake in PVH Corp. (NYSE:PVH - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 19,480 shares of the textile maker's stock, valued at approximately $1,259,000.

Several other hedge funds also recently made changes to their positions in PVH. Pzena Investment Management LLC grew its position in shares of PVH by 15.1% during the 1st quarter. Pzena Investment Management LLC now owns 6,161,567 shares of the textile maker's stock valued at $398,284,000 after purchasing an additional 807,301 shares in the last quarter. LSV Asset Management grew its position in shares of PVH by 10.7% during the 1st quarter. LSV Asset Management now owns 1,327,797 shares of the textile maker's stock valued at $85,829,000 after purchasing an additional 128,559 shares in the last quarter. Voya Investment Management LLC grew its position 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 valued at $71,885,000 after purchasing an additional 154,295 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of PVH by 3.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 646,995 shares of the textile maker's stock valued at $41,822,000 after purchasing an additional 19,340 shares in the last quarter. Finally, AQR Capital Management LLC grew its position 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 currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Stefan Larsson purchased 15,645 shares of the business's stock in a transaction dated Thursday, June 26th. The shares were purchased at an average price of $63.92 per share, for a total transaction of $1,000,028.40. Following the completion of the acquisition, the chief executive officer directly owned 269,438 shares in the company, valued at $17,222,476.96. This represents a 6.16% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jesper Andersen purchased 600 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average price of $66.10 per share, for a total transaction of $39,660.00. Following the acquisition, the director owned 736 shares of the company's stock, valued at approximately $48,649.60. The trade was a 441.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company's stock.

PVH Trading Up 0.7%

PVH stock traded up $0.52 during trading on Friday, reaching $76.63. The company had a trading volume of 219,935 shares, compared to its average volume of 1,413,315. PVH Corp. has a 52 week low of $59.28 and a 52 week high of $113.47. The company has a market cap of $3.68 billion, a P/E ratio of 10.80, a PEG ratio of 1.59 and a beta of 1.84. The business has a 50 day moving average of $70.79 and a 200 day moving average of $73.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.11 and a quick ratio of 0.53.

PVH (NYSE:PVH - Get Free Report) 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. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.93 billion. PVH had a return on equity of 12.66% and a net margin of 4.63%. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.45 EPS. As a group, sell-side analysts forecast that PVH Corp. will post 11.67 earnings per share for the current fiscal year.

PVH Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.0375 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.2%. PVH's dividend payout ratio is presently 2.12%.

Analysts Set New Price Targets

Several research analysts recently issued reports on PVH shares. Morgan Stanley cut their target price on shares of PVH from $86.00 to $64.00 and set an "equal weight" rating for the company in a research report on Friday, June 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $115.00 price target on shares of PVH in a research note on Thursday, June 5th. JPMorgan Chase & Co. lifted their price target on PVH from $76.00 to $87.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. BMO Capital Markets dropped their price target on PVH from $93.00 to $84.00 and set a "market perform" rating for the company in a research note on Thursday, June 5th. Finally, Bank of America dropped their price target on PVH from $86.00 to $76.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $93.40.

About PVH

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.