Crossmark Global Holdings Inc. Lowers Stock Holdings in PVH Corp. $PVH

Key Points

• Crossmark Global Holdings cut its PVH stake by 78.8% in Q3, selling 41,452 shares and ending the period with 11,136 shares valued at about $933,000 per its 13F filing.
• Other institutions moved in—Vaughan Nelson established a roughly $74.3M position and Allianz raised its holding 51.8% to 311,555 shares—leaving about 97.25% of PVH owned by hedge funds and institutional investors.
• Company snapshot: PVH has a market cap of ~$2.96B, P/E ~9.69 and a 52-week range of $59.28–$89.79; it declared a quarterly dividend of $0.0375 (annual $0.15, yield ~0.2%), while analyst coverage is mixed with an average rating of "Hold" and a target around $89.73.

Crossmark Global Holdings Inc. lessened its stake in PVH Corp. (NYSE:PVH - Free Report) by 78.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,136 shares of the textile maker's stock after selling 41,452 shares during the period. Crossmark Global Holdings Inc.'s holdings in PVH were worth $933,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Lingohr Asset Management GmbH acquired a new position in shares of PVH in the third quarter valued at approximately $4,311,000. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of PVH during the third quarter worth approximately $74,338,000. Strengthening Families & Communities LLC acquired a new stake in shares of PVH during the third quarter worth $2,620,000. Federated Hermes Inc. grew its position in PVH by 9.0% in the 2nd quarter. Federated Hermes Inc. now owns 281,149 shares of the textile maker's stock valued at $19,287,000 after buying an additional 23,203 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in PVH by 51.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 311,555 shares of the textile maker's stock valued at $26,099,000 after buying an additional 106,262 shares during the last quarter. 97.25% of the stock is owned by hedge funds and other institutional investors.

PVH Price Performance

Shares of NYSE PVH opened at $64.61 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 1.47. PVH Corp. has a one year low of $59.28 and a one year high of $89.79. The firm has a market capitalization of $2.96 billion, a P/E ratio of 9.69, a PEG ratio of 2.16 and a beta of 1.67. The company's fifty day moving average is $66.20 and its two-hundred day moving average is $75.32.

PVH Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be issued a dividend of $0.0375 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.15 dividend on an annualized basis and a yield of 0.2%. PVH's payout ratio is currently 2.25%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PVH. Needham & Company LLC restated a "buy" rating and set a $100.00 price objective on shares of PVH in a research report on Thursday, December 4th. Telsey Advisory Group reiterated an "outperform" rating and set a $95.00 price target on shares of PVH in a research note on Thursday, December 4th. BTIG Research reissued a "buy" rating and set a $100.00 price target on shares of PVH in a report on Friday, December 5th. Jefferies Financial Group reduced their price objective on shares of PVH from $85.00 to $80.00 and set a "buy" rating for the company in a research report on Tuesday, January 27th. Finally, UBS Group lowered their price objective on PVH from $148.00 to $120.00 and set a "buy" rating on the stock in a report on Friday. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $89.73.

PVH Company Profile

PVH Corp is a leading global apparel company known for its portfolio of iconic brands in the dress shirt, sportswear and lifestyle categories. The company designs, markets and distributes clothing, accessories and fragrances under both owned and licensed brands. PVH's core brand holdings include Calvin Klein and Tommy Hilfiger, complemented by a range of heritage labels such as Van Heusen, IZOD, ARROW, Warner's and Olga.

PVH's operations span the entire value chain from product design and development to manufacturing, marketing and distribution.

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