Envestnet Asset Management Inc. Lowers Stock Holdings in PVH Corp. (NYSE:PVH)

Key Points

• Envestnet Asset Management Inc. sold 5,684 shares of PVH Corp., reducing its holdings by 18.5%, now owning 25,027 shares valued at approximately $1.62 million.
• In recent insider transactions, CEO Stefan Larsson acquired 15,645 shares while Director Jesper Andersen bought 600 shares, both indicating confidence in the company's future prospects.
• PVH reported earnings of $2.30 per share for its latest quarter, beating analyst expectations and reflecting a 1.6% increase in revenue year-over-year.

Envestnet Asset Management Inc. trimmed its holdings in shares of PVH Corp. (NYSE:PVH - Free Report) by 18.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,027 shares of the textile maker's stock after selling 5,684 shares during the period. Envestnet Asset Management Inc.'s holdings in PVH were worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. FMR LLC increased its position in shares of PVH by 0.4% during the fourth quarter. FMR LLC now owns 6,826,021 shares of the textile maker's stock worth $721,852,000 after purchasing an additional 29,578 shares in the last quarter. LSV Asset Management increased its stake in PVH by 1.3% in the fourth quarter. LSV Asset Management now owns 1,199,238 shares of the textile maker's stock valued at $126,819,000 after purchasing an additional 15,900 shares during the period. Voya Investment Management LLC increased its stake in PVH by 29.4% in the fourth 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 during the period. AQR Capital Management LLC boosted its stake in shares of PVH by 128.6% during the fourth quarter. AQR Capital Management LLC now owns 566,513 shares of the textile maker's stock worth $59,909,000 after buying an additional 318,731 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of PVH by 29.1% during the fourth quarter. Northern Trust Corp now owns 549,642 shares of the textile maker's stock worth $58,125,000 after buying an additional 124,022 shares during the last quarter. 97.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PVH has been the subject of a number of recent research reports. Bank of America decreased their price objective on PVH from $86.00 to $76.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. Wall Street Zen upgraded shares of PVH from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. BMO Capital Markets cut their price objective on shares of PVH from $93.00 to $84.00 and set a "market perform" rating for the company in a research report on Thursday, June 5th. UBS Group reduced their target price on shares of PVH from $150.00 to $146.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Finally, TD Cowen restated a "hold" rating and issued a $74.00 target price (down previously from $98.00) on shares of PVH in a research note on Wednesday, July 9th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $93.40.

PVH Price Performance

Shares of NYSE:PVH traded down $2.11 during trading on Friday, hitting $71.31. 1,155,564 shares of the stock were exchanged, compared to its average volume of 1,042,055. The company has a fifty day moving average price of $72.12 and a two-hundred day moving average price of $74.55. The company has a market cap of $3.43 billion, a PE ratio of 10.06, a P/E/G ratio of 1.47 and a beta of 1.84. The company has a current ratio of 1.11, a quick ratio of 0.53 and a debt-to-equity ratio of 0.37. PVH Corp. has a 12-month low of $59.28 and a 12-month high of $113.47.

PVH (NYSE:PVH - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The textile maker reported $2.30 EPS for the quarter, topping the consensus estimate of $2.24 by $0.06. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.93 billion. PVH had a return on equity of 12.66% and a net margin of 4.63%. The company's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.45 EPS. On average, analysts forecast that PVH Corp. will post 11.67 EPS for the current year.

Insider Activity at PVH

In other news, Director Jesper Andersen purchased 600 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average price of $66.10 per share, with a total value of $39,660.00. Following the purchase, the director directly owned 736 shares of the company's stock, valued at $48,649.60. The trade was 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 bought 15,645 shares of PVH stock in a transaction that occurred on Thursday, June 26th. The stock was 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 owned 269,438 shares in the company, valued at $17,222,476.96. This represents a 6.16% increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is owned by insiders.

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.