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

Other institutional investors have also recently bought and sold shares of the company. Pictet Asset Management Holding SA increased its stake in PVH by 10.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,953 shares of the textile maker's stock valued at $947,000 after acquiring an additional 844 shares during the period. Schroder Investment Management Group acquired a new position in PVH in the fourth quarter valued at approximately $38,035,000. Brandywine Global Investment Management LLC lifted its holdings in PVH by 80.3% in the fourth quarter. Brandywine Global Investment Management LLC now owns 50,485 shares of the textile maker's stock valued at $5,339,000 after buying an additional 22,482 shares during the period. AIA Group Ltd acquired a new stake in PVH during the 4th quarter worth $393,000. Finally, Franklin Resources Inc. grew its holdings in PVH by 54.9% during the 4th quarter. Franklin Resources Inc. now owns 428,102 shares of the textile maker's stock worth $45,272,000 after acquiring an additional 151,687 shares during the period. Institutional investors own 97.25% of the company's stock.

PVH Price Performance

Shares of PVH stock traded up $3.02 on Monday, reaching $74.38. The stock had a trading volume of 444,958 shares, compared to its average volume of 1,448,300. 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 1 year low of $59.28 and a 1 year high of $113.47. The company has a market cap of $3.58 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 1.47 and a beta of 1.84. The business's 50 day moving average is $72.12 and its two-hundred day moving average is $74.25.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PVH shares. JPMorgan Chase & Co. lifted their price objective 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 lowered their target price on shares of PVH from $93.00 to $84.00 and set a "market perform" rating for the company in a research note on Thursday, June 5th. Jefferies Financial Group raised shares of PVH from a "hold" rating to a "buy" rating and upped their target price for the company from $70.00 to $105.00 in a research note on Wednesday, May 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $115.00 target price on shares of PVH in a research note on Thursday, June 5th. Finally, Bank of America lowered their price objective on shares of PVH from $86.00 to $76.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $93.40.

Insiders Place Their Bets

In related news, CEO Stefan Larsson purchased 15,645 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The shares were acquired 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 approximately $17,222,476.96. The trade was a 6.16% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jesper Andersen purchased 600 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was bought 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 $48,649.60. This represents 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.

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.