Federated Hermes Inc. Has $16.67 Million Stock Position in PVH Corp. (NYSE:PVH)

Key Points

• Federated Hermes Inc. increased its stake in PVH Corp. by 2.1% during Q1, now holding approximately 0.49% valued at $16.67 million.
• Institutional investors own 97.25% of PVH stock, reflecting a strong interest from hedge funds in the textile maker.
• Analysts hold a cautious outlook on PVH, with a mix of ratings and price targets, leading to an average rating of "Moderate Buy" and a target price of $93.40.

Federated Hermes Inc. increased its holdings in shares of PVH Corp. (NYSE:PVH - Free Report) by 2.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 257,946 shares of the textile maker's stock after purchasing an additional 5,268 shares during the period. Federated Hermes Inc. owned approximately 0.49% of PVH worth $16,674,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mackenzie Financial Corp lifted its position in shares of PVH by 87.4% during the 1st quarter. Mackenzie Financial Corp now owns 111,230 shares of the textile maker's stock worth $7,190,000 after buying an additional 51,869 shares during the period. LPL Financial LLC lifted its position in shares of PVH by 321.0% during the 1st quarter. LPL Financial LLC now owns 23,454 shares of the textile maker's stock worth $1,516,000 after buying an additional 17,883 shares during the period. Bastion Asset Management Inc. bought a new position in shares of PVH during the 1st quarter worth approximately $303,000. Cetera Investment Advisers lifted its position in shares of PVH by 63.5% during the 1st quarter. Cetera Investment Advisers now owns 6,468 shares of the textile maker's stock worth $418,000 after buying an additional 2,511 shares during the period. Finally, Avantax Advisory Services Inc. lifted its position in shares of PVH by 5.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,855 shares of the textile maker's stock worth $249,000 after buying an additional 207 shares during the period. Institutional investors and hedge funds own 97.25% of the company's stock.

Insider Activity

In other PVH news, CEO Stefan Larsson bought 15,645 shares of PVH stock in a transaction on Thursday, June 26th. The shares were purchased at an average cost of $63.92 per share, for a total transaction of $1,000,028.40. Following the completion of the acquisition, the chief executive officer 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 SEC, which is available at the SEC website. Also, Director Jesper Andersen purchased 600 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was purchased at an average cost of $66.10 per share, for a total transaction of $39,660.00. Following the purchase, the director directly owned 736 shares in the company, valued at approximately $48,649.60. This trade represents a 441.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

PVH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on PVH from $76.00 to $87.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Barclays decreased their price target on PVH from $87.00 to $83.00 and set an "overweight" rating on the stock in a research report on Monday, June 9th. BMO Capital Markets decreased their price target on PVH from $93.00 to $84.00 and set a "market perform" rating on the stock in a research report on Thursday, June 5th. TD Cowen restated a "hold" rating and set a $74.00 price target (down from $98.00) on shares of PVH in a research report on Wednesday, July 9th. Finally, Citigroup restated a "neutral" rating and set a $68.00 price target (down from $83.00) on shares of PVH in a research report on Monday, April 7th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $93.40.

PVH Trading Up 4.3%

Shares of NYSE:PVH traded up $3.04 during midday trading on Monday, hitting $74.40. The company had a trading volume of 939,024 shares, compared to its average volume of 1,099,834. PVH Corp. has a 12 month low of $59.28 and a 12 month high of $113.47. The company has a current ratio of 1.11, a quick ratio of 0.53 and a debt-to-equity ratio of 0.37. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 1.47 and a beta of 1.84. The firm has a fifty day simple moving average of $72.12 and a 200 day simple moving average of $74.25.

PVH (NYSE:PVH - Get Free Report) last posted its 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 firm 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 revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.45 earnings per share. On average, analysts predict that PVH Corp. will post 11.67 EPS for the current year.

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.