JPMorgan Chase & Co. Sells 142,456 Shares of PVH Corp. $PVH

Key Points

• JPMorgan Chase cut its stake in PVH by 54.1% in Q3, selling 142,456 shares and leaving it with 120,673 shares (about 0.26% of the company) worth roughly $10.11 million.
• Several large institutions increased positions—LSV added 634,887 shares (+47.8%), Barclays boosted its stake by 68.4%, and others also bought—leaving institutional ownership at about 97.25%.
• Analysts have an average rating of "Hold" with an average price target of $88.33; PVH shares trade around $66.40 (1‑year range $59.28–$89.79), market cap ~$3.04B, P/E ~9.95, and an annual dividend yield of 0.2%.

JPMorgan Chase & Co. cut its stake in PVH Corp. (NYSE:PVH - Free Report) by 54.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,673 shares of the textile maker's stock after selling 142,456 shares during the quarter. JPMorgan Chase & Co. owned about 0.26% of PVH worth $10,110,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in PVH by 0.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,072,713 shares of the textile maker's stock worth $176,471,000 after buying an additional 15,700 shares during the period. LSV Asset Management lifted its stake in shares of PVH by 47.8% in the 3rd quarter. LSV Asset Management now owns 1,963,303 shares of the textile maker's stock valued at $164,466,000 after purchasing an additional 634,887 shares during the period. American Century Companies Inc. boosted its position in shares of PVH by 19.9% during the third quarter. American Century Companies Inc. now owns 1,270,040 shares of the textile maker's stock valued at $106,391,000 after purchasing an additional 210,885 shares in the last quarter. Barclays PLC boosted its position in shares of PVH by 68.4% during the third quarter. Barclays PLC now owns 1,197,009 shares of the textile maker's stock valued at $100,273,000 after purchasing an additional 486,210 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in PVH in the third quarter worth $74,338,000. Institutional investors own 97.25% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on PVH shares. Guggenheim started coverage on PVH in a research report on Tuesday, December 9th. They set a "neutral" rating for the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of PVH in a research report on Thursday, January 22nd. Jefferies Financial Group lowered their price target 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. Citigroup dropped their price objective on shares of PVH from $83.00 to $80.00 and set a "neutral" rating on the stock in a research note on Monday, December 8th. Finally, Telsey Advisory Group cut their price objective on shares of PVH from $82.00 to $74.00 and set a "market perform" rating on the stock in a report on Tuesday, March 24th. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $88.33.

PVH Stock Performance

Shares of PVH stock opened at $66.40 on Friday. PVH Corp. has a 1 year low of $59.28 and a 1 year high of $89.79. The firm's 50-day moving average is $65.33 and its 200 day moving average is $73.40. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 2.24 and a beta of 1.67. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.47 and a quick ratio of 0.72.

PVH Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th were issued a dividend of $0.0375 per share. The ex-dividend date was Wednesday, March 4th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.2%. PVH's dividend payout ratio is presently 2.25%.

About PVH

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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