PVH Corp. (NYSE:PVH) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. significantly reduced its stake in PVH Corp. by 58.8%, owning 1.36% of the company valued at approximately $46.41 million after selling over one million shares during the first quarter.
• PVH reported a better-than-expected quarterly earnings per share of $2.30, surpassing estimates of $2.24, with revenue also exceeding projections at $1.98 billion.
• The stock's current market performance includes a price-to-earnings ratio of 10.83 and a recent target price consensus of $94.20 from analysts.

Pacer Advisors Inc. decreased its holdings in shares of PVH Corp. (NYSE:PVH - Free Report) by 58.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 717,927 shares of the textile maker's stock after selling 1,024,509 shares during the quarter. Pacer Advisors Inc. owned about 1.36% of PVH worth $46,407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PVH. Cetera Investment Advisers lifted its holdings in shares of PVH by 63.5% in the first quarter. Cetera Investment Advisers now owns 6,468 shares of the textile maker's stock worth $418,000 after acquiring an additional 2,511 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of PVH by 5.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 3,855 shares of the textile maker's stock worth $249,000 after acquiring an additional 207 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in PVH during the 1st quarter valued at $1,909,000. South Dakota Investment Council grew its position in shares of PVH by 44.0% in the 1st quarter. South Dakota Investment Council now owns 150,199 shares of the textile maker's stock worth $9,709,000 after buying an additional 45,864 shares during the period. Finally, Pzena Investment Management LLC boosted its holdings in shares of PVH by 15.1% during the 1st quarter. Pzena Investment Management LLC now owns 6,161,567 shares of the textile maker's stock valued at $398,284,000 after acquiring an additional 807,301 shares during the last quarter. Institutional investors and hedge funds own 97.25% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PVH shares. Bank of America lowered their target price on shares of PVH from $86.00 to $76.00 and set a "neutral" rating for the company in a research note on Friday, June 6th. Evercore ISI decreased their target price on PVH from $105.00 to $95.00 and set an "outperform" rating for the company in a research note on Thursday, June 5th. BMO Capital Markets dropped their target price on PVH from $93.00 to $84.00 and set a "market perform" rating on the stock in a report on Thursday, June 5th. Morgan Stanley dropped their price objective on PVH from $86.00 to $64.00 and set an "equal weight" rating for the company in a research report on Friday, June 6th. Finally, Wall Street Zen raised PVH from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, PVH currently has an average rating of "Moderate Buy" and a consensus target price of $93.40.

PVH Stock Down 0.5%

NYSE PVH traded down $0.38 on Wednesday, hitting $74.90. 165,879 shares of the stock were exchanged, compared to its average volume of 1,455,037. The company has a 50-day moving average price of $72.70 and a 200-day moving average price of $74.90. PVH Corp. has a fifty-two week low of $59.28 and a fifty-two week high of $113.47. The company has a market cap of $3.60 billion, a PE ratio of 10.56, a PEG ratio of 1.58 and a beta of 1.81. The company has a quick ratio of 0.53, a current ratio of 1.11 and a debt-to-equity ratio of 0.37.

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

Insider Buying and Selling at PVH

In other PVH news, Director Jesper Andersen acquired 600 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were acquired at an average price of $66.10 per share, for a total transaction of $39,660.00. Following the acquisition, the director directly owned 736 shares of the company's stock, valued at approximately $48,649.60. This trade represents a 441.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stefan Larsson purchased 15,645 shares of PVH stock in a transaction that occurred on Thursday, June 26th. The stock was purchased at an average price of $63.92 per share, with a total value of $1,000,028.40. Following the completion of the purchase, the chief executive officer directly owned 269,438 shares in the company, valued at $17,222,476.96. This trade represents a 6.16% 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.

PVH Company 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.