Principal Financial Group Inc. Boosts Holdings in PVH Corp. $PVH

Key Points

• Principal Financial Group increased its PVH stake by 2.2% in the fourth quarter, bringing its holdings to 563,629 shares worth about $37.8 million. Institutional investors overall still own a very large share of the company at 97.25%.
• PVH reported strong quarterly results, posting EPS of $3.82 versus estimates of $3.30 and revenue of $2.51 billion versus expectations of $2.43 billion. Revenue rose 5.6% year over year, and analysts now expect full-year EPS of 12.01.
• Analyst sentiment remains mixed but generally positive, with several firms raising price targets and multiple firms issuing buy ratings. PVH recently traded up 1.0% to $89.48, and its current average analyst target price is $88.93.

Principal Financial Group Inc. boosted its holdings in PVH Corp. (NYSE:PVH - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 563,629 shares of the textile maker's stock after buying an additional 12,279 shares during the quarter. Principal Financial Group Inc. owned 1.23% of PVH worth $37,774,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Central Pacific Bank Trust Division raised its position in PVH by 9.6% in the 4th quarter. Central Pacific Bank Trust Division now owns 1,940 shares of the textile maker's stock worth $130,000 after buying an additional 170 shares during the last quarter. Osaic Holdings Inc. raised its position in PVH by 12.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,672 shares of the textile maker's stock worth $114,000 after buying an additional 184 shares during the last quarter. Assetmark Inc. raised its position in PVH by 22.5% in the 4th quarter. Assetmark Inc. now owns 1,568 shares of the textile maker's stock worth $105,000 after buying an additional 288 shares during the last quarter. Danske Bank A S purchased a new position in PVH in the 3rd quarter worth about $25,000. Finally, DAVENPORT & Co LLC raised its position in PVH by 5.9% in the 4th quarter. DAVENPORT & Co LLC now owns 5,696 shares of the textile maker's stock worth $382,000 after buying an additional 318 shares during the last quarter. Hedge funds and other institutional investors own 97.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PVH shares. Needham & Company LLC boosted their target price on PVH from $100.00 to $107.00 and gave the stock a "buy" rating in a research report on Wednesday, April 1st. BTIG Research reissued a "buy" rating and issued a $100.00 target price on shares of PVH in a research report on Wednesday, April 1st. The Goldman Sachs Group boosted their target price on PVH from $83.00 to $93.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Weiss Ratings upgraded PVH from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday. Finally, Wall Street Zen upgraded PVH from a "hold" rating to a "buy" rating in a research note on Sunday. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, PVH presently has an average rating of "Hold" and an average target price of $88.93.

PVH Trading Up 1.0%

PVH stock opened at $89.48 on Friday. The business has a 50-day simple moving average of $77.17 and a two-hundred day simple moving average of $74.06. The company has a market cap of $4.10 billion, a P/E ratio of 235.49, a P/E/G ratio of 0.98 and a beta of 1.73. PVH Corp. has a 52-week low of $59.60 and a 52-week high of $100.15. The company has a quick ratio of 0.85, a current ratio of 1.52 and a debt-to-equity ratio of 0.48.

PVH (NYSE:PVH - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The textile maker reported $3.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.30 by $0.52. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.43 billion. PVH had a return on equity of 11.55% and a net margin of 0.28%.The business's quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.27 EPS. Analysts predict that PVH Corp. will post 12.01 EPS for the current year.

PVH Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, June 3rd. PVH's dividend payout ratio is currently 39.47%.

PVH Profile

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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