PVH Corp. (NYSE:PVH) Shares Acquired by LSV Asset Management

Key Points

• LSV Asset Management increased its stake in PVH Corp. by 10.7%, owning approximately 2.52% of the company with a total investment of $85.8 million as of the latest SEC filing.
• Several analysts have downgraded PVH's price targets, with notable cuts from BMO Capital Markets and Morgan Stanley, reflecting cautious market sentiment.
• PVH reported a quarterly earnings per share of $2.30, exceeding analyst expectations, with revenues reaching $1.98 billion, marking a 1.6% year-over-year increase.

LSV Asset Management raised its position in shares of PVH Corp. (NYSE:PVH - Free Report) by 10.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,327,797 shares of the textile maker's stock after acquiring an additional 128,559 shares during the quarter. LSV Asset Management owned approximately 2.52% of PVH worth $85,829,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Alberta Investment Management Corp raised its holdings in shares of PVH by 41.5% during the first quarter. Alberta Investment Management Corp now owns 34,393 shares of the textile maker's stock valued at $2,223,000 after acquiring an additional 10,093 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of PVH in the first quarter valued at approximately $205,000. Federated Hermes Inc. increased its holdings in shares of PVH by 2.1% in the first quarter. Federated Hermes Inc. now owns 257,946 shares of the textile maker's stock valued at $16,674,000 after purchasing an additional 5,268 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of PVH by 87.4% in the first quarter. Mackenzie Financial Corp now owns 111,230 shares of the textile maker's stock valued at $7,190,000 after purchasing an additional 51,869 shares during the last quarter. Finally, LPL Financial LLC increased its holdings in shares of PVH by 321.0% in the first quarter. LPL Financial LLC now owns 23,454 shares of the textile maker's stock valued at $1,516,000 after purchasing an additional 17,883 shares during the last quarter. Institutional investors and hedge funds own 97.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PVH. BMO Capital Markets cut their price target on PVH from $93.00 to $84.00 and set a "market perform" rating for the company in a report on Thursday, June 5th. Evercore ISI cut their price target on PVH from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Thursday, June 5th. Morgan Stanley cut their price target on PVH from $86.00 to $64.00 and set an "equal weight" rating for the company in a report on Friday, June 6th. Wells Fargo & Company cut their price target on PVH from $100.00 to $80.00 and set an "equal weight" rating for the company in a report on Thursday, June 5th. Finally, Citigroup reiterated a "neutral" rating and issued a $68.00 price objective (down from $83.00) on shares of PVH in a research report on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, PVH has an average rating of "Moderate Buy" and an average target price of $93.40.

PVH Trading Down 2.9%

PVH opened at $71.31 on Friday. PVH Corp. has a 52 week low of $59.28 and a 52 week high of $113.47. The business has a fifty day simple moving average of $72.12 and a 200-day simple moving average of $74.37. The firm has a market cap of $3.43 billion, a P/E ratio of 10.06, a P/E/G ratio of 1.47 and a beta of 1.84. 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 results on Wednesday, June 4th. The textile maker reported $2.30 EPS for the quarter, topping the consensus estimate of $2.24 by $0.06. PVH had a return on equity of 12.66% and a net margin of 4.63%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period last year, the business posted $2.45 earnings per share. The company's quarterly revenue was up 1.6% on a year-over-year basis. On average, equities analysts expect that PVH Corp. will post 11.67 earnings per share for the current year.

Insider Buying and Selling at PVH

In other news, CEO Stefan Larsson purchased 15,645 shares of the stock in a transaction dated Thursday, June 26th. The stock was acquired at an average cost of $63.92 per share, for a total transaction of $1,000,028.40. Following the completion of the transaction, the chief executive officer directly owned 269,438 shares in the company, valued at approximately $17,222,476.96. This represents a 6.16% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jesper Andersen purchased 600 shares of the stock in a transaction dated Wednesday, June 11th. The shares were purchased at an average price of $66.10 per share, with a total value of $39,660.00. Following the completion of the transaction, the director owned 736 shares of the company's stock, 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. Company insiders own 1.20% of the company's stock.

PVH 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.

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