Vanguard Group Inc. Reduces Holdings in PVH Corp. $PVH

Key Points

• Vanguard trimmed its PVH stake by 0.9% in Q4, selling 43,872 shares and leaving it with 4,791,690 shares (10.46% of the company) valued at about $321.1 million, while institutional investors collectively own 97.25% of PVH.
• Analyst coverage is mixed: seven Buys, nine Holds and one Sell leave an average rating of "Hold" with an average price target of $88.93, amid recent divergent target revisions from firms like UBS, Jefferies, Needham and Goldman Sachs.
• Operationally PVH beat estimates for the quarter with EPS $3.82 vs. $3.30 and revenue $2.51B vs. $2.43B (revenue +5.6% YoY), and announced a quarterly dividend of $0.0375 (annualized $0.15, yield ~0.2%; ex-dividend June 3).

Vanguard Group Inc. lessened its position in shares of PVH Corp. (NYSE:PVH - Free Report) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,791,690 shares of the textile maker's stock after selling 43,872 shares during the period. Vanguard Group Inc. owned 10.46% of PVH worth $321,139,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PVH. LSV Asset Management lifted its holdings in PVH by 47.8% during the 3rd quarter. LSV Asset Management now owns 1,963,303 shares of the textile maker's stock worth $164,466,000 after purchasing an additional 634,887 shares in the last quarter. Barclays PLC lifted its holdings in PVH by 68.4% during the 3rd quarter. Barclays PLC now owns 1,197,009 shares of the textile maker's stock worth $100,273,000 after purchasing an additional 486,210 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in PVH by 79.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 553,500 shares of the textile maker's stock worth $35,778,000 after purchasing an additional 245,740 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in PVH during the 3rd quarter worth about $18,167,000. Finally, American Century Companies Inc. lifted its holdings in PVH by 19.9% during the 3rd quarter. American Century Companies Inc. now owns 1,270,040 shares of the textile maker's stock worth $106,391,000 after purchasing an additional 210,885 shares in the last quarter. Hedge funds and other institutional investors own 97.25% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Jefferies Financial Group dropped their price objective on PVH from $85.00 to $80.00 and set a "buy" rating on the stock in a report on Tuesday, January 27th. Needham & Company LLC increased their price objective on PVH from $100.00 to $107.00 and gave the stock a "buy" rating in a report on Wednesday, April 1st. BTIG Research reissued a "buy" rating and set a $100.00 price objective on shares of PVH in a report on Wednesday, April 1st. UBS Group decreased their target price on PVH from $148.00 to $120.00 and set a "buy" rating on the stock in a research note on Friday, March 6th. Finally, The Goldman Sachs Group upped their target price on PVH from $83.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $88.93.

PVH Price Performance

Shares of PVH stock opened at $88.54 on Friday. The company has a current ratio of 1.52, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $4.06 billion, a PE ratio of 232.99, a price-to-earnings-growth ratio of 1.01 and a beta of 1.73. The business's 50-day moving average price is $77.17 and its 200-day moving average price is $74.06. PVH Corp. has a 12 month low of $59.60 and a 12 month high of $100.15.

PVH (NYSE:PVH - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The textile maker reported $3.82 EPS for the quarter, beating the consensus estimate of $3.30 by $0.52. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.43 billion. PVH had a return on equity of 11.55% and a net margin of 0.28%.The company's revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.27 EPS. Sell-side analysts forecast that PVH Corp. will post 12.06 EPS for the current fiscal year.

PVH Announces Dividend

The business 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 dividend of $0.0375 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $0.15 annualized dividend and a yield of 0.2%. PVH's dividend payout ratio is currently 39.47%.

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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