Victory Capital Management Inc. Decreases Stock Holdings in PVH Corp. (NYSE:PVH)

Victory Capital Management Inc. cut its position in PVH Corp. (NYSE:PVH - Free Report) by 75.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,113 shares of the textile maker's stock after selling 515,123 shares during the quarter. Victory Capital Management Inc. owned about 0.32% of PVH worth $10,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Edgestream Partners L.P. purchased a new stake in PVH in the 1st quarter worth approximately $2,473,000. Allworth Financial LP raised its position in shares of PVH by 78.2% during the 1st quarter. Allworth Financial LP now owns 930 shares of the textile maker's stock valued at $60,000 after buying an additional 408 shares in the last quarter. M&T Bank Corp raised its position in shares of PVH by 55.6% during the 1st quarter. M&T Bank Corp now owns 5,139 shares of the textile maker's stock valued at $332,000 after buying an additional 1,837 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of PVH by 37.9% during the 1st quarter. Crossmark Global Holdings Inc. now owns 55,634 shares of the textile maker's stock valued at $3,596,000 after buying an additional 15,295 shares in the last quarter. Finally, Peregrine Capital Management LLC raised its position in shares of PVH by 19.8% during the 1st quarter. Peregrine Capital Management LLC now owns 59,573 shares of the textile maker's stock valued at $3,851,000 after buying an additional 9,848 shares in the last quarter. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup restated a "neutral" rating and set a $68.00 price objective (down previously from $83.00) on shares of PVH in a research report on Monday, April 7th. Bank of America lowered their price objective on shares of PVH from $86.00 to $76.00 and set a "neutral" rating on the stock in a research report on Friday, June 6th. BMO Capital Markets lowered their price objective on shares of PVH from $93.00 to $84.00 and set a "market perform" rating on the stock in a research report on Thursday, June 5th. Morgan Stanley reduced their target price on shares of PVH from $86.00 to $64.00 and set an "equal weight" rating on the stock in a report on Friday, June 6th. Finally, TD Cowen reaffirmed a "hold" rating and set a $74.00 target price (down previously from $98.00) on shares of PVH in a report on Wednesday, July 9th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, PVH has an average rating of "Moderate Buy" and a consensus target price of $94.20.

Insider Activity

In other news, CEO Stefan Larsson bought 15,645 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was acquired at an average cost of $63.92 per share, with a total value of $1,000,028.40. Following the completion of the acquisition, the chief executive officer owned 269,438 shares of the company's stock, valued at approximately $17,222,476.96. This represents a 6.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jesper Andersen bought 600 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was purchased at an average cost of $66.10 per share, with a total value of $39,660.00. Following the completion of the acquisition, the director directly owned 736 shares of the company's stock, valued at approximately $48,649.60. The trade was a 441.18% increase in their position. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

PVH Trading Up 0.7%

Shares of NYSE:PVH traded up $0.56 on Friday, hitting $76.76. The company had a trading volume of 772,025 shares, compared to its average volume of 1,257,967. PVH Corp. has a 1 year low of $59.28 and a 1 year high of $113.47. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 1.57 and a beta of 1.81. The firm's 50-day simple moving average is $73.07 and its two-hundred day simple moving average is $75.46. 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 issued its quarterly earnings results on Wednesday, June 4th. The textile maker reported $2.30 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.93 billion. During the same period last year, the company posted $2.45 EPS. PVH's revenue was up 1.6% on a year-over-year basis. Equities analysts anticipate that PVH Corp. will post 11.67 earnings per share for the current fiscal year.

PVH Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were given a dividend of $0.0375 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.15 dividend on an annualized basis and a yield of 0.20%. PVH's dividend payout ratio (DPR) is currently 2.12%.

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.