Wedge Capital Management L L P NC Raises Stock Holdings in PVH Corp. (NYSE:PVH)

Wedge Capital Management L L P NC boosted its position in PVH Corp. (NYSE:PVH - Free Report) by 60.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,132 shares of the textile maker's stock after acquiring an additional 14,331 shares during the period. Wedge Capital Management L L P NC owned 0.07% of PVH worth $2,465,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of PVH by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 627,655 shares of the textile maker's stock valued at $66,375,000 after purchasing an additional 4,645 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of PVH by 22.9% in the fourth quarter. Bank of New York Mellon Corp now owns 774,010 shares of the textile maker's stock valued at $81,852,000 after buying an additional 144,260 shares during the last quarter. Clark Estates Inc. NY bought a new stake in shares of PVH during the 4th quarter worth about $2,855,000. Citizens Financial Group Inc. RI bought a new stake in PVH in the 4th quarter valued at $466,000. Finally, Allspring Global Investments Holdings LLC increased its position in PVH by 179,164.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 760,080 shares of the textile maker's stock worth $79,705,000 after buying an additional 759,656 shares during the period. Institutional investors own 97.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Morgan Stanley dropped their target price on shares of PVH from $86.00 to $64.00 and set an "equal weight" rating for the company 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 for the company in a research report on Thursday, June 5th. Barclays lowered their price target on shares of PVH from $87.00 to $83.00 and set an "overweight" rating for the company in a report on Monday. Citigroup reissued a "neutral" rating and issued a $68.00 price objective (down previously from $83.00) on shares of PVH in a research note on Monday, April 7th. Finally, Wall Street Zen upgraded shares of PVH from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, PVH presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.27.

PVH Trading Up 1.2%

Shares of PVH stock traded up $0.80 on Wednesday, hitting $65.91. 1,646,716 shares of the company's stock traded hands, compared to its average volume of 1,087,090. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 5.37, a P/E/G ratio of 0.77 and a beta of 1.89. The company's fifty day simple moving average is $74.42 and its 200 day simple moving average is $83.95. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.69 and a current ratio of 1.29. PVH Corp. has a one year low of $59.28 and a one year high of $120.93.

PVH (NYSE:PVH - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The textile maker reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.06. PVH had a net margin of 8.13% and a return on equity of 13.66%. The business had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.93 billion. During the same quarter in the previous year, the business posted $2.45 earnings per share. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts forecast that PVH Corp. will post 11.67 EPS for the current year.

PVH Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Wednesday, June 4th. PVH's payout ratio is presently 2.12%.

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.