Fmr LLC Lowers Stock Holdings in PVH Corp. (NYSE:PVH)

Fmr LLC cut its holdings in PVH Corp. (NYSE:PVH) by 18.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,796,443 shares of the textile maker’s stock after selling 1,582,087 shares during the quarter. Fmr LLC owned 12.18% of PVH worth $685,285,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Qsemble Capital Management LP purchased a new stake in shares of PVH during the third quarter worth about $1,240,000. Bank of Montreal Can increased its stake in PVH by 775.4% during the 3rd quarter. Bank of Montreal Can now owns 88,678 shares of the textile maker’s stock worth $8,906,000 after buying an additional 78,548 shares in the last quarter. Swedbank AB acquired a new position in shares of PVH during the third quarter valued at approximately $17,542,000. Eagle Asset Management Inc. lifted its position in shares of PVH by 18.7% in the third quarter. Eagle Asset Management Inc. now owns 14,491 shares of the textile maker’s stock valued at $1,510,000 after acquiring an additional 2,286 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of PVH by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 623,010 shares of the textile maker’s stock valued at $62,818,000 after acquiring an additional 3,745 shares in the last quarter. 97.25% of the stock is owned by institutional investors and hedge funds.

PVH Stock Down 0.6 %

Shares of NYSE:PVH opened at $106.88 on Friday. The business has a 50-day moving average price of $99.14 and a 200 day moving average price of $103.28. PVH Corp. has a 12-month low of $88.15 and a 12-month high of $141.15. The company has a current ratio of 1.24, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 0.97 and a beta of 2.11.

PVH (NYSE:PVH) last released its quarterly earnings results on Tuesday, August 27th. The textile maker reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.72. PVH had a net margin of 8.37% and a return on equity of 13.94%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm earned $1.98 EPS. The business’s revenue was down 6.0% on a year-over-year basis. Sell-side analysts expect that PVH Corp. will post 11.75 EPS for the current year.

PVH Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Wednesday, November 27th. PVH’s dividend payout ratio (DPR) is 1.19%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PVH. The Goldman Sachs Group reduced their price objective on PVH from $144.00 to $124.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Wells Fargo & Company reduced their target price on shares of PVH from $145.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. Bank of America lowered shares of PVH from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $130.00 to $107.00 in a research report on Wednesday, October 2nd. TD Cowen cut their price objective on shares of PVH from $149.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Barclays lowered their target price on PVH from $154.00 to $142.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $126.53.

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.