Geode Capital Management LLC Lowers Position in PVH Corp. (NYSE:PVH)

Geode Capital Management LLC trimmed its stake in shares of PVH Corp. (NYSE:PVH) by 0.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 960,993 shares of the textile maker’s stock after selling 4,104 shares during the period. Geode Capital Management LLC’s holdings in PVH were worth $96,923,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PVH. Scientech Research LLC grew its position in shares of PVH by 608.6% during the second quarter. Scientech Research LLC now owns 11,344 shares of the textile maker’s stock valued at $1,201,000 after purchasing an additional 9,743 shares in the last quarter. American Century Companies Inc. boosted its stake in PVH by 37.4% during the second quarter. American Century Companies Inc. now owns 80,021 shares of the textile maker’s stock valued at $8,472,000 after buying an additional 21,790 shares during the last quarter. Renaissance Technologies LLC purchased a new position in PVH during the 2nd quarter valued at approximately $6,995,000. Sei Investments Co. increased its stake in PVH by 30.1% in the 2nd quarter. Sei Investments Co. now owns 160,058 shares of the textile maker’s stock worth $16,946,000 after acquiring an additional 37,012 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in shares of PVH during the 3rd quarter worth approximately $1,997,000. 97.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of PVH from $144.00 to $124.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Bank of America downgraded shares of PVH from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $130.00 to $107.00 in a report on Wednesday, October 2nd. Barclays lifted their price target on PVH from $142.00 to $144.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. TD Cowen decreased their price objective on PVH from $149.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $130.00 target price on shares of PVH in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $128.00.

PVH Stock Performance

Shares of PVH stock opened at $106.06 on Thursday. PVH Corp. has a 52 week low of $89.56 and a 52 week high of $141.15. The company has a market capitalization of $5.90 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 1.10 and a beta of 2.10. The stock’s fifty day moving average is $102.69 and its two-hundred day moving average is $102.67. The company has a quick ratio of 0.69, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

PVH (NYSE:PVH) last posted its quarterly earnings results on Wednesday, December 4th. The textile maker reported $3.03 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.44. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.22 billion. PVH had a net margin of 8.13% and a return on equity of 13.66%. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.90 earnings per share. As a group, analysts expect that PVH Corp. will post 11.68 earnings per share for the current year.

PVH Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were issued a $0.0375 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. PVH’s payout ratio is 1.22%.

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.