Sound Shore Management Inc. CT Cuts Stake in PVH Corp. (NYSE:PVH)

Sound Shore Management Inc. CT lowered its holdings in shares of PVH Corp. (NYSE:PVH) by 10.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 882,217 shares of the textile maker’s stock after selling 105,756 shares during the quarter. PVH comprises about 3.1% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 6th biggest position. Sound Shore Management Inc. CT owned approximately 1.59% of PVH worth $93,294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PVH. UMB Bank n.a. raised its holdings in shares of PVH by 78.5% during the 4th quarter. UMB Bank n.a. now owns 282 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 124 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of PVH during the 4th quarter valued at $41,000. Allworth Financial LP bought a new position in PVH in the 4th quarter worth $50,000. GAMMA Investing LLC raised its holdings in PVH by 36.0% in the 4th quarter. GAMMA Investing LLC now owns 487 shares of the textile maker’s stock worth $52,000 after acquiring an additional 129 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in PVH by 96.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 617 shares of the textile maker’s stock worth $65,000 after acquiring an additional 303 shares during the period. Institutional investors own 97.25% of the company’s stock.

Wall Street Analysts Forecast Growth

PVH has been the topic of several recent analyst reports. Jefferies Financial Group dropped their target price on shares of PVH from $104.00 to $101.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. JPMorgan Chase & Co. downgraded shares of PVH from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $149.00 to $113.00 in a report on Friday, January 24th. Barclays dropped their target price on shares of PVH from $144.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. The Goldman Sachs Group dropped their target price on shares of PVH from $128.00 to $109.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, Morgan Stanley decreased their price target on shares of PVH from $103.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.13.

Insider Buying and Selling at PVH

In other PVH news, EVP Mark D. Fischer sold 3,186 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $105.50, for a total value of $336,123.00. Following the transaction, the executive vice president now directly owns 23,103 shares in the company, valued at $2,437,366.50. The trade was a 12.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

PVH Price Performance

Shares of PVH stock opened at $65.00 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.69 and a current ratio of 1.29. The firm’s 50-day simple moving average is $79.85 and its 200-day simple moving average is $93.90. PVH Corp. has a twelve month low of $62.94 and a twelve month high of $141.15. The firm has a market cap of $3.62 billion, a P/E ratio of 5.29, a price-to-earnings-growth ratio of 0.77 and a beta of 2.10.

PVH Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be given a $0.0375 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.15 dividend on an annualized basis and a yield of 0.23%. PVH’s dividend payout ratio (DPR) is presently 1.22%.

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.