Franklin Resources Inc. Raises Position in PVH Corp. (NYSE:PVH)

Franklin Resources Inc. grew its position in PVH Corp. (NYSE:PVH) by 54.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 428,102 shares of the textile maker’s stock after acquiring an additional 151,687 shares during the quarter. Franklin Resources Inc. owned about 0.77% of PVH worth $45,272,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PVH. Charles Schwab Investment Management Inc. lifted its holdings in PVH by 0.7% in the 4th 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 boosted its position in PVH by 22.9% during the fourth quarter. Bank of New York Mellon Corp now owns 774,010 shares of the textile maker’s stock worth $81,852,000 after acquiring an additional 144,260 shares during the last quarter. Clark Estates Inc. NY acquired a new position in PVH during the fourth quarter worth about $2,855,000. Citizens Financial Group Inc. RI acquired a new stake in PVH in the 4th quarter valued at about $466,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in PVH by 179,164.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 760,080 shares of the textile maker’s stock worth $79,705,000 after purchasing an additional 759,656 shares in the last quarter. 97.25% of the stock is owned by institutional investors and hedge funds.

PVH Stock Up 3.0 %

NYSE:PVH opened at $67.61 on Friday. PVH Corp. has a 52 week low of $61.59 and a 52 week high of $124.68. The company has a quick ratio of 0.69, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average is $74.52 and its two-hundred day moving average is $92.10. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 5.51, a price-to-earnings-growth ratio of 0.77 and a beta of 1.89.

PVH (NYSE:PVH) last announced its earnings results on Monday, March 31st. The textile maker reported $3.27 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.08. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.34 billion. PVH had a return on equity of 13.66% and a net margin of 8.13%. PVH’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period last year, the business posted $3.72 EPS. Research analysts anticipate that PVH Corp. will post 11.67 EPS for the current year.

PVH Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend was Wednesday, March 5th. PVH’s dividend payout ratio is currently 1.42%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PVH. Guggenheim increased their price target on PVH from $105.00 to $125.00 and gave the company a “buy” rating in a report on Friday, December 6th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $90.00 target price on shares of PVH in a research note on Tuesday. Wells Fargo & Company lowered PVH from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $130.00 to $105.00 in a report on Monday, February 3rd. BMO Capital Markets dropped their price objective on shares of PVH from $106.00 to $93.00 and set a “market perform” rating for the company in a report on Tuesday. Finally, Jefferies Financial Group reduced their target price on shares of PVH from $101.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, PVH currently has an average rating of “Moderate Buy” and an average target price of $107.40.

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.