Fmr LLC Cuts Stake in PVH Corp. (NYSE:PVH)

Fmr LLC decreased its holdings in PVH Corp. (NYSE:PVH) by 18.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,796,443 shares of the textile maker’s stock after selling 1,582,087 shares during the quarter. Fmr LLC owned about 0.12% of PVH worth $685,285,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Pacer Advisors Inc. grew its position in shares of PVH by 13,275.0% during the second quarter. Pacer Advisors Inc. now owns 1,222,207 shares of the textile maker’s stock worth $129,395,000 after buying an additional 1,213,069 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in PVH by 14.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,320,471 shares of the textile maker’s stock worth $245,668,000 after acquiring an additional 296,040 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in PVH by 6,471.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 289,139 shares of the textile maker’s stock worth $30,611,000 after acquiring an additional 284,739 shares in the last quarter. Pzena Investment Management LLC grew its holdings in PVH by 5.3% during the 2nd quarter. Pzena Investment Management LLC now owns 5,623,706 shares of the textile maker’s stock worth $595,382,000 after acquiring an additional 284,269 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of PVH in the 3rd quarter valued at $17,542,000. Hedge funds and other institutional investors own 97.25% of the company’s stock.

PVH Price Performance

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

PVH (NYSE:PVH) last announced its earnings results on Tuesday, August 27th. The textile maker reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.72. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.07 billion. PVH had a return on equity of 13.94% and a net margin of 8.37%. The company’s revenue was down 6.0% on a year-over-year basis. During the same period last year, the business posted $1.98 EPS. On average, equities research analysts anticipate that PVH Corp. will post 11.75 earnings per share for the current year.

PVH Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a $0.0375 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.15 annualized dividend and a yield of 0.14%. PVH’s dividend payout ratio is currently 1.19%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com lowered PVH from a “strong-buy” rating to a “buy” rating in a report on Friday, August 16th. Morgan Stanley dropped their price objective on PVH from $120.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, September 6th. Guggenheim decreased their target price on PVH from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Barclays lowered their price target on PVH from $154.00 to $142.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Finally, TD Cowen cut their price objective on shares of PVH from $149.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.