Federated Hermes Inc. Reduces Stock Position in PVH Corp. (NYSE:PVH)

Federated Hermes Inc. decreased its holdings in PVH Corp. (NYSE:PVH) by 30.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 397,249 shares of the textile maker’s stock after selling 170,397 shares during the period. Federated Hermes Inc.’s holdings in PVH were worth $48,512,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PVH. Zurcher Kantonalbank Zurich Cantonalbank raised its position in PVH by 7.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,009 shares of the textile maker’s stock valued at $1,589,000 after purchasing an additional 930 shares in the last quarter. Mackenzie Financial Corp grew its holdings in PVH by 223.0% during the 4th quarter. Mackenzie Financial Corp now owns 102,929 shares of the textile maker’s stock worth $12,570,000 after acquiring an additional 71,060 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in PVH during the 4th quarter valued at about $1,895,000. Louisiana State Employees Retirement System bought a new stake in shares of PVH in the 4th quarter valued at about $2,076,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of PVH by 2,600.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 270 shares of the textile maker’s stock worth $33,000 after purchasing an additional 260 shares during the period. 97.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on PVH shares. UBS Group upped their target price on PVH from $158.00 to $159.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Telsey Advisory Group cut their target price on PVH from $155.00 to $140.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 2nd. Citigroup decreased their price target on shares of PVH from $139.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, April 3rd. Wedbush raised shares of PVH from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $113.00 to $128.00 in a research report on Monday, April 15th. Finally, Morgan Stanley lowered their target price on shares of PVH from $134.00 to $110.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.40.

Insider Activity

In related news, EVP James Holmes sold 3,000 shares of PVH stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $108.39, for a total value of $325,170.00. Following the sale, the executive vice president now owns 13,904 shares of the company’s stock, valued at approximately $1,507,054.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.78% of the company’s stock.

PVH Stock Up 0.4 %

PVH stock opened at $106.78 on Friday. The firm’s fifty day simple moving average is $126.78 and its 200-day simple moving average is $109.30. The company has a market capitalization of $6.16 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 1.01 and a beta of 2.20. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.18 and a quick ratio of 0.66. PVH Corp. has a 12 month low of $69.27 and a 12 month high of $141.15.

PVH (NYSE:PVH) last released its quarterly earnings data on Tuesday, April 2nd. The textile maker reported $3.72 EPS for the quarter, topping the consensus estimate of $3.51 by $0.21. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.42 billion. PVH had a return on equity of 12.96% and a net margin of 7.20%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.38 EPS. As a group, equities research analysts forecast that PVH Corp. will post 10.93 earnings per share for the current year.

PVH Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.0375 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. PVH’s dividend payout ratio is currently 1.38%.

PVH declared that its board has authorized a share buyback program on Monday, April 1st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the textile maker to purchase up to 24% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.