Edgestream Partners L.P. Acquires New Position in PVH Corp. (NYSE:PVH)

Edgestream Partners L.P. acquired a new stake in PVH Corp. (NYSE:PVH) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 29,665 shares of the textile maker’s stock, valued at approximately $2,991,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC raised its stake in PVH by 0.6% in the 3rd quarter. Pzena Investment Management LLC now owns 5,656,006 shares of the textile maker’s stock valued at $570,295,000 after acquiring an additional 32,300 shares during the period. Dimensional Fund Advisors LP grew its holdings in PVH by 1.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,148,855 shares of the textile maker’s stock valued at $333,375,000 after buying an additional 55,293 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in PVH by 9.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,529,119 shares of the textile maker’s stock valued at $255,011,000 after buying an additional 208,648 shares in the last quarter. Pacer Advisors Inc. grew its holdings in PVH by 39.6% during the 3rd quarter. Pacer Advisors Inc. now owns 1,705,717 shares of the textile maker’s stock valued at $171,987,000 after buying an additional 483,510 shares in the last quarter. Finally, LSV Asset Management grew its holdings in PVH by 15.7% during the 2nd quarter. LSV Asset Management now owns 916,002 shares of the textile maker’s stock valued at $96,977,000 after buying an additional 124,309 shares in the last quarter. 97.25% of the stock is currently owned by institutional investors.

PVH Stock Up 1.4 %

Shares of PVH opened at $108.37 on Monday. The firm has a market cap of $6.05 billion, a P/E ratio of 8.60, a P/E/G ratio of 0.97 and a beta of 2.11. The stock has a 50 day simple moving average of $99.55 and a two-hundred day simple moving average of $103.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.24 and a quick ratio of 0.66. PVH Corp. has a 1 year low of $89.10 and a 1 year high of $141.15.

PVH Announces Dividend

The company also recently announced 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. This represents a $0.15 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Wednesday, November 27th. PVH’s dividend payout ratio is currently 1.19%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. TD Cowen reduced their target price on PVH from $149.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Morgan Stanley reduced their target price on PVH from $120.00 to $100.00 and set an “equal weight” rating for the company in a report on Friday, September 6th. The Goldman Sachs Group reduced their target price on PVH from $144.00 to $124.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Wells Fargo & Company reduced their target price on PVH from $145.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Finally, StockNews.com lowered PVH from a “strong-buy” rating to a “buy” rating in a report on Friday, August 16th. 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $126.53.

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.