Fifth Third Wealth Advisors LLC Makes New Investment in PVH Corp. (NYSE:PVH)

Fifth Third Wealth Advisors LLC purchased a new position in shares of PVH Corp. (NYSE:PVH) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,623 shares of the textile maker’s stock, valued at approximately $228,000.

A number of other large investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in shares of PVH by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,069,531 shares of the textile maker’s stock worth $374,855,000 after buying an additional 115,731 shares during the last quarter. LSV Asset Management increased its holdings in shares of PVH by 1.3% during the 4th quarter. LSV Asset Management now owns 809,930 shares of the textile maker’s stock worth $98,909,000 after buying an additional 10,194 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of PVH by 28.6% during the 4th quarter. Victory Capital Management Inc. now owns 624,132 shares of the textile maker’s stock worth $76,219,000 after buying an additional 138,952 shares during the last quarter. Channing Capital Management LLC increased its holdings in shares of PVH by 648.1% during the 4th quarter. Channing Capital Management LLC now owns 581,289 shares of the textile maker’s stock worth $70,987,000 after buying an additional 503,586 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of PVH by 51.6% during the 3rd quarter. Invesco Ltd. now owns 422,584 shares of the textile maker’s stock worth $32,332,000 after buying an additional 143,832 shares during the last quarter. Hedge funds and other institutional investors own 97.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PVH. Wells Fargo & Company upped their price objective on PVH from $138.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, June 6th. StockNews.com upgraded PVH from a “buy” rating to a “strong-buy” rating in a report on Friday, June 21st. UBS Group increased their price target on PVH from $158.00 to $159.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. BMO Capital Markets increased their price target on PVH from $110.00 to $119.00 and gave the company a “market perform” rating in a report on Wednesday, June 5th. Finally, Bank of America increased their price target on PVH from $122.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.81.

PVH Stock Down 1.0 %

Shares of PVH stock traded down $1.06 during trading hours on Friday, hitting $105.87. 1,187,953 shares of the company were exchanged, compared to its average volume of 913,857. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 1.55. PVH Corp. has a one year low of $69.27 and a one year high of $141.15. The business’s 50-day simple moving average is $114.24 and its two-hundred day simple moving average is $120.53. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 9.37, a P/E/G ratio of 0.85 and a beta of 2.15.

PVH (NYSE:PVH) last issued its earnings results on Tuesday, June 4th. The textile maker reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.31. PVH had a net margin of 7.53% and a return on equity of 13.14%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter last year, the company posted $2.14 earnings per share. PVH’s revenue was down 9.5% on a year-over-year basis. Sell-side analysts predict that PVH Corp. will post 11.26 EPS for the current fiscal year.

PVH Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th were issued a $0.0375 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. PVH’s dividend payout ratio is currently 1.33%.

PVH announced that its board has authorized a share buyback plan on Monday, April 1st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the textile maker to reacquire up to 24% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other PVH news, EVP James Holmes sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $108.39, for a total value of $325,170.00. Following the transaction, the executive vice president now owns 13,904 shares of the company’s stock, valued at $1,507,054.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

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.