Covestor Ltd Acquires 295 Shares of PVH Corp. (NYSE:PVH)

Covestor Ltd grew its holdings in shares of PVH Corp. (NYSE:PVH) by 270.6% in the third quarter, HoldingsChannel reports. The fund owned 404 shares of the textile maker’s stock after purchasing an additional 295 shares during the quarter. Covestor Ltd’s holdings in PVH were worth $41,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of PVH. Pacer Advisors Inc. boosted its holdings in PVH by 13,275.0% in the 2nd 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 during the period. Massachusetts Financial Services Co. MA raised its position in shares of PVH by 14.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,320,471 shares of the textile maker’s stock valued at $245,668,000 after buying an additional 296,040 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of 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 valued at $30,611,000 after buying an additional 284,739 shares in the last quarter. Pzena Investment Management LLC raised its position in shares of PVH by 5.3% during the 2nd quarter. Pzena Investment Management LLC now owns 5,623,706 shares of the textile maker’s stock valued at $595,382,000 after buying an additional 284,269 shares in the last quarter. Finally, Swedbank AB bought a new position in PVH during the 3rd quarter valued at about $17,542,000. Institutional investors own 97.25% of the company’s stock.

Analyst Ratings Changes

PVH has been the topic of several analyst reports. Telsey Advisory Group cut their price target on shares of PVH from $140.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Barclays dropped their price objective on shares of PVH from $154.00 to $142.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. Bank of America cut shares of PVH from a “buy” rating to a “neutral” rating and decreased their target price for the company from $130.00 to $107.00 in a research report on Wednesday, October 2nd. Guggenheim decreased their target price on shares of PVH from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, The Goldman Sachs Group decreased their price target on shares of PVH from $144.00 to $124.00 and set a “buy” rating for the company 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.53.

PVH Stock Down 1.7 %

Shares of NYSE PVH opened at $102.09 on Friday. The company’s 50-day simple moving average is $97.87 and its 200-day simple moving average is $103.90. The company has a quick ratio of 0.66, a current ratio of 1.24 and a debt-to-equity ratio of 0.32. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 8.10, a price-to-earnings-growth ratio of 0.93 and a beta of 2.11. PVH Corp. has a 52-week low of $81.93 and a 52-week high of $141.15.

PVH (NYSE:PVH) last posted its quarterly earnings results on Tuesday, August 27th. The textile maker reported $3.01 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.72. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.07 billion. PVH had a net margin of 8.37% and a return on equity of 13.94%. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the firm posted $1.98 earnings per share. Equities analysts predict that PVH Corp. will post 11.66 EPS for the current fiscal year.

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 dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Wednesday, November 27th. PVH’s dividend payout ratio (DPR) is presently 1.19%.

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.