M&T Bank Corp Has $299,000 Stock Position in PVH Corp. (NYSE:PVH)

M&T Bank Corp lessened its stake in PVH Corp. (NYSE:PVH) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,962 shares of the textile maker’s stock after selling 243 shares during the quarter. M&T Bank Corp’s holdings in PVH were worth $299,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Altshuler Shaham Ltd bought a new stake in PVH during the second quarter worth $25,000. Venturi Wealth Management LLC increased its stake in shares of PVH by 63.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 272 shares of the textile maker’s stock worth $27,000 after purchasing an additional 106 shares during the last quarter. Covestor Ltd raised its holdings in shares of PVH by 270.6% in the 3rd quarter. Covestor Ltd now owns 404 shares of the textile maker’s stock valued at $41,000 after purchasing an additional 295 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in PVH by 116.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 424 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 228 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in PVH in the 3rd quarter valued at about $67,000. 97.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PVH has been the topic of a number of recent analyst reports. Bank of America downgraded PVH from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $130.00 to $107.00 in a research report on Wednesday, October 2nd. The Goldman Sachs Group decreased their target price on PVH from $144.00 to $124.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Barclays raised their price target on PVH from $142.00 to $144.00 and gave the company an “overweight” rating in a report on Monday, December 9th. TD Cowen decreased 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. Finally, BMO Capital Markets cut their target price on shares of PVH from $119.00 to $106.00 and set a “market perform” rating for the company in a research note on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.00.

PVH Stock Performance

NYSE PVH opened at $106.06 on Thursday. The firm has a 50-day moving average price of $102.69 and a two-hundred day moving average price of $102.67. PVH Corp. has a 12-month low of $89.56 and a 12-month high of $141.15. The company has a market capitalization of $5.90 billion, a P/E ratio of 8.64, a P/E/G ratio of 1.10 and a beta of 2.10. The company has a quick ratio of 0.69, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

PVH (NYSE:PVH) last released its quarterly earnings results on Wednesday, December 4th. The textile maker reported $3.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.44. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.22 billion. PVH had a net margin of 8.13% and a return on equity of 13.66%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.90 earnings per share. Analysts anticipate that PVH Corp. will post 11.68 earnings per share for the current year.

PVH Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were given a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Wednesday, November 27th. PVH’s payout ratio is currently 1.22%.

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.