PVH Corp. (NYSE:PVH) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in PVH Corp. (NYSE:PVH) by 2,600.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 270 shares of the textile maker’s stock after buying an additional 260 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PVH were worth $33,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PVH. International Assets Investment Management LLC lifted its stake in shares of PVH by 10,839.9% during the fourth quarter. International Assets Investment Management LLC now owns 36,758 shares of the textile maker’s stock worth $4,489,000 after buying an additional 36,422 shares during the period. OPTIMAS CAPITAL Ltd acquired a new stake in PVH during the 4th quarter worth about $2,821,000. Planned Solutions Inc. acquired a new stake in PVH during the 4th quarter worth about $130,000. Fort Washington Investment Advisors Inc. OH purchased a new stake in PVH during the 4th quarter valued at about $13,569,000. Finally, Pacer Advisors Inc. increased its holdings in shares of PVH by 72.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,076 shares of the textile maker’s stock valued at $1,108,000 after purchasing an additional 3,813 shares during the period. Institutional investors and hedge funds own 97.25% of the company’s stock.

PVH Price Performance

PVH stock opened at $108.80 on Wednesday. The stock has a market capitalization of $6.28 billion, a P/E ratio of 10.03, a P/E/G ratio of 1.06 and a beta of 2.20. The company’s fifty day moving average price is $124.64 and its 200 day moving average price is $111.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 1.18. PVH Corp. has a 1 year low of $69.27 and a 1 year high of $141.15.

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

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

PVH Announces Dividend

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

Insider Activity

In related news, EVP James Holmes sold 3,000 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $108.39, for a total value of $325,170.00. Following the completion of the transaction, the executive vice president now directly 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 SEC, which can be accessed through the SEC website. Company insiders own 0.78% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PVH. TD Cowen lifted their target price on PVH from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Citigroup dropped their price objective on shares of PVH from $139.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, April 3rd. Wedbush raised shares of PVH from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $113.00 to $128.00 in a report on Monday, April 15th. Guggenheim upped their price target on shares of PVH from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Jefferies Financial Group assumed coverage on PVH in a research report on Tuesday. They set a “hold” rating and a $115.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $128.50.

About PVH

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.