PNC Financial Services Group Inc. Cuts Stake in PVH Corp. (NYSE:PVH)

PNC Financial Services Group Inc. lessened its stake in PVH Corp. (NYSE:PVH) by 1.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,355 shares of the textile maker’s stock after selling 117 shares during the quarter. PNC Financial Services Group Inc.’s holdings in PVH were worth $943,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Altshuler Shaham Ltd purchased a new position in PVH during the 2nd quarter valued at approximately $25,000. Venturi Wealth Management LLC grew its holdings in shares of PVH by 63.9% in the third quarter. Venturi Wealth Management LLC now owns 272 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 106 shares in the last quarter. Covestor Ltd increased its position in PVH by 270.6% in the third quarter. Covestor Ltd now owns 404 shares of the textile maker’s stock worth $41,000 after purchasing an additional 295 shares during the last quarter. ORG Partners LLC purchased a new stake in PVH during the second quarter valued at $42,000. Finally, Allspring Global Investments Holdings LLC lifted its position in PVH by 116.3% during the third 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. Institutional investors own 97.25% of the company’s stock.

Analysts Set New Price Targets

PVH has been the topic of several recent research reports. Wells Fargo & Company decreased their target price on shares of PVH from $145.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. Morgan Stanley lowered their price objective on PVH from $120.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, September 6th. TD Cowen decreased their price target on PVH from $149.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Barclays lowered their price target on PVH from $154.00 to $142.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $130.00 target price on shares of PVH in a research note on Wednesday. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $126.53.

PVH Stock Performance

PVH stock opened at $106.88 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 1.24. The company has a market capitalization of $5.97 billion, a PE ratio of 8.48, a P/E/G ratio of 0.97 and a beta of 2.11. The company has a 50 day moving average price of $99.14 and a 200-day moving average price of $103.28. PVH Corp. has a fifty-two week low of $88.15 and a fifty-two week high of $141.15.

PVH (NYSE:PVH) last issued its 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 business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.07 billion. PVH had a return on equity of 13.94% and a net margin of 8.37%. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.98 EPS. As a group, equities analysts forecast that PVH Corp. will post 11.75 earnings per share for the current year.

PVH Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.0375 per share. 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 payout ratio is 1.19%.

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.