Federated Hermes Inc. Sells 170,397 Shares of PVH Corp. (NYSE:PVH)

Federated Hermes Inc. lessened its stake in PVH Corp. (NYSE:PVH) by 30.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 397,249 shares of the textile maker’s stock after selling 170,397 shares during the quarter. Federated Hermes Inc. owned approximately 0.67% of PVH worth $48,512,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Raymond James & Associates grew its stake in shares of PVH by 20.3% in the 1st quarter. Raymond James & Associates now owns 19,681 shares of the textile maker’s stock worth $1,508,000 after acquiring an additional 3,326 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of PVH by 17.8% during the 1st quarter. HighTower Advisors LLC now owns 6,146 shares of the textile maker’s stock worth $472,000 after buying an additional 930 shares in the last quarter. Citigroup Inc. boosted its stake in shares of PVH by 29.2% in the 1st quarter. Citigroup Inc. now owns 35,739 shares of the textile maker’s stock worth $2,738,000 after buying an additional 8,081 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of PVH by 2.0% in the first quarter. PNC Financial Services Group Inc. now owns 11,444 shares of the textile maker’s stock valued at $877,000 after acquiring an additional 226 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in PVH by 21.3% during the first quarter. MetLife Investment Management LLC now owns 19,033 shares of the textile maker’s stock worth $1,458,000 after acquiring an additional 3,336 shares during the period. Institutional investors own 97.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on PVH from $146.00 to $157.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Citigroup decreased their price objective on shares of PVH from $139.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, April 3rd. Wedbush upgraded shares of PVH from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $113.00 to $128.00 in a research note on Monday, April 15th. Guggenheim increased their target price on shares of PVH from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, Telsey Advisory Group lowered their price target on shares of PVH from $155.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PVH presently has an average rating of “Moderate Buy” and an average target price of $129.40.

Insiders Place Their Bets

In other news, EVP James Holmes sold 3,000 shares of PVH stock in a transaction dated Thursday, April 11th. The stock was 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 in the company, valued at $1,507,054.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.78% of the company’s stock.

PVH Stock Up 0.4 %

Shares of NYSE PVH opened at $106.78 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average of $126.78 and a 200-day moving average of $109.30. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 1.01 and a beta of 2.20. PVH Corp. has a 12 month low of $69.27 and a 12 month high of $141.15.

PVH (NYSE:PVH) last posted its quarterly earnings data on Tuesday, April 2nd. The textile maker reported $3.72 earnings per share 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 firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter last year, the company posted $2.38 EPS. The business’s quarterly revenue was up .0% on a year-over-year basis. Sell-side analysts expect that PVH Corp. will post 10.93 earnings per share for the current fiscal year.

PVH Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors 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 dividend payout ratio is 1.38%.

PVH declared that its Board of Directors has initiated a stock repurchase program on Monday, April 1st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the textile maker to purchase up to 24% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.