Renaissance Technologies LLC Sells 51,000 Shares of PVH Corp. (NYSE:PVH)

Posted by Defense World Staff on Mar 5th, 2023

PVH logo Renaissance Technologies LLC lowered its position in PVH Corp. (NYSE:PVH – Get Rating) by 15.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 278,170 shares of the textile maker’s stock after selling 51,000 shares during the period. Renaissance Technologies LLC owned 0.43% of PVH worth $12,462,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PVH. Southeastern Asset Management Inc. TN bought a new position in shares of PVH in the second quarter valued at approximately $121,380,000. Point72 Asset Management L.P. raised its position in PVH by 728.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,053,860 shares of the textile maker’s stock worth $59,965,000 after purchasing an additional 926,680 shares during the last quarter. AQR Capital Management LLC raised its position in PVH by 119.5% in the 2nd quarter. AQR Capital Management LLC now owns 894,415 shares of the textile maker’s stock worth $50,043,000 after purchasing an additional 486,888 shares during the last quarter. Victory Capital Management Inc. raised its position in PVH by 7,668.4% in the 3rd quarter. Victory Capital Management Inc. now owns 427,340 shares of the textile maker’s stock worth $19,145,000 after purchasing an additional 421,839 shares during the last quarter. Finally, Towle & Co bought a new position in PVH in the 2nd quarter worth approximately $21,488,000. Institutional investors own 93.50% of the company’s stock.

PVH Price Performance

Shares of NYSE PVH opened at $83.23 on Friday. The firm has a market cap of $5.27 billion, a PE ratio of 13.19, a PEG ratio of 0.89 and a beta of 2.07. The company has a current ratio of 1.35, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44. PVH Corp. has a 1-year low of $43.49 and a 1-year high of $94.51. The company has a fifty day moving average price of $82.08 and a 200 day moving average price of $66.62.

PVH (NYSE:PVH – Get Rating) last announced its earnings results on Wednesday, November 30th. The textile maker reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.47. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.23 billion. PVH had a net margin of 5.05% and a return on equity of 12.49%. Research analysts predict that PVH Corp. will post 8.27 earnings per share for the current fiscal year.

PVH Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 29th. Investors of record on Wednesday, March 8th will be paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date is Tuesday, March 7th. PVH’s payout ratio is presently 2.38%.

Analysts Set New Price Targets

PVH has been the subject of several research analyst reports. Barclays upgraded shares of PVH from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $72.00 to $106.00 in a research report on Friday, January 20th. JPMorgan Chase & Co. lifted their target price on shares of PVH from $77.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, January 23rd. Telsey Advisory Group lifted their target price on shares of PVH from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, December 2nd. Cowen lifted their target price on shares of PVH from $58.00 to $75.00 in a report on Tuesday, December 6th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $51.00 target price on shares of PVH in a report on Friday, December 2nd. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $82.67.

Insider Buying and Selling

In other PVH news, EVP James Holmes sold 4,417 shares of the business’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $74.68, for a total transaction of $329,861.56. Following the sale, the executive vice president now directly owns 15,420 shares of the company’s stock, valued at approximately $1,151,565.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other PVH news, EVP Mark D. Fischer sold 1,732 shares of the business’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $81.00, for a total transaction of $140,292.00. Following the sale, the executive vice president now directly owns 32,468 shares of the company’s stock, valued at approximately $2,629,908. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James Holmes sold 4,417 shares of the company’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $74.68, for a total transaction of $329,861.56. Following the completion of the sale, the executive vice president now directly owns 15,420 shares in the company, valued at $1,151,565.60. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

About PVH

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PVH Corp. engages in the design and marketing of branded dress shirts, neckwear, sportswear, jeans wear, intimate apparel, swim products, handbags, footwear, and other related products. It operates through the following segments: Calvin Klein North America, Calvin Klein International, Tommy Hilfiger North America, Tommy Hilfiger International, Heritage Brands Wholesale, and Heritage Brands Retail.