PNC Financial Services Group Inc. Has $685,000 Position in PVH Corp. (NYSE:PVH)

Posted by on Jun 2nd, 2023

PNC Financial Services Group Inc. lowered its holdings in shares of PVH Corp. (NYSE:PVH – Get Rating) by 14.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,704 shares of the textile maker’s stock after selling 1,582 shares during the quarter. PNC Financial Services Group Inc.’s holdings in PVH were worth $685,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Belpointe Asset Management LLC bought a new position in shares of PVH during the fourth quarter worth about $25,000. Janiczek Wealth Management LLC grew its holdings in shares of PVH by 218.6% during the fourth quarter. Janiczek Wealth Management LLC now owns 325 shares of the textile maker’s stock worth $27,000 after buying an additional 223 shares in the last quarter. Westpac Banking Corp bought a new position in shares of PVH during the third quarter worth about $39,000. Covestor Ltd grew its holdings in shares of PVH by 69.3% during the first quarter. Covestor Ltd now owns 596 shares of the textile maker’s stock worth $46,000 after buying an additional 244 shares in the last quarter. Finally, Mach 1 Financial Group LLC bought a new position in shares of PVH during the third quarter worth about $57,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PVH shares. Guggenheim increased their price objective on PVH from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 30th. The Goldman Sachs Group raised their price target on PVH from $67.00 to $74.00 in a research note on Monday, March 20th. Telsey Advisory Group raised their price target on PVH from $90.00 to $102.00 and gave the company an “outperform” rating in a research note on Wednesday, March 29th. TheStreet upgraded PVH from a “c” rating to a “b-” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their price target on PVH from $85.00 to $110.00 in a research note on Wednesday, February 15th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, PVH currently has an average rating of “Hold” and an average target price of $90.72.

PVH Stock Performance

NYSE:PVH opened at $77.82 on Friday. The stock has a market cap of $4.89 billion, a P/E ratio of 26.29, a PEG ratio of 0.53 and a beta of 2.11. The stock has a 50 day simple moving average of $84.95 and a 200 day simple moving average of $79.28. The company has a current ratio of 1.29, a quick ratio of 0.64 and a debt-to-equity ratio of 0.43. PVH Corp. has a 1-year low of $43.49 and a 1-year high of $94.51.

PVH (NYSE:PVH – Get Rating) last released its quarterly earnings results on Thursday, June 1st. The textile maker reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.21. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. PVH had a return on equity of 11.90% and a net margin of 2.24%. During the same period last year, the firm posted $1.94 EPS. Research analysts anticipate that PVH Corp. will post 10.03 earnings per share for the current year.

PVH Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 7th will be issued a $0.0375 dividend. The ex-dividend date of this dividend is Tuesday, June 6th. This represents a $0.15 annualized dividend and a yield of 0.19%. PVH’s dividend payout ratio is presently 5.07%.

PVH Company Profile

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

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Institutional Ownership by Quarter for PVH (NYSE:PVH)

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