Easterly Investment Partners LLC Grows Holdings in PVH Corp. $PVH

Easterly Investment Partners LLC increased its position in shares of PVH Corp. (NYSE:PVH) by 79.0% during the 4th quarter, Holdings Channel reports. The firm owned 66,843 shares of the textile maker’s stock after purchasing an additional 29,510 shares during the quarter. Easterly Investment Partners LLC’s holdings in PVH were worth $4,480,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in PVH by 7.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,218,143 shares of the textile maker’s stock worth $150,434,000 after purchasing an additional 145,430 shares during the last quarter. LSV Asset Management lifted its holdings in PVH by 8.4% during the fourth quarter. LSV Asset Management now owns 2,127,646 shares of the textile maker’s stock worth $142,595,000 after acquiring an additional 164,343 shares during the period. American Century Companies Inc. lifted its holdings in PVH by 19.9% during the third quarter. American Century Companies Inc. now owns 1,270,040 shares of the textile maker’s stock worth $106,391,000 after acquiring an additional 210,885 shares during the period. Barclays PLC lifted its holdings in PVH by 68.4% during the third quarter. Barclays PLC now owns 1,197,009 shares of the textile maker’s stock worth $100,273,000 after acquiring an additional 486,210 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in PVH by 9.7% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 973,895 shares of the textile maker’s stock worth $65,270,000 after acquiring an additional 86,490 shares during the period. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PVH shares. UBS Group lifted their price target on PVH from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday. Wall Street Zen upgraded PVH from a “hold” rating to a “buy” rating in a report on Sunday, May 10th. Telsey Advisory Group reiterated a “market perform” rating and set a $74.00 price target on shares of PVH in a report on Wednesday, April 1st. Weiss Ratings upgraded shares of PVH from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group boosted their target price on shares of PVH from $83.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, PVH has an average rating of “Hold” and a consensus target price of $89.60.

PVH Stock Performance

Shares of PVH stock opened at $93.40 on Monday. The stock has a market capitalization of $4.28 billion, a P/E ratio of 245.79, a PEG ratio of 1.03 and a beta of 1.72. The company has a current ratio of 1.52, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $84.18 and its 200 day moving average is $74.74. PVH Corp. has a 12 month low of $59.60 and a 12 month high of $100.15.

PVH (NYSE:PVH) last announced its quarterly earnings results on Tuesday, March 31st. The textile maker reported $3.82 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.52. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.43 billion. PVH had a net margin of 0.28% and a return on equity of 11.55%. PVH’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.27 EPS. On average, sell-side analysts anticipate that PVH Corp. will post 12.01 earnings per share for the current year.

PVH Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, June 3rd. PVH’s dividend payout ratio is presently 39.47%.

PVH Company Profile

PVH Corp is a leading global apparel company known for its portfolio of iconic brands in the dress shirt, sportswear and lifestyle categories. The company designs, markets and distributes clothing, accessories and fragrances under both owned and licensed brands. PVH’s core brand holdings include Calvin Klein and Tommy Hilfiger, complemented by a range of heritage labels such as Van Heusen, IZOD, ARROW, Warner’s and Olga.

PVH’s operations span the entire value chain from product design and development to manufacturing, marketing and distribution.