Balyasny Asset Management L.P. Buys New Stake in PVH Corp. (NYSE:PVH)

Balyasny Asset Management L.P. purchased a new position in PVH Corp. (NYSE:PVH) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 504,713 shares of the textile maker’s stock, valued at approximately $53,373,000. Balyasny Asset Management L.P. owned approximately 0.91% of PVH as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PVH. Charles Schwab Investment Management Inc. lifted its position in shares of PVH by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 627,655 shares of the textile maker’s stock worth $66,375,000 after buying an additional 4,645 shares in the last quarter. Bank of New York Mellon Corp increased its stake in PVH by 22.9% in the 4th quarter. Bank of New York Mellon Corp now owns 774,010 shares of the textile maker’s stock worth $81,852,000 after acquiring an additional 144,260 shares during the last quarter. Clark Estates Inc. NY purchased a new stake in shares of PVH during the 4th quarter worth approximately $2,855,000. Citizens Financial Group Inc. RI bought a new position in shares of PVH during the 4th quarter valued at approximately $466,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of PVH by 179,164.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 760,080 shares of the textile maker’s stock valued at $79,705,000 after purchasing an additional 759,656 shares in the last quarter. Institutional investors own 97.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com lowered shares of PVH from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. UBS Group dropped their price target on PVH from $172.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. BMO Capital Markets decreased their price objective on PVH from $106.00 to $93.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 1st. Barclays dropped their target price on PVH from $103.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Finally, Citigroup restated a “neutral” rating and set a $68.00 price target (down previously from $83.00) on shares of PVH in a report on Monday, April 7th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.00.

PVH Price Performance

PVH opened at $71.60 on Tuesday. The business’s fifty day simple moving average is $68.83 and its 200-day simple moving average is $87.52. The company has a current ratio of 1.29, a quick ratio of 0.69 and a debt-to-equity ratio of 0.31. PVH Corp. has a 12-month low of $59.28 and a 12-month high of $124.68. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 5.83, a PEG ratio of 0.77 and a beta of 1.81.

PVH (NYSE:PVH) last announced its earnings results on Monday, March 31st. The textile maker reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.08. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.34 billion. PVH had a net margin of 8.13% and a return on equity of 13.66%. PVH’s revenue was down 4.8% compared to the same quarter last year. During the same period last year, the firm earned $3.72 earnings per share. On average, equities research analysts anticipate that PVH Corp. will post 11.67 earnings per share for the current fiscal year.

PVH Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend is Wednesday, June 4th. PVH’s dividend payout ratio is presently 1.42%.

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.