Mitsubishi UFJ Trust & Banking Corp Increases Stake in PVH Corp. $PVH

Mitsubishi UFJ Trust & Banking Corp grew its position in PVH Corp. (NYSE:PVH) by 5.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 124,440 shares of the textile maker’s stock after purchasing an additional 6,941 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in PVH were worth $8,340,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lingohr Asset Management GmbH acquired a new stake in PVH during the third quarter worth about $4,311,000. Vaughan Nelson Investment Management L.P. acquired a new position in PVH in the third quarter valued at approximately $74,338,000. Strengthening Families & Communities LLC acquired a new position in PVH in the third quarter valued at approximately $2,620,000. Allianz Asset Management GmbH boosted its position in PVH by 51.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 311,555 shares of the textile maker’s stock worth $26,099,000 after purchasing an additional 106,262 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of PVH by 4.8% during the 3rd quarter. Federated Hermes Inc. now owns 294,604 shares of the textile maker’s stock worth $24,679,000 after purchasing an additional 13,455 shares during the period. Institutional investors own 97.25% of the company’s stock.

PVH Stock Performance

NYSE:PVH opened at $91.68 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.52. The stock has a market capitalization of $4.20 billion, a PE ratio of 241.28, a P/E/G ratio of 1.01 and a beta of 1.73. PVH Corp. has a fifty-two week low of $59.60 and a fifty-two week high of $100.15. The company has a fifty day moving average of $76.01 and a two-hundred day moving average of $73.97.

PVH (NYSE:PVH) last released its earnings results on Tuesday, March 31st. The textile maker reported $3.82 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.52. PVH had a net margin of 0.28% and a return on equity of 11.55%. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the company earned $3.27 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, research analysts forecast that PVH Corp. will post 12.06 earnings per share for the current fiscal year.

PVH Announces Dividend

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

Analyst Ratings Changes

PVH has been the subject of several analyst reports. UBS Group decreased their target price on shares of PVH from $148.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Telsey Advisory Group reiterated a “market perform” rating and issued a $74.00 price objective on shares of PVH in a research report on Wednesday, April 1st. Jefferies Financial Group dropped their target price on PVH from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. The Goldman Sachs Group lifted their price target on PVH from $83.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $100.00 price target on shares of PVH in a report on Wednesday, April 1st. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $88.93.

About PVH

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.