Principal Financial Group Inc. Trims Stake in PVH Corp. (NYSE:PVH)

Principal Financial Group Inc. decreased its stake in shares of PVH Corp. (NYSE:PVH) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 720,838 shares of the textile maker’s stock after selling 24,102 shares during the quarter. Principal Financial Group Inc.’s holdings in PVH were worth $76,227,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC increased its position in PVH by 63.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 272 shares of the textile maker’s stock worth $27,000 after purchasing an additional 106 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of PVH by 78.5% during the fourth quarter. UMB Bank n.a. now owns 282 shares of the textile maker’s stock worth $30,000 after buying an additional 124 shares in the last quarter. Covestor Ltd raised its position in shares of PVH by 270.6% in the third quarter. Covestor Ltd now owns 404 shares of the textile maker’s stock valued at $41,000 after buying an additional 295 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of PVH by 116.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 424 shares of the textile maker’s stock valued at $43,000 after buying an additional 228 shares during the period. Finally, Allworth Financial LP acquired a new stake in PVH during the fourth quarter worth approximately $50,000. 97.25% of the stock is owned by institutional investors and hedge funds.

PVH Stock Down 0.7 %

Shares of NYSE PVH opened at $79.21 on Thursday. The stock has a fifty day moving average price of $95.57 and a 200 day moving average price of $98.21. The company has a market cap of $4.41 billion, a P/E ratio of 6.45, a P/E/G ratio of 0.76 and a beta of 2.06. PVH Corp. has a 12-month low of $76.34 and a 12-month high of $141.15. 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 (NYSE:PVH) last announced its earnings results on Wednesday, December 4th. The textile maker reported $3.03 EPS for the quarter, beating the consensus estimate of $2.59 by $0.44. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.22 billion. PVH had a return on equity of 13.66% and a net margin of 8.13%. The company’s revenue was down 4.6% on a year-over-year basis. During the same period last year, the business posted $2.90 EPS. Research analysts anticipate that PVH Corp. will post 11.67 EPS for the current fiscal year.

PVH Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be paid a $0.0375 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.15 annualized dividend and a dividend yield of 0.19%. PVH’s dividend payout ratio (DPR) is presently 1.22%.

Insider Activity at PVH

In other PVH news, EVP Mark D. Fischer sold 3,186 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $105.50, for a total value of $336,123.00. Following the completion of the transaction, the executive vice president now directly owns 23,103 shares of the company’s stock, valued at $2,437,366.50. This represents a 12.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PVH shares. JPMorgan Chase & Co. downgraded PVH from an “overweight” rating to a “neutral” rating and cut their price target for the company from $149.00 to $113.00 in a report on Friday, January 24th. Wells Fargo & Company downgraded PVH from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $130.00 to $105.00 in a research report on Monday, February 3rd. Telsey Advisory Group restated an “outperform” rating and issued a $130.00 price target on shares of PVH in a report on Wednesday, December 4th. Morgan Stanley cut their price objective on shares of PVH from $103.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Finally, Barclays lowered their target price on shares of PVH from $144.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.07.

PVH Company Profile

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.