Formula Growth Ltd. Makes New Investment in PVH Corp. (NYSE:PVH)

Formula Growth Ltd. acquired a new stake in shares of PVH Corp. (NYSE:PVH) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,805 shares of the textile maker’s stock, valued at approximately $1,777,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PVH. MML Investors Services LLC raised its stake in PVH by 46.7% during the 3rd quarter. MML Investors Services LLC now owns 3,422 shares of the textile maker’s stock worth $345,000 after buying an additional 1,089 shares during the period. Barclays PLC raised its position in shares of PVH by 71.3% during the third quarter. Barclays PLC now owns 60,495 shares of the textile maker’s stock worth $6,097,000 after purchasing an additional 25,174 shares during the period. Franklin Resources Inc. raised its position in shares of PVH by 5.9% during the third quarter. Franklin Resources Inc. now owns 276,415 shares of the textile maker’s stock worth $26,942,000 after purchasing an additional 15,483 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of PVH by 82.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 253,666 shares of the textile maker’s stock worth $25,577,000 after purchasing an additional 114,430 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in PVH by 36.0% in the 4th quarter. GAMMA Investing LLC now owns 487 shares of the textile maker’s stock valued at $52,000 after purchasing an additional 129 shares during the period. Institutional investors own 97.25% of the company’s stock.

PVH Stock Up 1.6 %

PVH opened at $68.83 on Friday. The stock has a market cap of $3.62 billion, a PE ratio of 5.61, a P/E/G ratio of 0.77 and a beta of 1.89. The company has a quick ratio of 0.69, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. PVH Corp. has a 52 week low of $59.28 and a 52 week high of $124.68. The business’s fifty day simple moving average is $70.42 and its 200 day simple moving average is $89.66.

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

PVH Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.0375 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.15 annualized dividend and a yield of 0.22%. PVH’s payout ratio is currently 1.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PVH shares. The Goldman Sachs Group decreased their target price on shares of PVH from $128.00 to $109.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $90.00 target price on shares of PVH in a research report on Tuesday, April 1st. StockNews.com downgraded PVH from a “buy” rating to a “hold” rating in a research note on Friday. UBS Group cut their target price on shares of PVH from $172.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Finally, Evercore ISI reduced their price target on PVH from $139.00 to $105.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.40.

PVH 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.