Mackenzie Financial Corp Grows Stock Position in PVH Corp. (NYSE:PVH)

Mackenzie Financial Corp boosted its stake in shares of PVH Corp. (NYSE:PVH) by 223.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,929 shares of the textile maker’s stock after acquiring an additional 71,060 shares during the quarter. Mackenzie Financial Corp owned 0.17% of PVH worth $12,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Lecap Asset Management Ltd. purchased a new stake in shares of PVH during the fourth quarter valued at approximately $1,895,000. Louisiana State Employees Retirement System bought a new stake in PVH in the 4th quarter worth $2,076,000. Allspring Global Investments Holdings LLC increased its position in shares of PVH by 2,600.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 270 shares of the textile maker’s stock valued at $33,000 after acquiring an additional 260 shares during the period. International Assets Investment Management LLC raised its stake in shares of PVH by 10,839.9% during the fourth quarter. International Assets Investment Management LLC now owns 36,758 shares of the textile maker’s stock valued at $4,489,000 after acquiring an additional 36,422 shares during the last quarter. Finally, OPTIMAS CAPITAL Ltd purchased a new stake in shares of PVH during the fourth quarter worth about $2,821,000. 97.25% of the stock is currently owned by institutional investors.

PVH Stock Performance

Shares of PVH opened at $106.78 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.31. The stock has a market cap of $6.16 billion, a P/E ratio of 9.84, a P/E/G ratio of 1.01 and a beta of 2.20. The business’s 50 day moving average price is $126.78 and its 200-day moving average price is $109.30. PVH Corp. has a 52 week low of $69.27 and a 52 week high of $141.15.

PVH (NYSE:PVH) last released its earnings results on Tuesday, April 2nd. The textile maker reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.21. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.42 billion. PVH had a return on equity of 12.96% and a net margin of 7.20%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.38 earnings per share. Equities research analysts anticipate that PVH Corp. will post 10.93 earnings per share for the current fiscal year.

PVH Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were issued a $0.0375 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.15 annualized dividend and a yield of 0.14%. PVH’s dividend payout ratio (DPR) is presently 1.38%.

PVH declared that its board has initiated a stock buyback plan on Monday, April 1st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the textile maker to reacquire up to 24% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PVH shares. Barclays reduced their price target on PVH from $157.00 to $149.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Wells Fargo & Company reduced their target price on PVH from $150.00 to $138.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. Morgan Stanley dropped their price target on PVH from $134.00 to $110.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 3rd. Wedbush raised shares of PVH from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $113.00 to $128.00 in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of PVH from $146.00 to $157.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PVH presently has an average rating of “Moderate Buy” and a consensus price target of $129.40.

Insider Transactions at PVH

In related news, EVP James Holmes sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $108.39, for a total value of $325,170.00. Following the completion of the transaction, the executive vice president now directly owns 13,904 shares in the company, valued at approximately $1,507,054.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.78% of the company’s stock.

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.