Principal Financial Group Inc. Grows Holdings in PVH Corp. $PVH

Principal Financial Group Inc. increased its position in PVH Corp. (NYSE:PVH) by 2.2% in the 4th quarter, HoldingsChannel reports. The fund owned 563,629 shares of the textile maker’s stock after buying an additional 12,279 shares during the quarter. Principal Financial Group Inc.’s holdings in PVH were worth $37,774,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lingohr Asset Management GmbH purchased a new stake in PVH in the 3rd quarter worth approximately $4,311,000. Strengthening Families & Communities LLC bought a new position in PVH in the 3rd quarter worth approximately $2,620,000. Allianz Asset Management GmbH boosted its stake 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 during the period. Federated Hermes Inc. boosted its stake in PVH by 4.8% in 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. Finally, LSV Asset Management boosted its stake in PVH by 47.8% in the 3rd quarter. LSV Asset Management now owns 1,963,303 shares of the textile maker’s stock worth $164,466,000 after purchasing an additional 634,887 shares during the period. 97.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on PVH shares. Weiss Ratings upgraded PVH from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. The Goldman Sachs Group upped their price target on PVH from $83.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Wall Street Zen upgraded PVH from a “hold” rating to a “buy” rating in a research note on Sunday. UBS Group dropped their price target on PVH from $148.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Finally, Jefferies Financial Group dropped their price target on PVH from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PVH currently has an average rating of “Hold” and an average target price of $88.93.

PVH Stock Up 1.0%

Shares of PVH opened at $89.48 on Friday. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 235.49, a price-to-earnings-growth ratio of 0.98 and a beta of 1.73. PVH Corp. has a 1 year low of $59.60 and a 1 year high of $100.15. The business’s 50 day simple moving average is $77.17 and its 200-day simple moving average is $74.06. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 0.85.

PVH (NYSE:PVH) last issued its quarterly earnings data on Tuesday, March 31st. The textile maker reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.52. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.43 billion. PVH had a return on equity of 11.55% and a net margin of 0.28%.The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.27 EPS. As a group, equities analysts expect that PVH Corp. will post 12.01 earnings per share for the current fiscal year.

PVH Dividend Announcement

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

PVH Company Profile

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.