Channing Capital Management LLC Boosts Stake in PVH Corp. (NYSE:PVH)

Channing Capital Management LLC raised its holdings in shares of PVH Corp. (NYSE:PVH) by 648.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 581,289 shares of the textile maker’s stock after acquiring an additional 503,586 shares during the period. PVH makes up about 2.1% of Channing Capital Management LLC’s investment portfolio, making the stock its 18th largest position. Channing Capital Management LLC’s holdings in PVH were worth $70,987,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. FMR LLC grew its position in PVH by 15.9% during the third quarter. FMR LLC now owns 7,198,557 shares of the textile maker’s stock worth $550,762,000 after buying an additional 987,957 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in PVH by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,080,588 shares of the textile maker’s stock worth $159,186,000 after buying an additional 10,164 shares in the last quarter. LSV Asset Management lifted its stake in PVH by 1.3% during the fourth quarter. LSV Asset Management now owns 809,930 shares of the textile maker’s stock worth $98,909,000 after purchasing an additional 10,194 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in PVH by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 658,620 shares of the textile maker’s stock worth $50,391,000 after purchasing an additional 37,300 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in PVH by 28.6% during the fourth quarter. Victory Capital Management Inc. now owns 624,132 shares of the textile maker’s stock worth $76,219,000 after purchasing an additional 138,952 shares during the last quarter. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PVH

In other PVH news, EVP James Holmes sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $108.39, for a total transaction of $325,170.00. Following the transaction, the executive vice president now owns 13,904 shares in the company, valued at approximately $1,507,054.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.78% of the stock is currently owned by corporate insiders.

PVH Trading Up 2.4 %

PVH traded up $2.66 during midday trading on Friday, reaching $113.22. 531,348 shares of the company’s stock traded hands, compared to its average volume of 1,027,934. The firm has a fifty day moving average of $122.87 and a two-hundred day moving average of $112.22. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 10.44, a P/E/G ratio of 1.08 and a beta of 2.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.18 and a quick ratio of 0.66. PVH Corp. has a 52 week low of $69.27 and a 52 week high of $141.15.

PVH (NYSE:PVH) last released its quarterly earnings results on Tuesday, April 2nd. The textile maker reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.21. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.42 billion. PVH had a return on equity of 12.96% and a net margin of 7.20%. PVH’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.38 EPS. On average, equities analysts anticipate that PVH Corp. will post 10.92 earnings per share for the current fiscal year.

PVH declared that its board has authorized a share repurchase program on Monday, April 1st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the textile maker to buy up to 24% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

PVH Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Wednesday, June 5th. PVH’s payout ratio is 1.38%.

Analyst Ratings Changes

Several brokerages have issued reports on PVH. Barclays dropped their price target on PVH from $157.00 to $149.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Bank of America dropped their price target on PVH from $156.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Wedbush raised PVH from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $113.00 to $128.00 in a research note on Monday, April 15th. Citigroup dropped their price target on PVH from $139.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, April 3rd. Finally, Wells Fargo & Company lowered their target price on PVH from $150.00 to $138.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.50.

About PVH

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.