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Rhumbline Advisers Lowers Stake in PVH Corp. (NYSE:PVH)

Jun 04, 2023

Rhumbline Advisers lowered its stake in shares of PVH Corp. (NYSE:PVH - Free Report) by 2.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 202,709 shares of the textile maker's stock after selling 5,633 shares during the period. Rhumbline Advisers owned approximately 0.32% of PVH worth $18,074,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PVH. Belpointe Asset Management LLC purchased a new position in shares of PVH during the 4th quarter worth approximately $25,000. Heritage Wealth Management LLC lifted its holdings in PVH by 100.0% during the 4th quarter. Heritage Wealth Management LLC now owns 400 shares of the textile maker's stock worth $28,000 after buying an additional 200 shares in the last quarter. WealthPLAN Partners LLC acquired a new stake in PVH during the 1st quarter worth approximately $40,000. Covestor Ltd lifted its holdings in PVH by 69.3% during the 1st quarter. Covestor Ltd now owns 596 shares of the textile maker's stock worth $46,000 after buying an additional 244 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in PVH by 119.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,080 shares of the textile maker's stock worth $76,000 after buying an additional 588 shares in the last quarter. Hedge funds and other institutional investors own 97.25% of the company's stock.

Shares of PVH stock opened at $82.37 on Thursday. PVH Corp. has a 1 year low of $43.49 and a 1 year high of $94.51. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.68 and a current ratio of 1.40. The company has a market capitalization of $5.17 billion, a P/E ratio of 26.07, a PEG ratio of 0.58 and a beta of 2.07. The company's fifty day moving average is $84.73 and its two-hundred day moving average is $83.27.

PVH (NYSE:PVH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 30th. The textile maker reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.22. PVH had a net margin of 2.24% and a return on equity of 11.83%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the firm posted $2.08 EPS. PVH's revenue for the quarter was up 3.5% on a year-over-year basis. Analysts forecast that PVH Corp. will post 10.01 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 6th will be given a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.18%. The ex-dividend date is Tuesday, September 5th. PVH's payout ratio is currently 4.75%.

PVH has been the topic of a number of research reports. TheStreet lowered shares of PVH from a "b-" rating to a "c+" rating in a report on Thursday, July 27th. Telsey Advisory Group reiterated an "outperform" rating and set a $102.00 target price on shares of PVH in a report on Tuesday, August 22nd. lowered shares of PVH from a "buy" rating to a "hold" rating in a report on Thursday, August 24th. Finally, BMO Capital Markets raised their price objective on shares of PVH from $81.00 to $90.00 in a report on Thursday, June 1st. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to, the stock presently has an average rating of "Hold" and a consensus price target of $92.06.

Get Our Latest Research Report on PVH

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's, women's, and children's apparel and accessories, include branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, swimwear, swim-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage products, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, home bed and bath furnishings, small leather goods, and other products.

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