Wedge Capital Management L L P NC Acquires Shares of 25,549 PVH Corp. (NYSE:PVH)

Wedge Capital Management L L P NC acquired a new position in PVH Corp. (NYSE:PVH - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,549 shares of the textile maker's stock, valued at approximately $2,576,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PVH. Pzena Investment Management LLC grew its stake in PVH by 5.3% in the second quarter. Pzena Investment Management LLC now owns 5,623,706 shares of the textile maker's stock worth $595,382,000 after purchasing an additional 284,269 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of PVH by 1.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,148,855 shares of the textile maker's stock worth $333,375,000 after purchasing an additional 55,293 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of PVH by 14.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,320,471 shares of the textile maker's stock worth $245,668,000 after purchasing an additional 296,040 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of PVH by 13,275.0% during the second quarter. Pacer Advisors Inc. now owns 1,222,207 shares of the textile maker's stock valued at $129,395,000 after purchasing an additional 1,213,069 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of PVH by 15.7% during the second quarter. LSV Asset Management now owns 916,002 shares of the textile maker's stock valued at $96,977,000 after buying an additional 124,309 shares during the last quarter. 97.25% of the stock is owned by hedge funds and other institutional investors.

PVH Price Performance

Shares of PVH traded up $1.28 during mid-day trading on Wednesday, reaching $98.72. The stock had a trading volume of 615,349 shares, compared to its average volume of 860,060. The business has a fifty day moving average of $97.59 and a 200 day moving average of $105.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 1.24. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 0.88 and a beta of 2.11. PVH Corp. has a 12 month low of $71.32 and a 12 month high of $141.15.

PVH (NYSE:PVH - Get Free Report) last issued its quarterly earnings results on Tuesday, August 27th. The textile maker reported $3.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.29 by $0.72. PVH had a return on equity of 13.94% and a net margin of 8.37%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the business posted $1.98 EPS. PVH's revenue for the quarter was down 6.0% compared to the same quarter last year. Equities analysts predict that PVH Corp. will post 11.66 EPS for the current year.

PVH Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Wednesday, September 4th. PVH's dividend payout ratio (DPR) is currently 1.33%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PVH. StockNews.com lowered PVH from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 16th. BMO Capital Markets cut their target price on shares of PVH from $119.00 to $106.00 and set a "market perform" rating for the company in a research report on Wednesday, August 28th. Wells Fargo & Company lowered their price target on PVH from $145.00 to $130.00 and set an "overweight" rating on the stock in a report on Wednesday, August 28th. TD Cowen cut their price objective on PVH from $149.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, August 29th. Finally, Barclays reduced their price objective on PVH from $154.00 to $142.00 and set an "overweight" rating for the company in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $128.87.

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.