Wedge Capital Management L L P NC Purchases Shares of 375,949 PVH Corp. (NYSE:PVH)

Wedge Capital Management L L P NC purchased a new stake in PVH Corp. (NYSE:PVH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 375,949 shares of the textile maker’s stock, valued at approximately $45,911,000. Wedge Capital Management L L P NC owned 0.63% of PVH at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PVH. FMR LLC grew its position in PVH by 15.9% in 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 during the last quarter. Invesco Ltd. boosted its stake in PVH by 51.6% in the 3rd quarter. Invesco Ltd. now owns 422,584 shares of the textile maker’s stock worth $32,332,000 after purchasing an additional 143,832 shares during the period. Fort Washington Investment Advisors Inc. OH acquired a new position in PVH in the 4th quarter worth approximately $13,569,000. Mackenzie Financial Corp boosted its stake in PVH by 223.0% in the 4th quarter. Mackenzie Financial Corp now owns 102,929 shares of the textile maker’s stock worth $12,570,000 after purchasing an additional 71,060 shares during the period. Finally, UBS Group AG boosted its stake in PVH by 72.7% in the 3rd quarter. UBS Group AG now owns 133,499 shares of the textile maker’s stock worth $10,214,000 after purchasing an additional 56,193 shares during the period. Institutional investors and hedge funds own 97.25% of the company’s stock.

Insiders Place Their Bets

In other PVH news, EVP James Holmes sold 3,000 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $108.39, for a total transaction of $325,170.00. Following the completion of 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 0.78% of the company’s stock.

PVH Trading Up 2.6 %

Shares of PVH traded up $2.79 on Monday, reaching $109.57. 1,150,797 shares of the company’s stock were exchanged, compared to its average volume of 983,004. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $6.32 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 1.02 and a beta of 2.20. The business has a 50 day moving average price of $126.78 and a two-hundred day moving average price of $109.82. PVH Corp. has a 12 month low of $69.27 and a 12 month high of $141.15.

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

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

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 dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Tuesday, March 5th. PVH’s dividend payout ratio (DPR) is presently 1.38%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PVH. Bank of America decreased their price objective on shares of PVH from $156.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. TD Cowen lifted their target price on shares of PVH from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Telsey Advisory Group cut their price target on shares of PVH from $155.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday, April 2nd. UBS Group raised their price target on shares of PVH from $158.00 to $159.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Morgan Stanley cut their price target on shares of PVH from $134.00 to $110.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.40.

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.