AlphaCore Capital LLC Invests $584,000 in PVH Corp. $PVH

AlphaCore Capital LLC purchased a new position in shares of PVH Corp. (NYSE:PVH) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 8,708 shares of the textile maker’s stock, valued at approximately $584,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Denali Advisors LLC bought a new position in shares of PVH during the fourth quarter valued at approximately $261,000. Principal Financial Group Inc. boosted its stake in PVH by 2.2% in the fourth quarter. Principal Financial Group Inc. now owns 563,629 shares of the textile maker’s stock valued at $37,774,000 after acquiring an additional 12,279 shares in the last quarter. Truist Financial Corp boosted its stake in PVH by 17.1% in the fourth quarter. Truist Financial Corp now owns 10,157 shares of the textile maker’s stock valued at $681,000 after acquiring an additional 1,484 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in PVH in the fourth quarter valued at approximately $704,000. Finally, State of New Jersey Common Pension Fund D boosted its holdings in PVH by 5.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 29,277 shares of the textile maker’s stock worth $1,962,000 after acquiring an additional 1,425 shares in the last quarter. 97.25% of the stock is currently owned by institutional investors.

PVH Trading Down 1.1%

Shares of PVH stock opened at $79.48 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.52 and a quick ratio of 0.85. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 209.16, a PEG ratio of 0.89 and a beta of 1.73. The stock has a 50 day simple moving average of $79.55 and a 200-day simple moving average of $73.93. PVH Corp. has a 1-year low of $59.60 and a 1-year high of $100.15.

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

PVH Announces Dividend

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

Wall Street Analyst Weigh In

PVH has been the subject of several research reports. Needham & Company LLC lifted their price objective on shares of PVH from $100.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. The Goldman Sachs Group lifted their price objective on shares of PVH from $83.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Jefferies Financial Group lowered their price objective on shares of PVH from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, January 27th. Weiss Ratings raised PVH from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Finally, UBS Group decreased their target price on PVH from $148.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 6th. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $88.93.

PVH 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.