Is PVH Corp. (NYSE: PVH) Back In The Buying Zone?


Fidelity Management & Research Co. recently announced the acquisition of new stake in PVH Corp. (NYSE:PVH). The institutional investor has increased its shareholding in the Consumer Cyclical company by 14.74% to 8.81 million shares with purchase of 1.13 million shares. This fresh investment now brings its stake to 12.42% valued currently at $423.43 million. In addition, Pzena Investment Management LLC raised its holdings by 1.39 million to 6.37 million shares. And Wellington Management Co. LLP has lifted its position by 0.99% or 37480.0 shares – to 3.84 million shares.

With over 0.79 million PVH Corp. (PVH) shares trading Wednesday and a closing price of $52.02 on the day, the dollar volume was approximately $40.9 million. The shares have shown a positive weekly performance of 3.45% and its price on 07/28/20 gained nearly 2.58%. Currently, there are 71.40M common shares owned by the public and among those 70.36M shares have been available to trade.

Incidentally, analysts’ outlook for the PVH Corp. stock is 2.30 for the next 12 months.

Insiders at the company have transacted a total of 65 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 233,036 shares. Insider sales of the common stock occurred on 39 occasions, with total insider shares sold totaling 31,646 shares.

The top 3 mutual fund holders in PVH Corp. are Hartford Mid Cap Fund, Vanguard Total Stock Market Index, and Vanguard Windsor Funds – Vanguard. Hartford Mid Cap Fund owns 2.84 million shares of the company’s stock, all valued at over $136.42 million. The company bought an additional 0.46 million shares recently to bring their total holdings to about 4.00% of the shares outstanding. Vanguard Total Stock Market Index sold -0.11 million shares to see its total holdings shrink to 2.03 million shares valued at over $97.62 million and representing 2.86% of the shares outstanding. Vanguard Windsor Funds – Vanguard bought 0.2 million shares to bring its total holdings to over 1.65 million shares at a value of $79.51 million. Vanguard Windsor Funds – Vanguard now owns shares totaling to 2.33% of the shares outstanding.

Shares of PVH Corp. (NYSE: PVH) opened at $49.84, down -$0.87 from a prior closing price of $50.71. However, the script later closed the day at $52.02, up 2.58%. The company’s stock has a 5-day price change of 3.45% and 0.18% over the past three months. PVH shares are trading -51.77% year to date (YTD), with the 12-month market performance down to -43.07% lower. It has a 12-month low price of $28.40 and touched a high of $108.06 over the same period. Currently, 0.79 million shares have been traded, compared to an average intraday trading volume of 1.91 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.82%, 5.22%, and -25.81% respectively.

Institutional ownership of PVH Corp. (NYSE: PVH) 71.40M shares outstanding. Mutual fund holders own 37.02%, while other institutional holders and individual stakeholders account for 65.06% and 1.19% respectively.

It has a market capitalization of $3.66B and a beta (3y monthly) value of 2.06. The earnings-per-share (ttm) stands at -$10.89. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.23% over the week and 5.50% over the month.

Analysts forecast that PVH Corp. (PVH) will achieve an EPS of -$2.51 for the current quarter, $1.55 for the next quarter and $5.86 for 2022. The lowest estimate earnings-per-share for the quarter is -$5.25 while analysts give the company a high EPS estimate of -$1.65. Comparatively, EPS for the current quarter was $2.1 a year ago. Earnings per share for the fiscal year are expected to decrease by -40.10%, and 301.70% over the next financial year. EPS should shrink at an annualized rate of -4.73% over the next five years, compared to 1.20% over the past 5-year period.

Looking at the support for the PVH, a number of firms have released research notes about the stock. Wells Fargo stated their Equal Weight rating for the stock in a research note on June 08, 2020, with the firm’s price target at $64. RBC Capital Mkts coverage for the PVH Corp. (PVH) stock in a research note released on April 03, 2020 offered a Sector Perform rating with a price target of $30. Telsey Advisory Group was of a view on April 02, 2020 that the stock is Outperform, while Deutsche Bank gave the stock Hold rating on March 13, 2020, issuing a price target of $59. BMO Capital Markets on their part issued Market Perform rating on February 04, 2020.


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