5 Best Global Luxury Stocks to Buy

In this article, we will take a look at the 5 best global luxury stocks to buy now. If you want to read our discussion on the luxury goods industry, go to the 11 Best Global Luxury Stocks to Buy.

5. PVH Corp. (NYSE:PVH)

Number of Hedge Fund Holders: 31

Dollar Value of Hedge Fund Holdings: $1,441,627,300

PVH Corp. (NYSE:PVH), previously known as the Phillips-Van Heusen Corporation, is a New York-based apparel company that owns luxury brands like Calvin Klein and Tommy Hilfiger. In an update issued to investors on June 1, Dana Telsey at Telsey Advisory Group reiterated a target price of $102 along with an Outperform rating on PVH Corp. (NYSE:PVH) stock.

Pzena Investment Management was the leading hedge fund investor in PVH Corp. (NYSE:PVH) during Q2 2023, with a stake of over $591.7 million.

Longleaf Partners shared its stance on PVH Corp. (NYSE:PVH) in its Q1 2023 investor letter. Here’s what the firm said:

“PVH Corp. (NYSE:PVH) – Apparel company PVH, which owns brands Tommy Hilfiger and Calvin Klein, was another strong performer in the quarter. PVH was a new purchase in 2022 when it was thrown out with industry weakness driven by inferior companies, and this was exacerbated when the company was kicked out of the S&P 500. CEO Stefan Larsson, whom we previously got to know at Ralph Lauren, is doing a great job streamlining the company and growing margins and FCF per share. Tommy Hilfiger and Calvin Klein are strong global brands, though they are not earning what they should in the US. The stock has significant additional upside from the current single-digit multiple of FCF power for a company that is relatively resistant to fashion trend risk with a management team that we believe will continue to deliver on operating margin growth from here.”