PVH Corp. (PVH) Benefitted from Strong Fiscal Q3 Earnings

Investment management company First Pacific Advisors recently released its “FPA Queens Road Small Cap Value Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 13.09% compared to a 15.26% return for the Russell 2000 Value Index. The Fund returned 16.00% in 2023 vs. 14.65% for the index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

FPA Queens Road Small Cap Value Fund featured stocks like PVH Corp. (NYSE:PVH) in the fourth quarter 2023 investor letter. Headquartered in New York, New York, PVH Corp. (NYSE:PVH) is an apparel company. On February 29, 2024, PVH Corp. (NYSE:PVH) stock closed at $136.67 per share. One-month return of PVH Corp. (NYSE:PVH) was 12.60%, and its shares gained 64.21% of their value over the last 52 weeks. PVH Corp. (NYSE:PVH) has a market capitalization of $8.151 billion.

FPA Queens Road Small Cap Value Fund stated the following regarding PVH Corp. (NYSE:PVH) in its fourth quarter 2023 investor letter:

“PVH Corp. (NYSE:PVH) is an apparel company that owns the Tommy Hilfiger and Calvin Klein brands globally. Most of PVH’s earnings come from Europe, where the Tommy and Calvin brands are considered “almost luxury” and PVH has recorded high single digit organic growth with demonstrated pricing power. CEO Stefan Larsson has done an excellent job revitalizing the company and improving margins in PVH’s moribund US operations. A number of apparel stocks did well in Q4 and PVH benefitted from very strong fiscal Q3 earnings (reported Nov. 29, 2023) and increased share repurchases.”

A customer trying on a sports jacket in-store, showcasing the company’s sportswear range.

PVH Corp. (NYSE:PVH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, PVH Corp. (NYSE:PVH) was held by 35 hedge fund portfolios, up from 29 in the previous quarter, according to our database.

We discussed PVH Corp. (NYSE:PVH) in another article and shared Sound Shore Management’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.