PVH Corp. (PVH) is Continuing to Focus on its Core Brands

Longleaf Partners, managed by Southeastern Asset Management, released its “Partners Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here.  The Fund had a good year this time. The fund returned 7.99% in the fourth quarter, compared to S&P’s 11.69% return and Russell 1000 Value’s 9.50% return. The fund had 24.49% yearly returns compared to 26.29% and 11.46 % returns for the indexes. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Longleaf Partners Fund featured stocks such as 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 January 23, 2024, PVH Corp. (NYSE:PVH) stock closed at $119.14 per share. One-month return of PVH Corp. (NYSE:PVH) was -3.21%, and its shares gained 33.87% of their value over the last 52 weeks. PVH Corp. (NYSE:PVH) has a market capitalization of $7.105 billion.

Longleaf Partners Fund stated the following regarding PVH Corp. (NYSE:PVH) in its fourth quarter 2023 investor letter:

“PVH Corp. (NYSE:PVH) – Apparel company PVH, which owns brands Tommy Hilfiger and Calvin Klein, was the top performer in the fourth quarter and among the top contributors for the year. CEO Stefan Larsson, whom we previously partnered with at Ralph Lauren, has done a great job improving brand power while growing margins and FCF per share in a challenging environment. PVH reported a solid 3Q and is on track to buy back over 10% of shares this year. We expect more repurchases after the sale of its Warners, Olga and True and Co businesses in the period. This sale highlights the company’s continued focus on growing its core brands Calvin Klein and Tommy Hilfiger.”

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PVH Corp. (NYSE:PVH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held PVH Corp. (NYSE:PVH) at the end of third quarter which was 31 in the previous quarter.

We discussed PVH Corp. (NYSE:PVH) in another article and shared the list of best global luxury stocks to buy. 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.