Exploring PVH Corp. (PVH) Investor Profile: Who’s Buying and Why?

You're looking at PVH Corp. and wondering why the stock is moving, especially when institutional ownership is so dominant-a staggering 97.25% of shares are held by major firms, which tells you this is a battleground for serious money. We just saw a significant Q2 2025 earnings beat, with revenue hitting $2.17 billion and non-GAAP earnings per share (EPS) at $2.52, well above consensus, so the underlying business is executing on its PVH+ Plan. But here's the quick math: while the company reaffirmed its full-year 2025 non-GAAP EPS guidance of $10.75 to $11.00, the latest 13F filings show a clear institutional split, with 161 funds adding shares-like VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. adding 887,405 shares in Q3 2025-and 263 others decreasing their positions. Are the buyers betting on a global Calvin Klein and Tommy Hilfiger rebound, or are the sellers worried about the macro headwinds in Europe and Asia? Let's dig into the specific institutional movements to see who is defintely winning this tug-of-war and what their investment theses imply for the stock's near-term trajectory.

Who Invests in PVH Corp. (PVH) and Why?

If you're looking at PVH Corp. (PVH), the parent company of Calvin Klein and Tommy Hilfiger, you're looking at a stock overwhelmingly owned by professional money managers. The direct takeaway is that PVH is a classic institutional play, largely viewed through a value lens as it executes its turnaround strategy, the PVH+ Plan.

The Dominant Players: Institutional and Retail Breakdown

The investor base for PVH Corp. is highly concentrated among institutional investors-the mutual funds, pension funds, and asset managers like BlackRock, Inc. and Vanguard Group Inc. These entities collectively own a massive portion of the company's stock, with institutional ownership figures consistently reported in the range of 86% to 97% of the outstanding shares.

This leaves the retail investor (you and me) with a comparatively small stake, often around 5.19% of the float, which is typical for a company of this size and market cap. The top institutional holders, such as Pzena Investment Management LLC and FMR LLC, hold significant positions, often exceeding 5 million shares each, making their trading decisions major market movers. Honestly, when the big funds move, the stock moves with them.

Here's a quick look at the shareholder breakdown:

Investment Motivations: Value, Turnaround, and Cash Flow

Investors are drawn to PVH Corp. for a blend of reasons, but the primary motivation right now is the potential for a successful turnaround under the PVH+ Plan. The stock's price decline of over 25% between November 2024 and November 2025, for example, has positioned it as a compelling value play for many.

The key attractions are:

• Value Proposition: The stock trades at a lower multiple than some peers, attracting value investors like Pzena Investment Management. They see a discount relative to the value of the iconic Calvin Klein and Tommy Hilfiger brands.
• Turnaround Execution: The PVH+ Plan is the roadmap. Management's focus on brand, digital, and direct-to-consumer (DTC) growth is intended to drive sustainable, profitable growth. This is a bet on execution.
• Stable Profit Guidance: Despite broader retail uncertainty and a CFO transition in late 2025, the company has held firm on its fiscal 2025 non-GAAP earnings per share (EPS) guidance of $10.75 to $11.00. This stability in profit expectation eases investor nerves.
• Capital Returns: PVH Corp. continues to prioritize returning capital to shareholders, evidenced by the quarterly cash dividend declared in October 2025.

The company's projected non-GAAP operating margin of approximately 8.5% for fiscal 2025 shows a focus on operational discipline and margin protection, which is a big green flag for institutional money. You can learn more about the foundation of this strategy in PVH Corp. (PVH): History, Ownership, Mission, How It Works & Makes Money.

Investment Strategies in Play: Long-Term vs. Tactical

We see two main strategies at work here: the long-term, passive approach and the more active, tactical value strategy.

Passive and Long-Term Holding:

Large asset managers like Vanguard Group Inc. and BlackRock, Inc. hold PVH Corp. shares primarily through their index funds and ETFs. This is a passive, long-term holding strategy, meaning they are buying the market, not necessarily making a tactical bet on the company's immediate future. They are the bedrock of the stock's ownership structure.

Active Value and Tactical Trading:

Many of the major active investors, including value-focused funds like Dimensional Fund Advisors LP, are employing a value investing strategy. They see the stock as undervalued based on its earnings power, even with only slight revenue growth projected for fiscal 2025. They are buying into the turnaround story, anticipating that the PVH+ Plan will close the gap between the stock price and the intrinsic value of the brands. On the flip side, some hedge funds have been actively reducing their stakes, with one example showing a cut of over 90% in the second quarter of 2025, suggesting a more tactical or short-term trading approach based on near-term market conditions or risk aversion. This is the constant push-and-pull in a turnaround story.

Actionable Insight: Track the 13F filings of the top value-oriented shareholders like Pzena Investment Management LLC. If they start aggressively selling, it signals a major loss of confidence in the turnaround story. Finance: Monitor Q3 2025 earnings call commentary for any shift in the $10.75 to $11.00 EPS guidance.

Institutional Ownership and Major Shareholders of PVH Corp. (PVH)

You need to know who is buying PVH Corp. (PVH) and why, because the composition of its institutional base dictates both stock stability and strategic direction. The core takeaway is that PVH is overwhelmingly owned by large, passive, and active funds, with institutional investors holding a staggering 97.25% of the company's stock, as reported in recent filings.

This level of ownership means that the company's strategy and governance are defintely tied to the priorities of these few major players. For a deeper dive into the company's foundation, you can check out PVH Corp. (PVH): History, Ownership, Mission, How It Works & Makes Money.

Top Institutional Investors: Who Holds the Bulk of PVH?

The top institutional holders of PVH Corp. are a mix of large index funds and active value managers. These institutions aren't just buying a few shares; they own significant blocks that give them a powerful voice in corporate matters. Here's the quick math: the top five institutional holders alone control a considerable portion of the float. Their positions are massive, reflecting a strong conviction in the long-term value of the Calvin Klein and Tommy Hilfiger brands.

The latest 13F filings (as of Q3 2025, September 30) show the following major positions:

• Pzena Investment Management LLC leads the pack with 6,254,994 shares, valued at approximately $523,981,000.
• Fmr LLC holds the second-largest position with 5,881,489 shares, worth about $492,692,000.
• Vanguard Group Inc. and BlackRock Inc., representing huge passive index and active strategies, hold 4,835,562 shares and 4,513,255 shares, respectively.

These four firms alone command a significant percentage of the company's market capitalization, which was around $3.54 billion as of November 2025.

Recent Shifts in Ownership: Tracking the Smart Money

The institutional landscape isn't static; recent quarters show a clear divergence in conviction, which is normal. We saw 161 institutional investors add to their positions in Q3 2025, but 263 decreased theirs. This tells you that while the total institutional ownership is high, there's a debate happening among the professional money managers about the near-term trajectory of the stock.

You need to pay attention to the magnitude of these changes:

• Significant Buys: Vaughan Nelson Investment Management, L.P. made a huge move, adding 887,405 shares in Q3 2025. Also, LSV Asset Management boosted its portfolio by 634,887 shares, a 47.8% increase.
• Major Sells: On the flip side, SOUND SHORE MANAGEMENT INC /CT/ completely exited its position in Q2 2025, removing 877,907 shares. CITADEL ADVISORS LLC also cut its stake by a substantial 64.1%, unloading 740,373 shares in Q3 2025.

These moves suggest some institutions are betting on the success of the 'PVH Plan'-the company's strategy to drive efficiency and boost its core brands-while others are taking profits or rotating into different sectors.

Impact of Institutional Investors on PVH's Strategy

With nearly all the stock held by institutions, these investors play a critical role in PVH Corp.'s stock price and corporate strategy. They are the primary audience for management's communications, and their focus on key metrics directly influences corporate decisions.

Stock Price Influence: High institutional ownership often means lower volatility because these funds are generally long-term holders. But, when a major fund like Citadel or Sound Shore makes a large sale, it can create significant downward pressure. Their collective sentiment drives the stock's overall momentum.

Strategic Alignment: The institutional focus is currently on PVH's ability to deliver on its financial projections. The company recently reaffirmed its full Fiscal Year 2025 EPS guidance in the range of $10.75 to $11.00, a figure these large shareholders are watching closely as a measure of the PVH Plan's success. Institutional investors demand accountability, which is why a recent CFO transition was framed around maintaining the strategic roadmap and operational continuity.

Your next step is to monitor the Q4 2025 filings to see if the recent buying trend accelerates, which would signal a stronger institutional consensus on PVH's turnaround plan.

Key Investors and Their Impact on PVH Corp. (PVH)

If you're looking at PVH Corp. (PVH)-the powerhouse behind Calvin Klein and Tommy Hilfiger-you need to know that this is a stock overwhelmingly controlled by professional money managers. Institutional investors, which are large funds and firms, own a staggering 97.25% of the company's common stock. This high concentration means company strategy and stock price are defintely driven by the collective decisions of a few major players, not by retail investor sentiment.

The investor profile is less about a single activist and more about a coalition of mega-funds seeking steady returns from a turnaround story. You can see a detailed breakdown of how the company's core brands operate and generate revenue in PVH Corp. (PVH): History, Ownership, Mission, How It Works & Makes Money.

The Institutional Giants: Who Holds the Keys?

The top shareholders in PVH Corp. are the names you see everywhere in the S&P 500, managing trillions of dollars. Their presence provides a baseline of stability but also implies a focus on long-term execution of the company's strategic plan (the PVH+ Plan). These investors often act as passive anchors, but their sheer size gives them enormous influence during proxy votes or capital allocation decisions.

Here's a snapshot of the top institutional holders as of the most recent filings, which largely reflect the end of the third quarter of the 2025 fiscal year:

This group, including BlackRock, Inc. and Vanguard Group Inc., holds millions of shares, meaning they're essentially voting for the PVH+ Plan's focus on brand elevation and cost discipline. They want to see the company hit its full-year 2025 non-GAAP EPS guidance of $10.75 to $11.00.

Recent Moves: The Tug-of-War Between Buyers and Sellers

The second and third quarters of 2025 saw a fascinating split in investor sentiment, reflecting the market's caution about macro headwinds versus confidence in the company's internal execution. You had some funds aggressively buying in, betting on the turnaround, while others took profits or cut losses.

• The Bulls: Southeastern Asset Management Inc/Tn/ made a massive vote of confidence, boosting its stake by over 126% (764,168 shares) in Q2 2025. Smaller, specialized funds like Bastion Asset Management Inc. and Hantz Financial Services Inc. also dramatically increased their positions by 1,347.1% and 1,284.4% respectively, looking for a strong rebound.
• The Bears: On the other side, some funds significantly reduced their exposure. Campbell & CO Investment Adviser LLC cut its stake by 90.1% in Q2 2025, selling 46,750 shares. This selling often signals concerns about the company's vulnerability to global economic slowdowns or the impact of U.S. tariffs.

The most telling sign of internal confidence came in June 2025, when CEO Stefan Larsson purchased $1.00 million worth of shares, a classic move to signal to the market that leadership believes the stock is undervalued. That's a strong signal, but still, the stock is volatile.

Investor Influence: The PVH+ Plan and Capital Returns

The primary driver of investor confidence is the PVH+ Plan, which focuses on making Calvin Klein and Tommy Hilfiger more desirable global lifestyle brands. The investors are watching two key areas: brand growth and capital returns.

In the second quarter of 2025, the company reported revenue of $2.167 billion, a 4% increase year-over-year, beating estimates. This growth, particularly the 5% revenue increase for Calvin Klein, keeps the big funds happy. Also, the company's commitment to returning cash to shareholders is critical; PVH Corp. spent $561 million on its stock repurchase program in the first quarter of 2025 alone. That's a huge commitment to shrinking the float of 48,073,120 outstanding shares and boosting earnings per share. The investors are essentially telling management: keep buying back stock and keep the brands growing.

Market Impact and Investor Sentiment

You're looking at PVH Corp. (PVH) right now and seeing a mixed signal: the stock price has been under pressure, but Wall Street analysts are still telling you to buy. Honestly, that's the classic disconnect between short-term market noise and long-term fundamental value.

The institutional sentiment is defintely the driving force here, with major firms owning approximately 97.25% of the stock, a sign of conviction from the heavy hitters. However, that high ownership also means any shift in institutional positioning-like the 263 institutions that decreased their positions in Q3 2025-can cause outsized volatility.

The insider activity offers a positive counterpoint. The CEO, Stefan Larsson, made a significant purchase of 15,644 shares in the last six months, a move that signals management's belief the stock is undervalued.

Recent Market Reactions: Reading the Signals

The market has been quick to punish PVH on any sign of margin pressure, but it rewards clear strategic execution. For instance, the stock dropped about 25.3% year-to-date in 2025, which shows investors are nervous about global demand and profitability, especially in key regions like Asia Pacific.

But look at the positive reaction in April 2025: the stock jumped more than 18 percent after the company announced a positive 2025 outlook and a new $500 million accelerated share repurchase (ASR) program. That's a clear signal: investors want to see capital returned and a strong forward-looking plan.

What this tells you is simple: the market is trading on execution, not just on brand recognition.

• Stock fell 3.1% after a Q2 earnings beat, focusing on shrinking profitability.
• Shares surged when management committed to a $500 million ASR.
• The recent CFO departure in November 2025 was managed by immediately reaffirming the full-year 2025 guidance, which helped stabilize the stock.

Analyst Perspectives and the 2025 Financial Picture

The consensus among the 15 analysts covering PVH Corp. is a 'Buy' rating, with an average price target of around $92.47. That implies a potential upside of over 26.91% from recent prices, suggesting they see a significant discount right now. Here's the quick math: the Discounted Cash Flow (DCF) analysis from early November 2025 suggested an intrinsic fair value of $118.82 per share, meaning the stock is trading at a substantial discount to its true worth.

The core of the analyst optimism is grounded in the company's financial guidance for the 2025 fiscal year. Management has guided for Earnings Per Share (EPS) to be in the range of $10.75 to $11.00, which is a solid increase over the prior year. This growth, plus the strength of its core brands Calvin Klein and Tommy Hilfiger, is what keeps the 'Buy' ratings in place, despite macro headwinds.

You need to know the numbers that matter for this year. They are the bedrock of the bullish argument, and they tie directly into the company's strategic focus, which you can read more about here: Mission Statement, Vision, & Core Values of PVH Corp. (PVH).

The biggest risk analysts see is not the brands themselves, but the execution of the PVH+ Plan in a tough global environment, especially with a forecasted revenue growth rate of only 2.22% for the next few years, which trails the Apparel Manufacturing industry average. This is why almost half of the analysts have a 'Hold' rating-they are waiting for clearer proof of margin expansion and consistent growth before going all-in.