RBC Sells $1B Stake in PVH Corp.

Royal Bank of Canada has reduced its stake in PVH Corp., selling 17,096 shares in the first quarter. The bank now owns 15,506 shares of the textile maker's stock, valued at $1,082,000.

This is not an isolated incident, other hedge funds have also made changes to their stakes in PVH during the second and third quarters. Global Retirement Partners LLC increased its holdings by 513.9%, while Larson Financial Group LLC grew its position by 70,300%.

PVH Corp. has reported a strong quarter, with earnings per share of $2.01 beating analyst estimates. The company's revenue was up 2.1% year-over-year, and it has set guidance for the second quarter and fiscal year 2026.