17,000 Shares in PVH Corp. (NYSE:PVH) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in PVH Corp. (NYSE:PVH) in the fourth quarter, Holdings Channel reports. The institutional investor bought 17,000 shares of the textile maker’s stock, valued at approximately $2,076,000.

A number of other hedge funds also recently bought and sold shares of the company. Creative Planning lifted its position in PVH by 2.6% in the 3rd quarter. Creative Planning now owns 5,074 shares of the textile maker’s stock worth $388,000 after buying an additional 128 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in PVH by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 27,389 shares of the textile maker’s stock valued at $2,096,000 after purchasing an additional 140 shares during the last quarter. Belpointe Asset Management LLC lifted its position in PVH by 39.8% in the first quarter. Belpointe Asset Management LLC now owns 492 shares of the textile maker’s stock valued at $44,000 after purchasing an additional 140 shares during the last quarter. Quarry LP lifted its position in PVH by 81.8% in the second quarter. Quarry LP now owns 320 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 144 shares during the last quarter. Finally, Natixis Advisors L.P. lifted its position in PVH by 1.3% in the third quarter. Natixis Advisors L.P. now owns 13,229 shares of the textile maker’s stock valued at $1,012,000 after purchasing an additional 165 shares during the last quarter. Institutional investors own 97.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. TD Cowen boosted their price objective on PVH from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Citigroup lowered their price objective on PVH from $139.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, April 3rd. Morgan Stanley lowered their price objective on PVH from $134.00 to $110.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 3rd. UBS Group boosted their price objective on PVH from $158.00 to $159.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, Bank of America reduced their target price on PVH from $156.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $129.40.

PVH Price Performance

Shares of PVH stock opened at $105.75 on Thursday. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 1.03 and a beta of 2.20. The business’s fifty day moving average is $127.61 and its 200 day moving average is $109.10. PVH Corp. has a twelve month low of $69.27 and a twelve month high of $141.15. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.31.

PVH (NYSE:PVH) last issued its quarterly earnings results on Tuesday, April 2nd. The textile maker reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.21. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.42 billion. PVH had a return on equity of 12.96% and a net margin of 7.20%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.38 earnings per share. Research analysts expect that PVH Corp. will post 10.93 EPS for the current fiscal year.

PVH Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were paid a $0.0375 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. PVH’s dividend payout ratio is currently 1.38%.

PVH declared that its Board of Directors has initiated a share repurchase plan on Monday, April 1st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the textile maker to purchase up to 24% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at PVH

In other news, EVP James Holmes sold 3,000 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $108.39, for a total value of $325,170.00. Following the sale, the executive vice president now directly owns 13,904 shares of the company’s stock, valued at $1,507,054.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.78% of the company’s stock.

PVH Company Profile

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, and Heritage Brands Wholesale segments. It designs and markets men's, women's, and children's branded apparel, footwear and accessories, underwear, sleepwear, outerwear, home furnishings, luggage, dresses, suits and swimwear, activewear, sportswear, socks and accessories, outerwear, golf products, footwear, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, jeans wear, performance apparel, intimate apparel, dress shirts, handbags, fragrance, small leather goods, and other related products; and men's and boy's tailored clothing products, duvets, pillows, mattress pads and toppers, and feather beds.