Zurcher Kantonalbank Zurich Cantonalbank Acquires 930 Shares of PVH Corp. (NYSE:PVH)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PVH Corp. (NYSE:PVH) by 7.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,009 shares of the textile maker’s stock after purchasing an additional 930 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PVH were worth $1,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC increased its holdings in PVH by 15.9% in the 3rd quarter. FMR LLC now owns 7,198,557 shares of the textile maker’s stock valued at $550,762,000 after buying an additional 987,957 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in PVH by 0.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,080,588 shares of the textile maker’s stock valued at $159,186,000 after buying an additional 10,164 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of PVH by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 658,620 shares of the textile maker’s stock worth $50,391,000 after purchasing an additional 37,300 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of PVH by 9.1% in the 3rd quarter. Victory Capital Management Inc. now owns 485,180 shares of the textile maker’s stock worth $37,121,000 after purchasing an additional 40,514 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of PVH by 51.6% in the 3rd quarter. Invesco Ltd. now owns 422,584 shares of the textile maker’s stock worth $32,332,000 after purchasing an additional 143,832 shares during the last quarter. Institutional investors own 97.25% of the company’s stock.

Insider Buying and Selling at PVH

In related news, EVP James Holmes sold 3,000 shares of PVH stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $108.39, for a total transaction of $325,170.00. Following the transaction, the executive vice president now owns 13,904 shares of the company’s stock, valued at approximately $1,507,054.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. TD Cowen upped their target price on shares of PVH from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Morgan Stanley lowered their target price on shares of PVH from $134.00 to $110.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 3rd. Barclays lowered their target price on shares of PVH from $157.00 to $149.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Wedbush raised shares of PVH from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $113.00 to $128.00 in a report on Monday, April 15th. Finally, Telsey Advisory Group decreased their price objective on shares of PVH from $155.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $129.40.

PVH Stock Performance

PVH stock opened at $110.78 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. PVH Corp. has a 1 year low of $69.27 and a 1 year high of $141.15. The company has a market cap of $6.39 billion, a PE ratio of 10.21, a PEG ratio of 1.08 and a beta of 2.20. The company’s 50-day moving average is $125.43 and its two-hundred day moving average is $110.38.

PVH (NYSE:PVH) last released its earnings results on Tuesday, April 2nd. The textile maker reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.21. PVH had a net margin of 7.20% and a return on equity of 12.96%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the company posted $2.38 EPS. The company’s revenue was up .0% compared to the same quarter last year. Equities analysts anticipate that PVH Corp. will post 10.93 earnings per share for the current year.

PVH declared that its board has authorized a stock repurchase program on Monday, April 1st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the textile maker to reacquire up to 24% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

PVH Announces Dividend

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

About PVH

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.