New York Life Investment Management LLC Lowers Position in PVH Corp. (NYSE:PVH)

New York Life Investment Management LLC decreased its stake in shares of PVH Corp. (NYSE:PVH) by 9.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,833 shares of the textile maker’s stock after selling 753 shares during the period. New York Life Investment Management LLC’s holdings in PVH were worth $834,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PVH. Allspring Global Investments Holdings LLC boosted its stake in shares of PVH by 2,600.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 270 shares of the textile maker’s stock worth $33,000 after buying an additional 260 shares during the last quarter. GAMMA Investing LLC bought a new stake in PVH during the fourth quarter worth $38,000. Lindbrook Capital LLC boosted its position in PVH by 26.8% in the fourth quarter. Lindbrook Capital LLC now owns 521 shares of the textile maker’s stock worth $64,000 after purchasing an additional 110 shares during the last quarter. Planned Solutions Inc. bought a new position in PVH in the 4th quarter valued at $130,000. Finally, SG Americas Securities LLC increased its position in shares of PVH by 26.9% during the 3rd quarter. SG Americas Securities LLC now owns 2,304 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 97.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PVH shares. Guggenheim increased their price target on shares of PVH from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Wedbush upgraded shares of PVH from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $113.00 to $128.00 in a research note on Monday, April 15th. UBS Group lifted their price target on shares of PVH from $158.00 to $159.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. increased their price objective on PVH from $146.00 to $157.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Jefferies Financial Group assumed coverage on PVH in a research note on Tuesday, April 30th. They issued a “hold” rating and a $115.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, PVH presently has an average rating of “Moderate Buy” and an average price target of $128.50.

Insider Buying and Selling

In other PVH news, EVP James Holmes sold 3,000 shares of the business’s stock in a transaction 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 directly owns 13,904 shares of the company’s stock, valued at approximately $1,507,054.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.78% of the stock is currently owned by insiders.

PVH Stock Performance

NYSE:PVH opened at $113.94 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 1.18. PVH Corp. has a fifty-two week low of $69.27 and a fifty-two week high of $141.15. The business has a 50 day moving average price of $121.50 and a 200-day moving average price of $113.06. The firm has a market cap of $6.57 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 1.08 and a beta of 2.24.

PVH (NYSE:PVH) last posted its earnings results on Tuesday, April 2nd. The textile maker reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.21. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.42 billion. PVH had a net margin of 7.20% and a return on equity of 12.96%. PVH’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $2.38 earnings per share. Equities research analysts predict that PVH Corp. will post 10.92 earnings per share for the current year.

PVH Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th will be paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Wednesday, June 5th. PVH’s payout ratio is 1.38%.

PVH announced that its board has authorized a stock buyback plan on Monday, April 1st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the textile maker to purchase up to 24% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.