PVH Corp. (NYSE:PVH) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System decreased its position in PVH Corp. (NYSE:PVH) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,500 shares of the textile maker’s stock after selling 500 shares during the quarter. State of Michigan Retirement System’s holdings in PVH were worth $1,771,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates lifted its position in shares of PVH by 20.3% during the 1st quarter. Raymond James & Associates now owns 19,681 shares of the textile maker’s stock worth $1,508,000 after buying an additional 3,326 shares during the last quarter. HighTower Advisors LLC lifted its position in PVH by 17.8% in the first quarter. HighTower Advisors LLC now owns 6,146 shares of the textile maker’s stock valued at $472,000 after acquiring an additional 930 shares during the last quarter. Citigroup Inc. boosted its stake in PVH by 29.2% in the first quarter. Citigroup Inc. now owns 35,739 shares of the textile maker’s stock valued at $2,738,000 after acquiring an additional 8,081 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of PVH by 2.0% during the first quarter. PNC Financial Services Group Inc. now owns 11,444 shares of the textile maker’s stock worth $877,000 after purchasing an additional 226 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of PVH by 21.3% during the first quarter. MetLife Investment Management LLC now owns 19,033 shares of the textile maker’s stock worth $1,458,000 after purchasing an additional 3,336 shares in the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup dropped their price target on PVH from $139.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. cut their target price on shares of PVH from $165.00 to $146.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Barclays reduced their price target on shares of PVH from $157.00 to $149.00 and set an “overweight” rating for the company in a research report on Thursday. Wells Fargo & Company lowered their price objective on shares of PVH from $150.00 to $138.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group upgraded shares of PVH from a “neutral” rating to a “buy” rating and increased their target price for the stock from $99.00 to $126.00 in a research note on Tuesday, December 12th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, PVH presently has a consensus rating of “Moderate Buy” and an average target price of $126.00.

PVH Trading Up 2.1 %

NYSE PVH opened at $108.66 on Friday. The stock has a market capitalization of $6.27 billion, a P/E ratio of 10.01, a P/E/G ratio of 0.64 and a beta of 2.20. PVH Corp. has a 52-week low of $69.27 and a 52-week high of $141.15. The firm has a 50-day moving average price of $129.87 and a 200 day moving average price of $107.28. 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 posted its quarterly earnings results on Tuesday, April 2nd. The textile maker reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.21. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.42 billion. PVH had a net margin of 7.20% and a return on equity of 12.96%. 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 company posted $2.38 earnings per share. Equities research analysts expect that PVH Corp. will post 10.86 EPS for the current year.

PVH Dividend Announcement

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

PVH announced that its board has authorized a share repurchase program on Monday, April 1st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the textile maker to buy up to 24% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, EVP Mark D. Fischer sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $123.00, for a total value of $430,500.00. Following the sale, the executive vice president now owns 27,903 shares in the company, valued at approximately $3,432,069. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.78% of the company’s stock.

About PVH

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's, women's, and children's apparel and accessories, include branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, swimwear, swim-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage products, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, home bed and bath furnishings, small leather goods, and other products.