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

Arizona State Retirement System cut its position in shares of PVH Corp. (NYSE:PVH) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,892 shares of the textile maker’s stock after selling 965 shares during the quarter. Arizona State Retirement System’s holdings in PVH were worth $2,063,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP raised its holdings in PVH by 81.8% during the second quarter. Quarry LP now owns 320 shares of the textile maker’s stock worth $27,000 after purchasing an additional 144 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of PVH in the third quarter worth $25,000. Belpointe Asset Management LLC raised its holdings in shares of PVH by 39.8% in the first quarter. Belpointe Asset Management LLC now owns 492 shares of the textile maker’s stock worth $44,000 after acquiring an additional 140 shares during the last quarter. Atlas Capital Advisors LLC acquired a new position in shares of PVH in the first quarter worth $53,000. Finally, Covestor Ltd raised its holdings in shares of PVH by 69.3% in the first quarter. Covestor Ltd now owns 596 shares of the textile maker’s stock worth $46,000 after acquiring an additional 244 shares during the last quarter. 97.25% of the stock is owned by institutional investors and hedge funds.

PVH Price Performance

PVH stock opened at $108.38 on Friday. The stock has a 50-day moving average price of $128.76 and a two-hundred day moving average price of $107.99. PVH Corp. has a 12-month low of $69.27 and a 12-month high of $141.15. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. The company has a market cap of $6.25 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 0.64 and a beta of 2.20.

PVH (NYSE:PVH) last issued its 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. PVH had a return on equity of 12.96% and a net margin of 7.20%. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the business earned $2.38 earnings per share. The company’s revenue was up .0% compared to the same quarter last year. As a group, research analysts predict that PVH Corp. will post 10.9 EPS for the current year.

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

PVH Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently weighed in on PVH. Morgan Stanley cut their price target on PVH from $134.00 to $110.00 and set an “equal weight” rating for the company in a report on Wednesday, April 3rd. TD Cowen boosted their price target on PVH from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Telsey Advisory Group cut their price target on PVH from $155.00 to $140.00 and set an “outperform” rating for the company in a report on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their price target on PVH from $146.00 to $157.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Guggenheim lifted their price objective on PVH from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.73.

PVH Company Profile

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.