State of New Jersey Common Pension Fund D Trims Stock Position in PVH Corp. (NYSE:PVH)

State of New Jersey Common Pension Fund D decreased its position in shares of PVH Corp. (NYSE:PVH) by 9.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 32,088 shares of the textile maker’s stock after selling 3,299 shares during the period. State of New Jersey Common Pension Fund D owned 0.05% of PVH worth $3,919,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC purchased a new position in shares of PVH during the fourth quarter valued at approximately $38,000. New York State Common Retirement Fund lifted its stake in shares of PVH by 165.7% during the fourth quarter. New York State Common Retirement Fund now owns 173,154 shares of the textile maker’s stock valued at $21,146,000 after buying an additional 107,983 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of PVH during the fourth quarter valued at approximately $45,911,000. Lindbrook Capital LLC lifted its stake in shares of PVH by 26.8% during the fourth quarter. Lindbrook Capital LLC now owns 521 shares of the textile maker’s stock valued at $64,000 after buying an additional 110 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of PVH by 7.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,009 shares of the textile maker’s stock valued at $1,589,000 after buying an additional 930 shares during the period. Hedge funds and other institutional investors own 97.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group increased their price target on shares of PVH from $158.00 to $159.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Citigroup cut their price target on shares of PVH from $139.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 3rd. TD Cowen increased their price target on shares of PVH from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Guggenheim increased their price target on shares of PVH from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, Telsey Advisory Group cut their price target on shares of PVH from $155.00 to $140.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, PVH has a consensus rating of “Moderate Buy” and an average target price of $129.40.

PVH Price Performance

PVH stock opened at $111.03 on Friday. The company has a market capitalization of $6.41 billion, a PE ratio of 10.23, a P/E/G ratio of 1.06 and a beta of 2.20. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average is $125.01 and its two-hundred day moving average is $110.64. PVH Corp. has a 52-week low of $69.27 and a 52-week high of $141.15.

PVH (NYSE:PVH) last announced its quarterly earnings data 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 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%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the business earned $2.38 EPS. Analysts predict that PVH Corp. will post 10.93 earnings per share for the current fiscal year.

PVH Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were given a dividend of $0.0375 per share. 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 dividend payout ratio is currently 1.38%.

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

Insiders Place Their Bets

In related news, EVP James Holmes sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $108.39, for a total transaction of $325,170.00. Following the completion of the sale, the executive vice president now 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 is available through this link. 0.78% of the stock is owned by corporate insiders.

PVH 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.