State Street Corp Sells 6,214 Shares of PVH Corp. (NYSE:PVH)

State Street Corp lessened its stake in shares of PVH Corp. (NYSE:PVH) by 0.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,723,536 shares of the textile maker’s stock after selling 6,214 shares during the quarter. State Street Corp’s holdings in PVH were worth $173,784,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Systematic Financial Management LP acquired a new stake in shares of PVH in the third quarter worth $712,000. Quantinno Capital Management LP increased its stake in PVH by 18.5% during the third quarter. Quantinno Capital Management LP now owns 37,306 shares of the textile maker’s stock valued at $3,762,000 after acquiring an additional 5,817 shares during the period. Redwood Investment Management LLC raised its holdings in PVH by 4.1% in the 3rd quarter. Redwood Investment Management LLC now owns 13,647 shares of the textile maker’s stock valued at $1,371,000 after acquiring an additional 534 shares in the last quarter. Petrus Trust Company LTA lifted its position in shares of PVH by 42.8% in the 3rd quarter. Petrus Trust Company LTA now owns 12,188 shares of the textile maker’s stock worth $1,229,000 after acquiring an additional 3,652 shares during the period. Finally, Clearline Capital LP grew its holdings in shares of PVH by 43.7% during the 3rd quarter. Clearline Capital LP now owns 127,745 shares of the textile maker’s stock worth $12,881,000 after purchasing an additional 38,864 shares in the last quarter. 97.25% of the stock is currently owned by institutional investors and hedge funds.

PVH Stock Performance

PVH stock opened at $107.17 on Friday. The stock has a 50-day simple moving average of $101.78 and a 200 day simple moving average of $102.96. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 8.73, a P/E/G ratio of 0.97 and a beta of 2.10. The company has a quick ratio of 0.69, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. PVH Corp. has a 12-month low of $89.56 and a 12-month high of $141.15.

PVH (NYSE:PVH) last announced its earnings results on Wednesday, December 4th. The textile maker reported $3.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.44. PVH had a net margin of 8.13% and a return on equity of 13.66%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the firm posted $2.90 earnings per share. The company’s revenue was down 4.6% on a year-over-year basis. On average, research analysts anticipate that PVH Corp. will post 11.67 earnings per share for the current fiscal year.

PVH Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be paid a $0.0375 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.15 annualized dividend and a dividend yield of 0.14%. PVH’s dividend payout ratio (DPR) is currently 1.22%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Guggenheim upped their target price on PVH from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, December 6th. BMO Capital Markets cut their price target on shares of PVH from $119.00 to $106.00 and set a “market perform” rating for the company in a research note on Wednesday, August 28th. Barclays upped their price objective on PVH from $142.00 to $144.00 and gave the company an “overweight” rating in a research note on Monday. StockNews.com downgraded PVH from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 16th. Finally, TD Cowen dropped their price objective on PVH from $149.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $128.00.

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.