New York State Common Retirement Fund Increases Position in PVH Corp. (NYSE:PVH)

New York State Common Retirement Fund raised its holdings in shares of PVH Corp. (NYSE:PVH) by 61.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,417 shares of the textile maker’s stock after buying an additional 67,539 shares during the period. New York State Common Retirement Fund’s holdings in PVH were worth $18,762,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of PVH during the fourth quarter valued at approximately $306,000. Peregrine Capital Management LLC boosted its holdings in shares of PVH by 27.3% in the fourth quarter. Peregrine Capital Management LLC now owns 49,725 shares of the textile maker’s stock valued at $5,258,000 after purchasing an additional 10,659 shares during the period. Truist Financial Corp boosted its holdings in shares of PVH by 70.8% in the fourth quarter. Truist Financial Corp now owns 6,498 shares of the textile maker’s stock valued at $687,000 after purchasing an additional 2,693 shares during the period. Allworth Financial LP purchased a new stake in shares of PVH in the fourth quarter valued at approximately $50,000. Finally, Vontobel Holding Ltd. boosted its holdings in shares of PVH by 76.6% in the fourth quarter. Vontobel Holding Ltd. now owns 4,341 shares of the textile maker’s stock valued at $459,000 after purchasing an additional 1,883 shares during the period. Hedge funds and other institutional investors own 97.25% of the company’s stock.

PVH Stock Performance

Shares of PVH stock opened at $78.73 on Friday. The business’s fifty day simple moving average is $94.40 and its 200-day simple moving average is $98.01. The company has a market cap of $4.38 billion, a PE ratio of 6.41, a PEG ratio of 0.77 and a beta of 2.06. The company has a current ratio of 1.29, a quick ratio of 0.69 and a debt-to-equity ratio of 0.31. PVH Corp. has a 12-month low of $76.34 and a 12-month high of $141.15.

PVH (NYSE:PVH) last issued its quarterly earnings results on Wednesday, December 4th. The textile maker reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.44. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.22 billion. PVH had a return on equity of 13.66% and a net margin of 8.13%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.90 earnings per share. Analysts expect 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, March 26th. Investors of record on Wednesday, March 5th will be given a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Wednesday, March 5th. PVH’s payout ratio is 1.22%.

Insider Activity at PVH

In related news, EVP Mark D. Fischer sold 3,186 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $105.50, for a total value of $336,123.00. Following the transaction, the executive vice president now directly owns 23,103 shares of the company’s stock, valued at $2,437,366.50. This represents a 12.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on PVH shares. Barclays lowered their price target on PVH from $144.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. StockNews.com lowered PVH from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Jefferies Financial Group reduced their price objective on shares of PVH from $104.00 to $101.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. downgraded shares of PVH from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $149.00 to $113.00 in a research note on Friday, January 24th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $130.00 price objective on shares of PVH in a research note on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $119.07.

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.