New York State Common Retirement Fund Raises Holdings in PVH Corp. (PVH)
New York State Common Retirement Fund grew its holdings in shares of PVH Corp. (NYSE:PVH) by 0.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,357 shares of the textile maker’s stock after purchasing an additional 680 shares during the quarter. New York State Common Retirement Fund owned about 0.29% of PVH worth $28,156,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of PVH. Prudential Financial Inc. boosted its position in PVH by 154.7% during the second quarter. Prudential Financial Inc. now owns 1,118,095 shares of the textile maker’s stock worth $128,022,000 after purchasing an additional 679,144 shares during the period. Balyasny Asset Management LLC boosted its position in shares of PVH by 136.3% in the second quarter. Balyasny Asset Management LLC now owns 1,173,862 shares of the textile maker’s stock valued at $134,407,000 after acquiring an additional 677,096 shares during the period. Renaissance Technologies LLC boosted its position in shares of PVH by 153.8% in the second quarter. Renaissance Technologies LLC now owns 761,670 shares of the textile maker’s stock valued at $87,211,000 after acquiring an additional 461,600 shares during the period. Ameriprise Financial Inc. boosted its position in shares of PVH by 14.2% in the second quarter. Ameriprise Financial Inc. now owns 3,074,193 shares of the textile maker’s stock valued at $352,005,000 after acquiring an additional 381,336 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of PVH by 548.0% in the second quarter. Royal Bank of Canada now owns 297,303 shares of the textile maker’s stock valued at $34,043,000 after acquiring an additional 251,424 shares during the period. Hedge funds and other institutional investors own 94.36% of the company’s stock.
A number of equities analysts have recently commented on the stock. Cowen set a $145.00 price objective on shares of PVH and gave the company a “buy” rating in a research report on Wednesday, November 1st. Zacks Investment Research lowered shares of PVH from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Wells Fargo & Company set a $158.00 price objective on shares of PVH and gave the company an “outperform” rating in a research report on Thursday, November 30th. Barclays assumed coverage on shares of PVH in a research report on Tuesday, September 19th. They issued an “overweight” rating and a $147.00 price objective for the company. Finally, J P Morgan Chase & Co set a $160.00 price objective on shares of PVH and gave the company a “buy” rating in a research report on Thursday, November 30th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. PVH presently has a consensus rating of “Buy” and an average target price of $143.94.
In related news, SVP James Holmes sold 851 shares of PVH stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $126.99, for a total value of $108,068.49. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by insiders.
Shares of PVH Corp. (NYSE:PVH) traded up $1.67 during midday trading on Monday, hitting $135.40. 554,100 shares of the company traded hands, compared to its average volume of 1,014,717. The company has a current ratio of 1.82, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. PVH Corp. has a 12 month low of $84.53 and a 12 month high of $139.51. The stock has a market capitalization of $10,416.23, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 1.33 and a beta of 0.61.
PVH (NYSE:PVH) last issued its earnings results on Wednesday, November 29th. The textile maker reported $3.02 EPS for the quarter, topping the consensus estimate of $2.91 by $0.11. PVH had a net margin of 6.22% and a return on equity of 11.95%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the firm earned $2.60 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. equities analysts predict that PVH Corp. will post 7.8 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, November 22nd will be paid a $0.038 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Tuesday, November 21st. PVH’s payout ratio is 2.23%.
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PVH Company Profile
PVH Corp. is an apparel company. The Company operates through three segments: Calvin Klein, which consists of the Calvin Klein North America and Calvin Klein International segments; Tommy Hilfiger, which consists of the Tommy Hilfiger North America and Tommy Hilfiger International segments, and Heritage Brands, which consists of the Heritage Brands Wholesale and Heritage Brands Retail segments.
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