State of New Jersey Common Pension Fund D Sells 3,299 Shares of PVH Corp. (NYSE:PVH)

State of New Jersey Common Pension Fund D lessened its holdings in PVH Corp. (NYSE:PVH) by 9.3% during the 4th quarter, HoldingsChannel reports. The institutional investor 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’s holdings in PVH were worth $3,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of PVH by 2,600.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 270 shares of the textile maker’s stock worth $33,000 after purchasing an additional 260 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of PVH in the 4th quarter worth about $38,000. Lindbrook Capital LLC grew its holdings in shares of PVH by 26.8% in the 4th quarter. Lindbrook Capital LLC now owns 521 shares of the textile maker’s stock worth $64,000 after purchasing an additional 110 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of PVH in the 4th quarter worth about $130,000. Finally, SG Americas Securities LLC grew its holdings in shares of PVH by 26.9% in the 3rd quarter. SG Americas Securities LLC now owns 2,304 shares of the textile maker’s stock worth $176,000 after purchasing an additional 488 shares during the last quarter. Institutional investors own 97.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PVH. Barclays lowered their target price on shares of PVH from $157.00 to $149.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Citigroup decreased their price objective on shares of PVH from $139.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, April 3rd. Telsey Advisory Group decreased their price objective on shares of PVH from $155.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday, April 2nd. Wells Fargo & Company decreased their price objective on shares of PVH from $150.00 to $138.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Finally, UBS Group increased their price objective on shares of PVH from $158.00 to $159.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, PVH currently has a consensus rating of “Moderate Buy” and an average price target of $129.40.

Insider Buying and Selling

In other news, EVP James Holmes sold 3,000 shares of PVH stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $108.39, for a total value of $325,170.00. Following the sale, the executive vice president now directly owns 13,904 shares in the company, valued at $1,507,054.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is owned by company insiders.

PVH Stock Performance

Shares of NYSE:PVH opened at $111.03 on Friday. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 1.06 and a beta of 2.20. The firm’s 50 day simple moving average is $125.01 and its 200 day simple moving average is $110.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.18 and a quick ratio of 0.66. PVH Corp. has a fifty-two week low of $69.27 and a fifty-two week high of $141.15.

PVH (NYSE:PVH) last posted its earnings results on Tuesday, April 2nd. The textile maker reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.21. PVH had a return on equity of 12.96% and a net margin of 7.20%. The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the prior year, the business earned $2.38 EPS. PVH’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts forecast that PVH Corp. will post 10.93 earnings per share for the current year.

PVH Dividend Announcement

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

PVH declared that its Board of Directors has authorized a share buyback program on Monday, April 1st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the textile maker to repurchase up to 24% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.