Teacher Retirement System of Texas lowered its holdings in shares of PVH Corp (NYSE:PVH) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,238 shares of the textile maker’s stock after selling 6,901 shares during the period. Teacher Retirement System of Texas owned approximately 0.14% of PVH worth $10,154,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. SRS Capital Advisors Inc. raised its holdings in shares of PVH by 15.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 994 shares of the textile maker’s stock valued at $92,000 after purchasing an additional 131 shares during the last quarter. ETF Managers Group LLC raised its holdings in shares of PVH by 18.7% during the fourth quarter. ETF Managers Group LLC now owns 882 shares of the textile maker’s stock valued at $82,000 after purchasing an additional 139 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of PVH by 5.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,703 shares of the textile maker’s stock valued at $251,000 after purchasing an additional 150 shares during the last quarter. First Hawaiian Bank raised its holdings in shares of PVH by 2.5% during the fourth quarter. First Hawaiian Bank now owns 6,340 shares of the textile maker’s stock valued at $589,000 after purchasing an additional 155 shares during the last quarter. Finally, CSat Investment Advisory L.P. raised its holdings in shares of PVH by 146.7% during the fourth quarter. CSat Investment Advisory L.P. now owns 375 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 96.14% of the company’s stock.
PVH stock traded up $0.58 during midday trading on Wednesday, reaching $132.71. 556,200 shares of the company’s stock traded hands, compared to its average volume of 1,137,918. PVH Corp has a 52-week low of $86.46 and a 52-week high of $169.22. The stock has a market cap of $9.90 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.05 and a beta of 1.08. The company has a current ratio of 1.71, a quick ratio of 0.80 and a debt-to-equity ratio of 0.48.
PVH declared that its Board of Directors has authorized a share buyback program on Wednesday, March 27th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the textile maker to buy up to 8.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 28th were given a $0.0375 dividend. The ex-dividend date was Wednesday, February 27th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. PVH’s payout ratio is currently 1.56%.
In other PVH news, SVP Dana Perlman sold 1,054 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $128.92, for a total value of $135,881.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Francis K. Duane sold 6,171 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $127.27, for a total transaction of $785,383.17. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of PVH from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a report on Monday, March 4th. Credit Suisse Group boosted their price objective on shares of PVH from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Cowen cut shares of PVH from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $142.00 to $119.00 in a report on Tuesday, January 22nd. Telsey Advisory Group reissued an “outperform” rating and set a $145.00 price objective (down from $155.00) on shares of PVH in a report on Friday, January 11th. Finally, ValuEngine cut shares of PVH from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $146.40.
PVH Corp. operates as an apparel company in North America and internationally. The company operates through six segments: Calvin Klein North America, Calvin Klein International, Tommy Hilfiger North America, Tommy Hilfiger International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's and women's apparel and accessories, including branded dress shirts, dresses, suits, neckwear, sportswear, jeans wear, performance and intimate apparel, underwear, swimwear, swim products, handbags, luggage products, footwear, golf apparel, sleepwear and loungewear, fragrances, cosmetics, skincare products and toiletries, socks and tights, jewelry, watches, outerwear, small leather goods, and furnishings, as well as other related products.
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