PVH Corp. (NYSE:PVH) Holdings Cut by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp cut its stake in shares of PVH Corp. (NYSE:PVH) by 13.9% in the 1st quarter, Holdings Channel reports. The firm owned 23,522 shares of the textile maker’s stock after selling 3,798 shares during the quarter. Alaska Permanent Fund Corp’s holdings in PVH were worth $3,307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PVH. FMR LLC grew its stake in PVH by 15.9% during the 3rd quarter. FMR LLC now owns 7,198,557 shares of the textile maker’s stock worth $550,762,000 after buying an additional 987,957 shares during the last quarter. Channing Capital Management LLC grew its position in shares of PVH by 648.1% during the fourth quarter. Channing Capital Management LLC now owns 581,289 shares of the textile maker’s stock worth $70,987,000 after acquiring an additional 503,586 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in shares of PVH during the fourth quarter worth about $45,911,000. Franklin Resources Inc. increased its holdings in shares of PVH by 1,954.3% in the 4th quarter. Franklin Resources Inc. now owns 352,448 shares of the textile maker’s stock worth $43,041,000 after acquiring an additional 335,291 shares during the period. Finally, Balyasny Asset Management L.P. lifted its position in PVH by 711.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 341,506 shares of the textile maker’s stock valued at $41,705,000 after purchasing an additional 299,418 shares during the last quarter. 97.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. BMO Capital Markets increased their target price on shares of PVH from $110.00 to $119.00 and gave the company a “market perform” rating in a research report on Wednesday, June 5th. Bank of America raised their price objective on shares of PVH from $122.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. JPMorgan Chase & Co. lifted their price target on PVH from $146.00 to $157.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Morgan Stanley raised their target price on shares of PVH from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, June 6th. Finally, Wells Fargo & Company boosted their price target on shares of PVH from $138.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, June 6th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PVH has an average rating of “Moderate Buy” and a consensus price target of $133.81.

PVH Price Performance

NYSE PVH opened at $111.88 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.55 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $6.25 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 0.88 and a beta of 2.15. PVH Corp. has a 12-month low of $69.27 and a 12-month high of $141.15. The company has a 50 day moving average price of $113.72 and a two-hundred day moving average price of $120.32.

PVH (NYSE:PVH) last released its quarterly earnings results on Tuesday, June 4th. The textile maker reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.31. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.93 billion. PVH had a net margin of 7.53% and a return on equity of 13.14%. PVH’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 EPS. As a group, equities analysts predict that PVH Corp. will post 11.26 earnings per share for the current fiscal year.

PVH Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.0375 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.15 annualized dividend and a dividend yield of 0.13%. PVH’s dividend payout ratio (DPR) is presently 1.33%.

PVH declared that its Board of Directors has approved a stock repurchase program on Monday, April 1st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the textile maker to buy up to 24% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, EVP James Holmes sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $108.39, for a total value of $325,170.00. Following the transaction, the executive vice president now directly owns 13,904 shares of the company’s stock, valued at approximately $1,507,054.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

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.