State of Michigan Retirement System Acquires 100 Shares of PVH Corp. (NYSE:PVH)

State of Michigan Retirement System grew its stake in PVH Corp. (NYSE:PVH) by 0.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 14,600 shares of the textile maker’s stock after acquiring an additional 100 shares during the period. State of Michigan Retirement System’s holdings in PVH were worth $2,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Fifth Third Wealth Advisors LLC acquired a new stake in shares of PVH during the first quarter worth $228,000. DGS Capital Management LLC acquired a new position in shares of PVH in the 1st quarter valued at approximately $225,000. Riverview Trust Co bought a new stake in PVH during the first quarter worth $36,000. Ballentine Partners LLC bought a new stake in shares of PVH during the 1st quarter worth $220,000. Finally, Mather Group LLC. bought a new position in shares of PVH in the first quarter worth about $91,000. 97.25% of the stock is currently owned by institutional investors and hedge funds.

PVH Stock Up 1.5 %

Shares of PVH stock opened at $104.67 on Friday. PVH Corp. has a 12-month low of $69.27 and a 12-month high of $141.15. The company has a current ratio of 1.55, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. The company’s fifty day simple moving average is $113.65 and its two-hundred day simple moving average is $120.21. The company has a market cap of $5.85 billion, a P/E ratio of 9.26, a PEG ratio of 0.81 and a beta of 2.14.

PVH (NYSE:PVH) last posted its quarterly earnings data 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 company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.93 billion. PVH had a return on equity of 13.14% and a net margin of 7.53%. The firm’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter last year, the company earned $2.14 EPS. Research analysts anticipate that PVH Corp. will post 11.24 EPS for the current year.

PVH announced that its Board of Directors has authorized a share repurchase plan on Monday, April 1st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the textile maker to reacquire up to 24% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

PVH Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th were issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.14%. The ex-dividend date was Wednesday, June 5th. PVH’s dividend payout ratio is currently 1.33%.

Insider Buying and Selling

In other news, EVP James Holmes sold 3,000 shares of PVH stock in a transaction dated Thursday, April 11th. The stock was 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 of the company’s stock, valued at $1,507,054.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PVH shares. Bank of America increased their price target on PVH from $122.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Telsey Advisory Group restated an “outperform” rating and issued a $140.00 price target on shares of PVH in a research report on Thursday, June 6th. Wedbush reissued an “outperform” rating and issued a $128.00 price objective on shares of PVH in a research note on Wednesday, June 5th. Citigroup cut their target price on shares of PVH from $139.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 3rd. Finally, Guggenheim increased their price target on PVH from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.81.

PVH Company 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.