Texas Permanent School Fund Corp Reduces Holdings in PVH Corp. (NYSE:PVH)

Texas Permanent School Fund Corp trimmed its position in shares of PVH Corp. (NYSE:PVH) by 9.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 47,315 shares of the textile maker’s stock after selling 4,880 shares during the quarter. Texas Permanent School Fund Corp’s holdings in PVH were worth $5,009,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in PVH by 321.8% during the first quarter. BNP Paribas Financial Markets now owns 39,996 shares of the textile maker’s stock worth $5,624,000 after buying an additional 30,513 shares during the period. Allianz Asset Management GmbH boosted its stake in PVH by 36.2% during the fourth quarter. Allianz Asset Management GmbH now owns 209,381 shares of the textile maker’s stock worth $25,570,000 after buying an additional 55,601 shares during the period. Capstone Investment Advisors LLC boosted its stake in PVH by 115.5% during the first quarter. Capstone Investment Advisors LLC now owns 22,388 shares of the textile maker’s stock worth $3,148,000 after buying an additional 11,999 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in PVH during the first quarter worth $961,000. Finally, Quadrature Capital Ltd boosted its stake in PVH by 215.3% during the first quarter. Quadrature Capital Ltd now owns 23,397 shares of the textile maker’s stock worth $3,290,000 after buying an additional 15,976 shares during the period. 97.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PVH has been the subject of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $128.00 price objective on shares of PVH in a research note on Wednesday, June 5th. The Goldman Sachs Group decreased their target price on PVH from $144.00 to $124.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. TD Cowen decreased their target price on PVH from $149.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Evercore ISI lifted their target price on PVH from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, June 3rd. Finally, Morgan Stanley decreased their target price on PVH from $120.00 to $100.00 and set an “equal weight” rating for the company in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PVH currently has a consensus rating of “Moderate Buy” and an average price target of $130.40.

PVH Price Performance

PVH opened at $93.75 on Friday. The business’s 50-day moving average is $99.69 and its two-hundred day moving average is $112.11. PVH Corp. has a 1 year low of $69.27 and a 1 year high of $141.15. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.24 and a quick ratio of 0.66. The firm has a market capitalization of $5.24 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 0.73 and a beta of 2.12.

PVH (NYSE:PVH) last posted its earnings results on Tuesday, August 27th. The textile maker reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.72. PVH had a return on equity of 13.94% and a net margin of 8.37%. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the previous year, the firm earned $1.98 earnings per share. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Research analysts anticipate that PVH Corp. will post 11.59 earnings per share for the current fiscal year.

PVH Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be paid a $0.0375 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.15 annualized dividend and a yield of 0.16%. PVH’s dividend payout ratio (DPR) is presently 1.33%.

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.