State of New Jersey Common Pension Fund D Lowers Position in PVH Corp. (NYSE:PVH)

State of New Jersey Common Pension Fund D decreased its position in shares of PVH Corp. (NYSE:PVH) by 32.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 21,700 shares of the textile maker’s stock after selling 10,388 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PVH were worth $2,297,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PVH. BNP Paribas Financial Markets lifted its stake in shares of PVH by 321.8% in 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 in the last quarter. Allianz Asset Management GmbH lifted its position in PVH by 36.2% during the fourth quarter. Allianz Asset Management GmbH now owns 209,381 shares of the textile maker’s stock valued at $25,570,000 after purchasing an additional 55,601 shares during the period. Capstone Investment Advisors LLC grew its position in PVH by 115.5% in the 1st quarter. Capstone Investment Advisors LLC now owns 22,388 shares of the textile maker’s stock worth $3,148,000 after purchasing an additional 11,999 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in PVH during the 1st quarter valued at $961,000. Finally, Quadrature Capital Ltd lifted its holdings in shares of PVH by 215.3% during the 1st quarter. Quadrature Capital Ltd now owns 23,397 shares of the textile maker’s stock valued at $3,290,000 after buying an additional 15,976 shares during the period. Institutional investors own 97.25% of the company’s stock.

PVH Stock Up 1.3 %

Shares of NYSE PVH opened at $97.55 on Friday. PVH Corp. has a 1 year low of $69.27 and a 1 year high of $141.15. The firm has a 50-day simple moving average of $98.88 and a two-hundred day simple moving average of $110.79. The company has a market cap of $5.44 billion, a P/E ratio of 8.56, a PEG ratio of 0.72 and a beta of 2.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.24 and a quick ratio of 0.66.

PVH (NYSE:PVH) last released its earnings results on Tuesday, August 27th. The textile maker reported $3.01 earnings per share for the quarter, topping 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 business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the company earned $1.98 earnings per share. The business’s revenue for the quarter 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 year.

PVH Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on PVH shares. Barclays reduced their price target on shares of PVH from $154.00 to $142.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. Morgan Stanley decreased their target price on PVH from $120.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, September 6th. Bank of America cut their price objective on PVH from $133.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Evercore ISI raised their target price on shares of PVH from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, June 3rd. Finally, StockNews.com cut shares of PVH from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $130.40.

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.