Louisiana State Employees Retirement System Purchases New Stake in PVH Corp. (NYSE:PVH)

Louisiana State Employees Retirement System purchased a new stake in PVH Corp. (NYSE:PVH) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 17,000 shares of the textile maker’s stock, valued at approximately $2,076,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PVH. International Assets Investment Management LLC acquired a new position in PVH during the third quarter worth about $25,000. Quarry LP raised its stake in PVH by 81.8% during the second quarter. Quarry LP now owns 320 shares of the textile maker’s stock worth $27,000 after acquiring an additional 144 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in PVH by 2,600.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 270 shares of the textile maker’s stock worth $33,000 after acquiring an additional 260 shares in the last quarter. Belpointe Asset Management LLC raised its stake in PVH by 39.8% during the first quarter. Belpointe Asset Management LLC now owns 492 shares of the textile maker’s stock worth $44,000 after acquiring an additional 140 shares in the last quarter. Finally, Covestor Ltd raised its stake in PVH by 69.3% during the first quarter. Covestor Ltd now owns 596 shares of the textile maker’s stock worth $46,000 after acquiring an additional 244 shares in the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

PVH Price Performance

PVH stock opened at $105.75 on Thursday. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 1.03 and a beta of 2.20. PVH Corp. has a 52-week low of $69.27 and a 52-week high of $141.15. The stock’s 50 day moving average price is $127.61 and its two-hundred day moving average price is $109.10. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 1.18.

PVH (NYSE:PVH) last posted its quarterly earnings results on Tuesday, April 2nd. The textile maker reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.21. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.42 billion. PVH had a return on equity of 12.96% and a net margin of 7.20%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.38 EPS. On average, equities analysts predict that PVH Corp. will post 10.93 earnings per share for the current year.

PVH declared that its Board of Directors has authorized a share repurchase program on Monday, April 1st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the textile maker to purchase up to 24% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

PVH Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Tuesday, March 5th. PVH’s payout ratio is 1.38%.

Insiders Place Their Bets

In other PVH news, EVP James Holmes sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $108.39, for a total transaction of $325,170.00. Following the transaction, the executive vice president now directly owns 13,904 shares in the company, valued at approximately $1,507,054.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group boosted their target price on PVH from $158.00 to $159.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Morgan Stanley reduced their price target on PVH from $134.00 to $110.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 3rd. Bank of America reduced their price target on PVH from $156.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Wedbush upgraded PVH from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $113.00 to $128.00 in a report on Monday. Finally, Citigroup reduced their price target on PVH from $139.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.40.

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.