New York Life Investment Management LLC Has $834,000 Holdings in PVH Corp. (NYSE:PVH)

New York Life Investment Management LLC cut its stake in PVH Corp. (NYSE:PVH) by 9.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,833 shares of the textile maker’s stock after selling 753 shares during the period. New York Life Investment Management LLC’s holdings in PVH were worth $834,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PVH. FMR LLC increased its stake in PVH by 15.9% during the third quarter. FMR LLC now owns 7,198,557 shares of the textile maker’s stock valued at $550,762,000 after acquiring an additional 987,957 shares during the period. Wedge Capital Management L L P NC acquired a new position in shares of PVH in the fourth quarter valued at $45,911,000. Invesco Ltd. lifted its position in PVH by 51.6% in the third quarter. Invesco Ltd. now owns 422,584 shares of the textile maker’s stock worth $32,332,000 after purchasing an additional 143,832 shares during the period. Victory Capital Management Inc. boosted its stake in PVH by 28.6% during the fourth quarter. Victory Capital Management Inc. now owns 624,132 shares of the textile maker’s stock worth $76,219,000 after buying an additional 138,952 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in PVH in the 4th quarter valued at $13,569,000. 97.25% of the stock is currently owned by institutional investors and hedge funds.

PVH Stock Performance

Shares of PVH stock opened at $113.94 on Thursday. The firm has a fifty day moving average of $121.50 and a two-hundred day moving average of $113.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 1.18. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.08 and a beta of 2.24. PVH Corp. has a 52 week low of $69.27 and a 52 week high of $141.15.

PVH (NYSE:PVH) last released its earnings results on Tuesday, April 2nd. The textile maker reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.21. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.42 billion. PVH had a return on equity of 12.96% and a net margin of 7.20%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.38 earnings per share. As a group, equities research analysts predict that PVH Corp. will post 10.92 EPS for the current year.

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

PVH Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th will be paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.13%. The ex-dividend date is Wednesday, June 5th. PVH’s payout ratio is presently 1.38%.

Insiders Place Their Bets

In other news, EVP James Holmes sold 3,000 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $108.39, for a total value of $325,170.00. Following the completion of the transaction, the executive vice president now 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 is available through this link. Company insiders own 0.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Guggenheim raised their price objective on shares of PVH from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Jefferies Financial Group assumed coverage on PVH in a report on Tuesday, April 30th. They set a “hold” rating and a $115.00 price objective on the stock. TD Cowen raised their target price on PVH from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Barclays lowered their price target on PVH from $157.00 to $149.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Finally, UBS Group lifted their price objective on PVH from $158.00 to $159.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, PVH has an average rating of “Moderate Buy” and an average target price of $128.50.

About PVH

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.