Retirement Systems of Alabama Purchases 56,570 Shares of PVH Corp. (NYSE:PVH)

Retirement Systems of Alabama increased its position in shares of PVH Corp. (NYSE:PVH) by 53.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 163,378 shares of the textile maker’s stock after buying an additional 56,570 shares during the period. Retirement Systems of Alabama’s holdings in PVH were worth $19,952,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PVH. SG Americas Securities LLC boosted its stake in PVH by 26.9% during the third quarter. SG Americas Securities LLC now owns 2,304 shares of the textile maker’s stock worth $176,000 after buying an additional 488 shares in the last quarter. Asset Management One Co. Ltd. bought a new position in shares of PVH during the 3rd quarter worth about $901,000. Xponance Inc. boosted its position in shares of PVH by 5.7% during the 3rd quarter. Xponance Inc. now owns 8,131 shares of the textile maker’s stock valued at $622,000 after acquiring an additional 441 shares in the last quarter. Mackenzie Financial Corp increased its stake in PVH by 386.4% in the third quarter. Mackenzie Financial Corp now owns 31,869 shares of the textile maker’s stock valued at $2,278,000 after acquiring an additional 25,317 shares during the period. Finally, Strs Ohio raised its position in PVH by 9.6% in the third quarter. Strs Ohio now owns 19,906 shares of the textile maker’s stock worth $1,523,000 after purchasing an additional 1,740 shares in the last quarter. 97.25% of the stock is currently owned by institutional investors.

PVH Stock Performance

PVH stock opened at $112.90 on Tuesday. The company has a 50 day moving average price of $124.64 and a 200 day moving average price of $111.45. PVH Corp. has a fifty-two week low of $69.27 and a fifty-two week high of $141.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.18 and a quick ratio of 0.66. The stock has a market capitalization of $6.51 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 1.06 and a beta of 2.20.

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

PVH Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.0375 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.15 dividend on an annualized basis and a yield of 0.13%. PVH’s payout ratio is presently 1.38%.

PVH declared that its board has initiated a stock buyback program on Monday, April 1st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the textile maker to purchase up to 24% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Bank of America decreased their price objective on PVH from $156.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Morgan Stanley lowered their price target on PVH from $134.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their price objective on PVH from $146.00 to $157.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Jefferies Financial Group started coverage on shares of PVH in a report on Tuesday. They issued a “hold” rating and a $115.00 target price on the stock. Finally, Wedbush raised shares of PVH from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $113.00 to $128.00 in a report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.50.

Insider Activity

In other PVH news, EVP James Holmes sold 3,000 shares of PVH stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $108.39, for a total transaction of $325,170.00. Following the completion of the sale, the executive vice president now owns 13,904 shares of the company’s stock, 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 hyperlink. Insiders own 0.78% of the company’s stock.

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.