New Mexico Educational Retirement Board Purchases 1,100 Shares of PVH Corp. (NYSE:PVH)

Posted by Defense World Staff on Oct 1st, 2023

PVH logo New Mexico Educational Retirement Board increased its position in PVH Corp. (NYSE:PVH – Free Report) by 9.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,900 shares of the textile maker’s stock after acquiring an additional 1,100 shares during the period. New Mexico Educational Retirement Board’s holdings in PVH were worth $1,096,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FMR LLC grew its holdings in PVH by 29.4% during the first quarter. FMR LLC now owns 5,343,554 shares of the textile maker’s stock valued at $476,431,000 after purchasing an additional 1,213,058 shares during the period. Anomaly Capital Management LP bought a new stake in PVH during the fourth quarter valued at about $47,561,000. Norges Bank bought a new stake in PVH during the fourth quarter valued at about $32,359,000. Dimensional Fund Advisors LP grew its holdings in PVH by 30.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,901,572 shares of the textile maker’s stock valued at $169,536,000 after purchasing an additional 446,923 shares during the period. Finally, Balyasny Asset Management LLC bought a new stake in PVH during the third quarter valued at about $14,439,000. Institutional investors own 97.25% of the company’s stock.

PVH Price Performance

NYSE:PVH opened at $76.51 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.52 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $4.62 billion, a P/E ratio of 26.02, a P/E/G ratio of 0.55 and a beta of 2.09. PVH Corp. has a 12 month low of $43.49 and a 12 month high of $94.51. The business’s 50-day moving average is $81.45 and its 200 day moving average is $83.06.

PVH (NYSE:PVH – Get Free Report) last issued its quarterly earnings data on Wednesday, August 30th. The textile maker reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.23. PVH had a return on equity of 11.63% and a net margin of 1.99%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the prior year, the business posted $2.08 earnings per share. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that PVH Corp. will post 10.33 earnings per share for the current fiscal year.

PVH Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 6th were given a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, September 5th. This represents a $0.15 dividend on an annualized basis and a yield of 0.20%. PVH’s dividend payout ratio (DPR) is presently 5.10%.

Analysts Set New Price Targets

PVH has been the subject of several recent research reports. Guggenheim reissued a “buy” rating and set a $110.00 price target on shares of PVH in a report on Wednesday, August 30th. UBS Group boosted their price objective on PVH from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, August 31st. Piper Sandler boosted their price objective on PVH from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, August 31st. TheStreet downgraded PVH from a “b-” rating to a “c+” rating in a research report on Thursday, July 27th. Finally, StockNews.com upgraded PVH from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, PVH has an average rating of “Moderate Buy” and a consensus price target of $93.83.

View Our Latest Stock Analysis on PVH

About PVH

(Free Report)

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's, women's, and children's apparel and accessories, include branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, swimwear, swim-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage products, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, home bed and bath furnishings, small leather goods, and other products.