American International Group Inc. Sells 6,741 Shares of PVH Corp. (NYSE:PVH)

American International Group Inc. decreased its stake in PVH Corp. (NYSE:PVH) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,617 shares of the textile maker’s stock after selling 6,741 shares during the quarter. American International Group Inc. owned approximately 0.14% of PVH worth $9,967,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PVH. FMR LLC grew its position in shares of PVH by 15.9% during the third quarter. FMR LLC now owns 7,198,557 shares of the textile maker’s stock worth $550,762,000 after purchasing an additional 987,957 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in PVH by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,069,531 shares of the textile maker’s stock valued at $374,855,000 after buying an additional 115,731 shares during the last quarter. LSV Asset Management boosted its stake in PVH by 1.3% during the fourth quarter. LSV Asset Management now owns 809,930 shares of the textile maker’s stock valued at $98,909,000 after buying an additional 10,194 shares during the last quarter. 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 valued at $76,219,000 after buying an additional 138,952 shares during the last quarter. Finally, Channing Capital Management LLC boosted its stake in PVH by 648.1% during the fourth quarter. Channing Capital Management LLC now owns 581,289 shares of the textile maker’s stock valued at $70,987,000 after buying an additional 503,586 shares during the last quarter. Hedge funds and other institutional investors own 97.25% of the company’s stock.

Insider Transactions at PVH

In other news, EVP James Holmes sold 3,000 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was 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 directly owns 13,904 shares of the company’s stock, valued at approximately $1,507,054.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

PVH Trading Down 0.9 %

PVH opened at $113.36 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.55 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average is $113.53 and its two-hundred day moving average is $120.33. The company has a market capitalization of $6.33 billion, a P/E ratio of 10.03, a PEG ratio of 0.88 and a beta of 2.15. PVH Corp. has a 52 week low of $69.27 and a 52 week high of $141.15.

PVH (NYSE:PVH) last issued its earnings results on Tuesday, June 4th. The textile maker reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.31. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.93 billion. PVH had a return on equity of 13.14% and a net margin of 7.53%. PVH’s revenue was down 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.14 EPS. Analysts forecast that PVH Corp. will post 11.26 earnings per share for the current year.

PVH declared that its Board of Directors has authorized a stock buyback program on Monday, April 1st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the textile maker to purchase up to 24% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

PVH Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th will be given a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Wednesday, June 5th. PVH’s payout ratio is 1.33%.

Analyst Upgrades and Downgrades

PVH has been the subject of a number of research reports. Citigroup dropped their price target on PVH from $139.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, April 3rd. BMO Capital Markets increased their price target on PVH from $110.00 to $119.00 and gave the company a “market perform” rating in a research note on Wednesday, June 5th. UBS Group raised their price objective on PVH from $158.00 to $159.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Barclays raised their price objective on PVH from $149.00 to $154.00 and gave the company an “overweight” rating in a research note on Thursday, June 6th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of PVH in a research note on Thursday, June 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, PVH has an average rating of “Moderate Buy” and a consensus price target of $133.81.

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.