Legal & General Group Plc Trims Holdings in PVH Corp. $PVH

Legal & General Group Plc reduced its position in shares of PVH Corp. (NYSE:PVH) by 8.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,133 shares of the textile maker’s stock after selling 11,250 shares during the period. Legal & General Group Plc’s holdings in PVH were worth $8,721,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PVH. Cetera Investment Advisers boosted its position in PVH by 63.5% during the first quarter. Cetera Investment Advisers now owns 6,468 shares of the textile maker’s stock worth $418,000 after acquiring an additional 2,511 shares during the last quarter. Alberta Investment Management Corp raised its holdings in PVH by 41.5% in the 1st quarter. Alberta Investment Management Corp now owns 34,393 shares of the textile maker’s stock valued at $2,223,000 after acquiring an additional 10,093 shares during the last quarter. Jump Financial LLC purchased a new position in shares of PVH during the 1st quarter worth $6,346,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of PVH by 665.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 24,163 shares of the textile maker’s stock worth $1,562,000 after purchasing an additional 21,007 shares during the period. Finally, AIA Group Ltd boosted its holdings in shares of PVH by 261.8% during the first quarter. AIA Group Ltd now owns 13,454 shares of the textile maker’s stock worth $870,000 after purchasing an additional 9,735 shares during the last quarter. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

PVH Stock Up 0.5%

Shares of NYSE:PVH opened at $85.20 on Tuesday. The stock has a 50-day simple moving average of $81.22 and a 200-day simple moving average of $77.96. The stock has a market capitalization of $4.10 billion, a P/E ratio of 9.55, a PEG ratio of 2.54 and a beta of 1.89. PVH Corp. has a 1 year low of $59.28 and a 1 year high of $113.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.63 and a current ratio of 1.37.

PVH Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 26th will be paid a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, November 26th. PVH’s payout ratio is currently 1.68%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. The Goldman Sachs Group upped their target price on PVH from $81.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Barclays lifted their price target on PVH from $83.00 to $101.00 and gave the company an “overweight” rating in a report on Wednesday, August 27th. Bank of America upped their price objective on shares of PVH from $76.00 to $88.00 and gave the company a “neutral” rating in a research note on Wednesday, August 27th. Weiss Ratings reissued a “hold (c)” rating on shares of PVH in a research report on Wednesday, October 8th. Finally, UBS Group restated a “buy” rating and issued a $148.00 target price on shares of PVH in a report on Tuesday, November 25th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, PVH currently has an average rating of “Moderate Buy” and a consensus target price of $95.44.

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.