UBS AG reissued their buy rating on shares of PVH Corp. (NYSE:PVH) in a report issued on Thursday. They currently have a $140.00 price objective on the textile maker’s stock, up from their prior price objective of $128.00.
A number of other equities analysts have also recently issued reports on the company. Piper Jaffray Companies set a $148.00 price objective on PVH Corp. and gave the stock an overweight rating in a report on Wednesday. Zacks Investment Research cut PVH Corp. from a buy rating to a hold rating in a report on Wednesday. BidaskClub cut PVH Corp. from a strong-buy rating to a buy rating in a report on Wednesday. FBR & Co set a $135.00 price objective on PVH Corp. and gave the stock a buy rating in a report on Monday. Finally, Credit Suisse Group set a $136.00 price objective on PVH Corp. and gave the stock a buy rating in a report on Friday, August 18th. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. PVH Corp. has an average rating of Buy and a consensus price target of $132.00.
PVH Corp. (NYSE PVH) traded down 0.44% on Thursday, hitting $126.36. The company had a trading volume of 1,084,598 shares. The firm has a market capitalization of $9.88 billion, a PE ratio of 24.10 and a beta of 0.51. The firm has a 50-day moving average price of $118.71 and a 200-day moving average price of $104.65. PVH Corp. has a 12-month low of $84.53 and a 12-month high of $130.25. PVH Corp. also was the recipient of unusually large options trading on Wednesday. Traders purchased 13,612 put options on the company. This represents an increase of 1,016% compared to the typical volume of 1,220 put options.
PVH Corp. (NYSE:PVH) last posted its quarterly earnings data on Wednesday, August 23rd. The textile maker reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.04. PVH Corp. had a return on equity of 11.83% and a net margin of 4.96%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the business earned $1.47 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts anticipate that PVH Corp. will post $7.66 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Thursday, August 24th will be given a dividend of $0.038 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Tuesday, August 22nd. PVH Corp.’s payout ratio is 2.87%.
In other PVH Corp. news, COO Michael A. Shaffer sold 45,525 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $111.37, for a total transaction of $5,070,119.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark D. Fischer sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $115.00, for a total value of $172,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 57,130 shares of company stock valued at $6,320,086 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PVH. Vanguard Group Inc. raised its position in PVH Corp. by 1.4% in the first quarter. Vanguard Group Inc. now owns 7,942,535 shares of the textile maker’s stock worth $821,815,000 after buying an additional 112,758 shares during the last quarter. BlackRock Inc. raised its position in PVH Corp. by 3,001.8% in the first quarter. BlackRock Inc. now owns 5,090,455 shares of the textile maker’s stock worth $526,711,000 after buying an additional 4,926,341 shares during the last quarter. State Street Corp raised its position in PVH Corp. by 1.7% in the first quarter. State Street Corp now owns 3,672,807 shares of the textile maker’s stock worth $380,025,000 after buying an additional 61,303 shares during the last quarter. FMR LLC raised its position in PVH Corp. by 5.5% in the second quarter. FMR LLC now owns 3,587,739 shares of the textile maker’s stock worth $410,796,000 after buying an additional 187,588 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in PVH Corp. by 0.4% in the second quarter. JPMorgan Chase & Co. now owns 3,219,010 shares of the textile maker’s stock worth $368,576,000 after buying an additional 13,101 shares during the last quarter. 98.12% of the stock is owned by institutional investors and hedge funds.
About PVH Corp.
PVH Corp. is an apparel company. The Company operates through three segments: Calvin Klein, which consists of the Calvin Klein North America and Calvin Klein International segments; Tommy Hilfiger, which consists of the Tommy Hilfiger North America and Tommy Hilfiger International segments, and Heritage Brands, which consists of the Heritage Brands Wholesale and Heritage Brands Retail segments.
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