BidaskClub downgraded shares of PVH Corp. (NYSE:PVH) from a strong-buy rating to a buy rating in a research note released on Wednesday.
Several other equities research analysts also recently commented on the company. J P Morgan Chase & Co raised PVH Corp. from a neutral rating to an overweight rating and upped their target price for the company from $116.00 to $125.00 in a report on Thursday, May 25th. Credit Suisse Group raised PVH Corp. from a neutral rating to an outperform rating and upped their target price for the company from $114.00 to $136.00 in a report on Tuesday, May 30th. Zacks Investment Research downgraded PVH Corp. from a buy rating to a hold rating in a report on Wednesday, June 21st. Piper Jaffray Companies set a $120.00 target price on PVH Corp. and gave the company a buy rating in a report on Wednesday, June 14th. Finally, ValuEngine downgraded PVH Corp. from a buy rating to a hold rating in a report on Saturday, June 3rd. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $135.29.
Shares of PVH Corp. (PVH) opened at 125.90 on Wednesday. The company has a 50-day moving average of $119.13 and a 200 day moving average of $104.92. PVH Corp. has a one year low of $84.53 and a one year high of $130.25. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 24.01 and a beta of 0.51. PVH Corp. also was the target of some unusual options trading on Wednesday. Investors bought 13,612 put options on the stock. This is an increase of 1,016% compared to the typical volume of 1,220 put options.
PVH Corp. (NYSE:PVH) last announced its earnings results on Wednesday, August 23rd. The textile maker reported $1.69 EPS for the quarter, beating the consensus estimate of $1.65 by $0.04. PVH Corp. had a return on equity of 11.67% and a net margin of 4.96%. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the prior year, the business posted $1.47 earnings per share. PVH Corp.’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that PVH Corp. will post $7.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Thursday, August 24th will be given a $0.038 dividend. This represents a $0.15 annualized dividend and a yield of 0.12%. The ex-dividend date is Tuesday, August 22nd. PVH Corp.’s payout ratio is currently 2.87%.
In other PVH Corp. news, EVP David F. Kozel sold 5,636 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $105.00, for a total value of $591,780.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steven B. Shiffman sold 2,200 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $105.82, for a total value of $232,804.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,130 shares of company stock worth $6,320,086. Insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of PVH. Advisors Asset Management Inc. raised its position in shares of PVH Corp. by 28.2% in the second quarter. Advisors Asset Management Inc. now owns 927 shares of the textile maker’s stock valued at $106,000 after buying an additional 204 shares during the last quarter. FNY Partners Fund LP raised its position in shares of PVH Corp. by 53.3% in the first quarter. FNY Partners Fund LP now owns 1,150 shares of the textile maker’s stock valued at $118,000 after buying an additional 400 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of PVH Corp. by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,334 shares of the textile maker’s stock valued at $138,000 after buying an additional 116 shares during the last quarter. Fiduciary Trust Co. purchased a new position in shares of PVH Corp. during the second quarter valued at $138,000. Finally, NINE MASTS CAPITAL Ltd purchased a new position in shares of PVH Corp. during the first quarter valued at $155,000. 98.12% of the stock is currently owned by institutional investors.
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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