Zacks Investment Research upgraded shares of PVH Corp. (NYSE:PVH) from a hold rating to a buy rating in a research note released on Wednesday morning. The brokerage currently has $143.00 target price on the textile maker’s stock.
According to Zacks, “PVH Corp. has outperformed the industry year to date driven by its superb earnings history and brand strength. The company posted better-than-expected earnings and sales results for second-quarter fiscal 2017. While sales marked its fourth consecutive beat, earnings retained its positive surprise trend for the 13th straight time. Results continued to gain from solid momentum at its Calvin Klein and Tommy Hilfiger brands, particularly in the international regions. Further, the company raised earnings outlook for fiscal 2017. However, concerns regarding the volatile macroeconomic and geopolitical environment remain. While currency rates improved in second quarter, currency headwinds are expected to hurt fiscal 2017 earnings by 20 cents per share. Apart from this, a volatile retail scenario and greater marketing costs may hurt performance. Nonetheless, the company’s efforts to keep pace with the evolving consumer trends bode well.”
Several other equities analysts have also recently commented on PVH. ValuEngine upgraded shares of PVH Corp. from a hold rating to a buy rating in a research report on Tuesday, June 27th. UBS AG restated a buy rating and issued a $128.00 target price (up from $120.00) on shares of PVH Corp. in a research report on Monday, June 26th. Piper Jaffray Companies set a $120.00 target price on shares of PVH Corp. and gave the company a buy rating in a research report on Thursday, May 25th. B. Riley restated a buy rating and issued a $128.00 target price on shares of PVH Corp. in a research report on Tuesday, May 30th. Finally, Citigroup Inc. boosted their target price on shares of PVH Corp. from $115.00 to $125.00 and gave the company a buy rating in a research report on Tuesday, May 30th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $138.35.
PVH Corp. (NYSE:PVH) last issued its quarterly earnings data on Wednesday, August 23rd. The textile maker reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.04. PVH Corp. had a net margin of 4.96% and a return on equity of 11.67%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the company earned $1.47 EPS. The business’s revenue was up 7.1% on a year-over-year basis.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Thursday, August 24th will be issued 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 of this dividend is Tuesday, August 22nd. PVH Corp.’s payout ratio is 2.87%.
In other PVH Corp. news, SVP Dana Perlman sold 769 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $114.77, for a total transaction of $88,258.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark D. Fischer sold 5,589 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $128.47, for a total transaction of $718,018.83. The disclosure for this sale can be found here. Insiders have sold a total of 86,250 shares of company stock worth $10,203,596 over the last three months. Insiders own 1.30% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in PVH Corp. by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 7,942,535 shares of the textile maker’s stock worth $821,815,000 after acquiring an additional 112,758 shares during the last quarter. BlackRock Inc. grew its holdings in PVH Corp. by 3,001.8% during the 1st quarter. BlackRock Inc. now owns 5,090,455 shares of the textile maker’s stock worth $526,711,000 after acquiring an additional 4,926,341 shares during the last quarter. State Street Corp grew its holdings in PVH Corp. by 1.7% during the 1st quarter. State Street Corp now owns 3,672,807 shares of the textile maker’s stock worth $380,025,000 after acquiring an additional 61,303 shares during the last quarter. FMR LLC grew its holdings in PVH Corp. by 5.5% during the 2nd quarter. FMR LLC now owns 3,587,739 shares of the textile maker’s stock worth $410,796,000 after acquiring an additional 187,588 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in PVH Corp. by 0.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,219,010 shares of the textile maker’s stock worth $368,576,000 after acquiring an additional 13,101 shares during the last quarter. 95.32% of the stock is currently owned by hedge funds and other institutional investors.
PVH Corp. Company Profile
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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