PVH Corp. (NYSE:PVH – Get Free Report) gapped down prior to trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $165.00 to $146.00. The stock had previously closed at $139.73, but opened at $111.50. JPMorgan Chase & Co. currently has an overweight rating on the stock. PVH shares last traded at $106.10, with a volume of 1,099,995 shares trading hands.
Other analysts also recently issued research reports about the stock. UBS Group boosted their price objective on shares of PVH from $125.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, December 4th. StockNews.com upgraded shares of PVH from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. The Goldman Sachs Group upgraded shares of PVH from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $99.00 to $126.00 in a research report on Tuesday, December 12th. TD Cowen boosted their price objective on shares of PVH from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Finally, Wells Fargo & Company cut their target price on shares of PVH from $150.00 to $138.00 and set an “overweight” rating on the stock in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.86.
Insider Activity
In other news, EVP Mark D. Fischer sold 3,500 shares of the stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $123.00, for a total transaction of $430,500.00. Following the completion of the transaction, the executive vice president now directly owns 27,903 shares in the company, valued at approximately $3,432,069. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.78% of the company’s stock.
Institutional Investors Weigh In On PVH
A number of hedge funds have recently added to or reduced their stakes in PVH. International Assets Investment Management LLC acquired a new position in shares of PVH during the third quarter valued at $25,000. Quarry LP increased its holdings in shares of PVH by 81.8% during the second quarter. Quarry LP now owns 320 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 144 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of PVH by 2,600.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 270 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 260 shares during the period. GAMMA Investing LLC acquired a new position in shares of PVH during the fourth quarter valued at $38,000. Finally, Belpointe Asset Management LLC increased its holdings in shares of PVH by 39.8% during the first quarter. Belpointe Asset Management LLC now owns 492 shares of the textile maker’s stock valued at $44,000 after purchasing an additional 140 shares during the period. 97.25% of the stock is currently owned by institutional investors.
PVH Price Performance
The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 0.75 and a beta of 2.20. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.18 and a quick ratio of 0.66. The business has a fifty day moving average price of $130.88 and a 200 day moving average price of $106.66.
PVH (NYSE:PVH – Get Free Report) last issued its quarterly earnings results on Monday, April 1st. The textile maker reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.21. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.42 billion. PVH had a return on equity of 11.63% and a net margin of 5.76%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the company earned $2.38 earnings per share. On average, research analysts expect that PVH Corp. will post 10.48 earnings per share for the current fiscal year.
PVH Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date was Tuesday, March 5th. PVH’s payout ratio is currently 1.77%.
PVH declared that its board has initiated a share repurchase program on Monday, April 1st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the textile maker to repurchase up to 24% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
About PVH
PVH Corp. operates as an apparel company in the United States and internationally. The company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men’s, women’s, and children’s apparel and accessories, include branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, swimwear, swim-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage products, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, home bed and bath furnishings, small leather goods, and other products.