ValuEngine upgraded shares of PVH Corp. (NYSE:PVH) from a hold rating to a buy rating in a report published on Tuesday, June 27th.
Other equities analysts have also recently issued reports about the company. Credit Suisse Group cut their price target on PVH Corp. to $114.00 in a report on Thursday, March 23rd. Wunderlich restated a buy rating and set a $125.00 price target on shares of PVH Corp. in a report on Saturday, March 25th. Citigroup Inc. upgraded PVH Corp. from a neutral rating to a buy rating and set a $115.00 price target on the stock in a report on Friday, March 24th. Cowen and Company upped their target price on PVH Corp. from $108.00 to $118.00 and gave the stock a buy rating in a research report on Thursday, March 23rd. Finally, UBS AG upped their target price on PVH Corp. from $112.00 to $116.00 and gave the stock a buy rating in a research report on Thursday, March 23rd. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. PVH Corp. currently has an average rating of Buy and a consensus price target of $123.06.
Shares of PVH Corp. (PVH) opened at 113.61 on Tuesday. The firm has a market capitalization of $8.84 billion, a P/E ratio of 23.49 and a beta of 0.50. The company has a 50 day moving average of $105.06 and a 200-day moving average of $97.56. PVH Corp. has a 12 month low of $84.53 and a 12 month high of $115.86.
PVH Corp. (NYSE:PVH) last announced its earnings results on Wednesday, May 24th. The textile maker reported $1.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.05. PVH Corp. had a return on equity of 11.57% and a net margin of 4.69%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the business posted $1.50 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. Analysts predict that PVH Corp. will post $7.51 EPS for the current year.
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The company also recently declared a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Thursday, May 18th were paid a dividend of $0.038 per share. The ex-dividend date was Tuesday, May 16th. This represents a $0.15 annualized dividend and a dividend yield of 0.13%. PVH Corp.’s payout ratio is 3.11%.
PVH Corp. declared that its board has authorized a stock repurchase program on Wednesday, March 22nd that permits the company to buyback $750.00 million in shares. This buyback authorization permits the textile maker to reacquire up to 10.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In other PVH Corp. news, SVP Dana Perlman sold 769 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $114.77, for a total value of $88,258.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael A. Shaffer sold 45,525 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $111.37, for a total value of $5,070,119.25. The disclosure for this sale can be found here. Insiders have sold a total of 59,627 shares of company stock valued at $6,584,743 in the last quarter. 1.50% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of PVH. Vaughan Nelson Investment Management L.P. increased its position in shares of PVH Corp. by 12.8% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 388,975 shares of the textile maker’s stock valued at $44,538,000 after buying an additional 44,225 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of PVH Corp. by 20.1% in the second quarter. Oregon Public Employees Retirement Fund now owns 31,702 shares of the textile maker’s stock valued at $3,630,000 after buying an additional 5,300 shares in the last quarter. Cascade Investment Advisors Inc. increased its position in shares of PVH Corp. by 6.0% in the second quarter. Cascade Investment Advisors Inc. now owns 4,135 shares of the textile maker’s stock valued at $473,000 after buying an additional 235 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of PVH Corp. by 492.0% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 12,869 shares of the textile maker’s stock valued at $1,474,000 after buying an additional 10,695 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of PVH Corp. by 4.8% in the second quarter. Bank of Montreal Can now owns 59,093 shares of the textile maker’s stock valued at $6,766,000 after buying an additional 2,708 shares in the last quarter. Institutional investors and hedge funds own 96.44% of the company’s stock.
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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