Bank of America Cuts PVH (NYSE:PVH) Price Target to $76.00

PVH (NYSE:PVH) had its target price decreased by Bank of America from $86.00 to $76.00 in a research note published on Friday morning,Benzinga reports. Bank of America currently has a neutral rating on the textile maker’s stock.

Several other equities research analysts have also weighed in on PVH. UBS Group reduced their target price on PVH from $150.00 to $146.00 and set a “buy” rating for the company in a report on Friday. Wall Street Zen upgraded shares of PVH from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. BMO Capital Markets decreased their price objective on shares of PVH from $93.00 to $84.00 and set a “market perform” rating for the company in a report on Thursday. JPMorgan Chase & Co. raised their target price on shares of PVH from $87.00 to $99.00 and gave the company a “neutral” rating in a research note on Monday, May 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $115.00 target price on shares of PVH in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.53.

PVH Stock Performance

Shares of PVH opened at $65.46 on Friday. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 5.33, a price-to-earnings-growth ratio of 0.77 and a beta of 1.89. The company’s fifty day moving average is $74.68 and its 200-day moving average is $84.35. The company has a quick ratio of 0.69, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. PVH has a 12 month low of $59.28 and a 12 month high of $120.93.

PVH (NYSE:PVH) last issued its quarterly earnings data on Wednesday, June 4th. The textile maker reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.06. PVH had a net margin of 8.13% and a return on equity of 13.66%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the prior year, the company posted $2.45 earnings per share. PVH’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities analysts expect that PVH will post 11.67 EPS for the current fiscal year.

PVH Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be given a $0.0375 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.23%. PVH’s dividend payout ratio is currently 1.42%.

Institutional Trading of PVH

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC lifted its position in PVH by 71.3% in the third quarter. Barclays PLC now owns 60,495 shares of the textile maker’s stock worth $6,097,000 after purchasing an additional 25,174 shares during the period. Empowered Funds LLC lifted its holdings in shares of PVH by 947.1% during the 4th quarter. Empowered Funds LLC now owns 79,163 shares of the textile maker’s stock worth $8,371,000 after acquiring an additional 71,603 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of PVH by 179,164.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 760,080 shares of the textile maker’s stock worth $79,705,000 after acquiring an additional 759,656 shares during the period. Stanley Laman Group Ltd. acquired a new stake in shares of PVH during the 4th quarter valued at about $2,330,000. Finally, Vontobel Holding Ltd. increased its stake in PVH by 76.6% in the fourth quarter. Vontobel Holding Ltd. now owns 4,341 shares of the textile maker’s stock valued at $459,000 after acquiring an additional 1,883 shares during the period. 97.25% of the stock is currently owned by institutional investors.

PVH Company Profile

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, and Heritage Brands Wholesale segments. It designs and markets men's, women's, and children's branded apparel, footwear and accessories, underwear, sleepwear, outerwear, home furnishings, luggage, dresses, suits and swimwear, activewear, sportswear, socks and accessories, outerwear, golf products, footwear, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, jeans wear, performance apparel, intimate apparel, dress shirts, handbags, fragrance, small leather goods, and other related products; and men's and boy's tailored clothing products, duvets, pillows, mattress pads and toppers, and feather beds.