PVH Corp. (PVH) Given “Buy” Rating at Piper Jaffray Companies
Piper Jaffray Companies reaffirmed their buy rating on shares of PVH Corp. (NYSE:PVH) in a research note published on Sunday morning. They currently have a $148.00 price objective on the textile maker’s stock.
A number of other analysts have also commented on the company. Zacks Investment Research raised PVH Corp. from a hold rating to a buy rating and set a $143.00 target price for the company in a report on Wednesday, September 20th. Barclays PLC assumed coverage on PVH Corp. in a report on Tuesday, September 19th. They issued an overweight rating and a $147.00 target price for the company. Sanford C. Bernstein assumed coverage on PVH Corp. in a report on Tuesday, September 12th. They issued a market perform rating and a $142.00 target price for the company. ValuEngine lowered PVH Corp. from a buy rating to a hold rating in a report on Friday, September 1st. Finally, Citigroup Inc. lifted their target price on PVH Corp. from $125.00 to $148.00 and gave the stock a neutral rating in a report on Friday, August 25th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $139.19.
PVH Corp. (NYSE PVH) opened at 127.29 on Friday. The firm has a 50-day moving average price of $126.00 and a 200 day moving average price of $112.10. The stock has a market cap of $9.86 billion, a PE ratio of 24.27 and a beta of 0.46. PVH Corp. has a 52-week low of $84.53 and a 52-week high of $130.75.
PVH Corp. (NYSE:PVH) last posted its earnings results on Wednesday, August 23rd. The textile maker reported $1.69 EPS for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.04. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.02 billion. PVH Corp. had a return on equity of 11.67% and a net margin of 4.96%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.47 EPS. On average, analysts forecast that PVH Corp. will post $7.71 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Thursday, August 24th were given a dividend of $0.038 per share. The ex-dividend date was Tuesday, August 22nd. This represents a $0.15 annualized dividend and a yield of 0.12%. PVH Corp.’s dividend payout ratio (DPR) is presently 2.87%.
In related news, EVP Mark D. Fischer sold 5,589 shares of PVH Corp. stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $128.47, for a total transaction of $718,018.83. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Francis K. Duane sold 24,000 shares of PVH Corp. stock in a transaction on Friday, August 25th. The shares were sold at an average price of $126.86, for a total value of $3,044,640.00. The disclosure for this sale can be found here. Insiders have sold 39,307 shares of company stock worth $4,980,787 over the last quarter. 1.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PVH. US Bancorp DE lifted its position in PVH Corp. by 3.5% during the first quarter. US Bancorp DE now owns 6,158 shares of the textile maker’s stock valued at $637,000 after purchasing an additional 211 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in PVH Corp. by 12.1% during the first quarter. UBS Asset Management Americas Inc. now owns 348,342 shares of the textile maker’s stock valued at $36,043,000 after purchasing an additional 37,666 shares in the last quarter. Sei Investments Co. lifted its position in PVH Corp. by 27.7% during the first quarter. Sei Investments Co. now owns 23,913 shares of the textile maker’s stock valued at $2,474,000 after purchasing an additional 5,194 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in PVH Corp. during the first quarter valued at $198,000. Finally, Mason Street Advisors LLC lifted its position in PVH Corp. by 1.0% during the first quarter. Mason Street Advisors LLC now owns 10,954 shares of the textile maker’s stock valued at $1,133,000 after purchasing an additional 111 shares in the last quarter. Institutional investors own 95.32% of the company’s stock.
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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