PVH (NYSE:PVH) Rating Lowered to Buy at StockNews.com

StockNews.com downgraded shares of PVH (NYSE:PVH) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday morning.

A number of other equities analysts have also issued reports on PVH. BMO Capital Markets increased their price objective on PVH from $110.00 to $119.00 and gave the stock a market perform rating in a report on Wednesday, June 5th. Barclays increased their price objective on PVH from $149.00 to $154.00 and gave the stock an overweight rating in a report on Thursday, June 6th. Bank of America increased their price target on PVH from $122.00 to $144.00 and gave the company a buy rating in a research note on Thursday, June 6th. Morgan Stanley increased their price target on PVH from $110.00 to $120.00 and gave the company an equal weight rating in a research note on Thursday, June 6th. Finally, Jefferies Financial Group began coverage on PVH in a research note on Tuesday, April 30th. They set a hold rating and a $115.00 price target for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $133.81.

PVH Stock Up 1.5 %

NYSE:PVH opened at $104.67 on Thursday. The firm has a market capitalization of $5.85 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 0.80 and a beta of 2.14. The stock has a 50 day moving average of $113.65 and a 200-day moving average of $120.21. PVH has a 52 week low of $69.27 and a 52 week high of $141.15. The company has a current ratio of 1.55, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42.

PVH (NYSE:PVH) last issued its quarterly earnings data on Tuesday, June 4th. The textile maker reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.31. PVH had a return on equity of 13.14% and a net margin of 7.53%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period in the prior year, the company posted $2.14 EPS. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. Analysts predict that PVH will post 11.24 EPS for the current year.

PVH announced that its Board of Directors has approved a share repurchase plan on Monday, April 1st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the textile maker to reacquire up to 24% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

PVH Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th were given a dividend of $0.0375 per share. The ex-dividend date was Wednesday, June 5th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. PVH’s dividend payout ratio (DPR) is presently 1.33%.

Insider Activity

In other news, EVP James Holmes sold 3,000 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $108.39, for a total transaction of $325,170.00. Following the completion of the sale, the executive vice president now owns 13,904 shares in the company, valued at approximately $1,507,054.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Trading of PVH

A number of hedge funds have recently modified their holdings of PVH. New Covenant Trust Company N.A. purchased a new stake in shares of PVH in the first quarter valued at $26,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of PVH by 2,600.0% in 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 in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of PVH by 93.5% in the first quarter. Global Retirement Partners LLC now owns 238 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 115 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of PVH in the first quarter valued at $36,000. Finally, Headlands Technologies LLC purchased a new stake in shares of PVH during the first quarter worth $36,000. Hedge funds and other institutional investors own 97.25% of the company’s stock.

About PVH

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.