PVH (NYSE:PVH) Lifted to “Outperform” at Wedbush

Wedbush upgraded shares of PVH (NYSE:PVH) from a neutral rating to an outperform rating in a research report released on Monday morning, MarketBeat.com reports. Wedbush currently has $128.00 price objective on the textile maker’s stock, up from their previous price objective of $113.00.

Other equities analysts have also recently issued research reports about the stock. Telsey Advisory Group lowered their target price on shares of PVH from $155.00 to $140.00 and set an outperform rating on the stock in a research note on Tuesday, April 2nd. Wells Fargo & Company lowered their price objective on shares of PVH from $150.00 to $138.00 and set an overweight rating on the stock in a research note on Tuesday, April 2nd. Bank of America lowered their price objective on shares of PVH from $156.00 to $122.00 and set a buy rating on the stock in a research note on Wednesday, April 3rd. Morgan Stanley lowered their price objective on shares of PVH from $134.00 to $110.00 and set an equal weight rating on the stock in a research note on Wednesday, April 3rd. Finally, Citigroup lowered their price objective on shares of PVH from $139.00 to $120.00 and set a neutral rating on the stock in a research note on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $129.40.

PVH Stock Up 0.7 %

PVH stock opened at $106.33 on Monday. The stock has a market cap of $6.13 billion, a PE ratio of 9.80, a price-to-earnings-growth ratio of 1.01 and a beta of 2.20. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.31. The firm’s 50-day simple moving average is $128.16 and its 200 day simple moving average is $108.90. PVH has a fifty-two week low of $69.27 and a fifty-two week high of $141.15.

PVH (NYSE:PVH) last released its earnings results on Tuesday, April 2nd. The textile maker reported $3.72 EPS for the quarter, beating the consensus estimate of $3.51 by $0.21. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.42 billion. PVH had a net margin of 7.20% and a return on equity of 12.96%. PVH’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the company earned $2.38 EPS. As a group, sell-side analysts predict that PVH will post 10.9 EPS for the current year.

PVH Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Tuesday, March 5th. PVH’s dividend payout ratio is currently 1.38%.

PVH announced that its board has approved a stock repurchase program on Monday, April 1st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the textile maker to repurchase up to 24% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP James Holmes sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were 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 directly owns 13,904 shares in the company, valued at $1,507,054.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.78% of the stock is currently owned by corporate insiders.

Institutional Trading of PVH

Institutional investors have recently made changes to their positions in the stock. Citigroup Inc. boosted its holdings in shares of PVH by 13.1% during the third quarter. Citigroup Inc. now owns 18,020 shares of the textile maker’s stock worth $1,379,000 after purchasing an additional 2,092 shares during the period. UBS Group AG raised its position in PVH by 72.7% during the third quarter. UBS Group AG now owns 133,499 shares of the textile maker’s stock valued at $10,214,000 after acquiring an additional 56,193 shares in the last quarter. Teza Capital Management LLC raised its position in PVH by 167.5% during the third quarter. Teza Capital Management LLC now owns 11,629 shares of the textile maker’s stock valued at $890,000 after acquiring an additional 7,282 shares in the last quarter. QRG Capital Management Inc. bought a new position in PVH during the third quarter valued at approximately $367,000. Finally, Invesco Ltd. raised its position in PVH by 51.6% during the third quarter. Invesco Ltd. now owns 422,584 shares of the textile maker’s stock valued at $32,332,000 after acquiring an additional 143,832 shares in the last quarter. 97.25% of the stock is currently owned by institutional investors and hedge funds.

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.