Jefferies Financial Group Initiates Coverage on PVH (NYSE:PVH)

Jefferies Financial Group started coverage on shares of PVH (NYSE:PVH) in a research report sent to investors on Tuesday, MarketBeat reports. The firm issued a hold rating and a $115.00 price target on the textile maker’s stock.

Other equities analysts also recently issued research reports about the stock. Bank of America cut their price target 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. Telsey Advisory Group reduced their target price on PVH from $155.00 to $140.00 and set an outperform rating on the stock in a report on Tuesday, April 2nd. Wedbush upgraded PVH from a neutral rating to an outperform rating and upped their price target for the stock from $113.00 to $128.00 in a research note on Monday, April 15th. Wells Fargo & Company cut their price objective on PVH from $150.00 to $138.00 and set an overweight rating on the stock in a report on Tuesday, April 2nd. Finally, TD Cowen boosted their target price on PVH from $150.00 to $160.00 and gave the stock an outperform rating in a report on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, PVH presently has a consensus rating of Moderate Buy and an average target price of $128.50.

PVH Stock Performance

NYSE:PVH opened at $113.22 on Tuesday. PVH has a 1-year low of $69.27 and a 1-year high of $141.15. The firm has a 50 day simple moving average of $123.32 and a 200-day simple moving average of $111.70. The firm has a market cap of $6.53 billion, a PE ratio of 10.44, a P/E/G ratio of 1.05 and a beta of 2.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.18 and a quick ratio of 0.66.

PVH (NYSE:PVH) last issued its quarterly earnings results on Tuesday, April 2nd. The textile maker reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.21. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.42 billion. PVH had a return on equity of 12.96% and a net margin of 7.20%. PVH’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.38 EPS. On average, equities analysts expect that PVH will post 10.92 EPS for the current year.

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

PVH Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th will be issued a $0.0375 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $0.15 dividend on an annualized basis and a yield of 0.13%. PVH’s dividend payout ratio is currently 1.38%.

Insider Transactions at PVH

In related news, EVP James Holmes sold 3,000 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $108.39, for a total value of $325,170.00. Following the completion of the transaction, the executive vice president now owns 13,904 shares of the company’s stock, valued at $1,507,054.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.78% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in PVH by 2,600.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 270 shares of the textile maker’s stock valued at $33,000 after buying an additional 260 shares in the last quarter. Global Retirement Partners LLC increased its position in PVH by 93.5% in the first quarter. Global Retirement Partners LLC now owns 238 shares of the textile maker’s stock worth $33,000 after buying an additional 115 shares during the period. Riverview Trust Co bought a new stake in PVH in the first quarter valued at $36,000. GAMMA Investing LLC acquired a new position in shares of PVH during the fourth quarter valued at $38,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of PVH during the first quarter worth about $42,000. 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.