PVH (NYSE:PVH) Reaches New 12-Month Low on Analyst Downgrade

Shares of PVH Corp. (NYSE:PVH) reached a new 52-week low during trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $95.00 to $85.00. Wells Fargo & Company currently has an equal weight rating on the stock. PVH traded as low as $66.84 and last traded at $69.02, with a volume of 1066370 shares changing hands. The stock had previously closed at $69.87.

A number of other research firms have also commented on PVH. Morgan Stanley reduced their price objective on shares of PVH from $95.00 to $86.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 2nd. BMO Capital Markets reduced their price objective on shares of PVH from $106.00 to $93.00 and set a “market perform” rating for the company in a research note on Tuesday, April 1st. Evercore ISI reduced their price objective on shares of PVH from $139.00 to $105.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. Telsey Advisory Group reissued an “outperform” rating and issued a $90.00 price target on shares of PVH in a research report on Tuesday, April 1st. Finally, StockNews.com lowered shares of PVH from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.00.

Hedge Funds Weigh In On PVH

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in PVH by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 627,655 shares of the textile maker’s stock valued at $66,375,000 after purchasing an additional 4,645 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in PVH by 22.9% during the fourth quarter. Bank of New York Mellon Corp now owns 774,010 shares of the textile maker’s stock valued at $81,852,000 after purchasing an additional 144,260 shares during the last quarter. Clark Estates Inc. NY acquired a new position in PVH during the fourth quarter valued at approximately $2,855,000. Citizens Financial Group Inc. RI acquired a new position in PVH during the fourth quarter valued at approximately $466,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in PVH by 179,164.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 760,080 shares of the textile maker’s stock valued at $79,705,000 after purchasing an additional 759,656 shares during the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

PVH Stock Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.69. The firm has a fifty day simple moving average of $69.29 and a 200 day simple moving average of $88.28. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 5.62, a P/E/G ratio of 0.77 and a beta of 1.89.

PVH (NYSE:PVH) last announced its quarterly earnings data on Monday, March 31st. The textile maker reported $3.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.08. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.34 billion. PVH had a net margin of 8.13% and a return on equity of 13.66%. PVH’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the company posted $3.72 earnings per share. On average, sell-side analysts expect that PVH Corp. will post 11.67 earnings per share for the current fiscal year.

PVH Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.22%. PVH’s payout ratio is 1.42%.

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.