PVH Corp (NYSE:PVH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
According to Zacks, “PVH Corp. has outperformed the broader industry year to date. The company has been doing well on the back of superb earnings history and brand strength. The company's diversified portfolio allows it to stay ahead of its peers, generate above-average industry growth and sustain its position in the current challenging environment. PVH’s approach to brand management facilitates each of its brands to develop further through efficient marketing strategies, financial control and operating leverage. Further, focus on higher-margin businesses through buyouts and divestments bode well. These factors helped the company to post its 11th consecutive earnings beat and second sales beat in fourth-quarter fiscal 2016. However, management expects currency woes, along with a volatile retail scenario to remain deterrents in fiscal 2017. First quarter estimates have been stable lately ahead of the earnings release.”
PVH has been the subject of several other research reports. Credit Suisse Group AG set a $121.00 target price on shares of PVH Corp and gave the stock a “hold” rating in a research report on Monday, March 20th. Evercore ISI downgraded shares of PVH Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, February 1st. Wunderlich reissued a “buy” rating and issued a $125.00 target price on shares of PVH Corp in a research report on Saturday, March 25th. Citigroup Inc raised shares of PVH Corp from a “neutral” rating to a “buy” rating and set a $115.00 target price for the company in a research report on Friday, March 24th. Finally, Piper Jaffray Companies set a $112.00 target price on shares of PVH Corp and gave the stock a “buy” rating in a research report on Thursday, March 16th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. PVH Corp presently has a consensus rating of “Buy” and an average price target of $118.27.
Shares of PVH Corp (NYSE:PVH) traded up 1.10% during trading on Friday, hitting $100.18. The company’s stock had a trading volume of 839,600 shares. PVH Corp has a 52 week low of $83.80 and a 52 week high of $115.40. The firm’s 50 day moving average price is $101.29 and its 200-day moving average price is $97.82. The company has a market cap of $7.83 billion, a PE ratio of 14.75 and a beta of 0.67.
PVH Corp (NYSE:PVH) last released its earnings results on Wednesday, March 22nd. The textile maker reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.04. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.09 billion. PVH Corp had a net margin of 7.10% and a return on equity of 12.15%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.52 EPS. On average, analysts predict that PVH Corp will post $7.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Thursday, May 18th will be paid a $0.038 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend is Tuesday, May 16th. PVH Corp’s dividend payout ratio is currently 2.10%.
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In other news, EVP Mark D. Fischer sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 24th. The shares were sold at an average price of $101.72, for a total value of $101,720.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel Grieder sold 18,701 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $103.43, for a total transaction of $1,934,244.43. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Several hedge funds have recently modified their holdings of PVH. FNY Partners Fund LP raised its stake in shares of PVH Corp by 53.3% in the first quarter. FNY Partners Fund LP now owns 1,150 shares of the textile maker’s stock worth $118,000 after buying an additional 400 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of PVH Corp by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,334 shares of the textile maker’s stock worth $138,000 after buying an additional 116 shares in the last quarter. NINE MASTS CAPITAL Ltd bought a new stake in shares of PVH Corp during the first quarter worth $155,000. Financial Architects Inc raised its stake in shares of PVH Corp by 261.6% in the first quarter. Financial Architects Inc now owns 1,602 shares of the textile maker’s stock worth $166,000 after buying an additional 1,159 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of PVH Corp during the first quarter worth $198,000. 97.96% of the stock is owned by institutional investors.
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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