PVH (NYSE:PVH) Price Target Cut to $149.00

PVH (NYSE:PVH) had its price objective trimmed by TD Cowen from $154.00 to $149.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the textile maker’s stock.

PVH has been the subject of a number of other reports. StockNews.com raised shares of PVH from a buy rating to a strong-buy rating in a report on Friday, July 12th. Bank of America upped their price target on shares of PVH from $122.00 to $144.00 and gave the company a buy rating in a report on Thursday, June 6th. Telsey Advisory Group reissued an outperform rating and issued a $140.00 price target on shares of PVH in a report on Thursday, June 6th. Jefferies Financial Group started coverage on shares of PVH in a report on Tuesday, April 30th. They issued a hold rating and a $115.00 price target for the company. Finally, Morgan Stanley upped their price target on shares of PVH from $110.00 to $120.00 and gave the company an equal weight rating in a report on Thursday, June 6th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $133.50.

PVH Stock Performance

PVH stock opened at $97.11 on Thursday. The company has a market capitalization of $5.42 billion, a P/E ratio of 8.60, a PEG ratio of 0.76 and a beta of 2.14. The company has a 50-day simple moving average of $110.75 and a 200 day simple moving average of $118.43. PVH has a fifty-two week low of $69.27 and a fifty-two week high of $141.15. The company has a quick ratio of 0.83, a current ratio of 1.55 and a debt-to-equity ratio of 0.42.

PVH (NYSE:PVH) last posted its quarterly earnings data on Tuesday, June 4th. The textile maker reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.31. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.93 billion. PVH had a net margin of 7.53% and a return on equity of 13.14%. The company’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.14 earnings per share. Sell-side analysts predict that PVH will post 11.23 earnings per share for the current fiscal year.

PVH Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th were issued a $0.0375 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.15%. PVH’s dividend payout ratio is 1.33%.

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

Hedge Funds Weigh In On PVH

A number of large investors have recently made changes to their positions in PVH. Principal Financial Group Inc. increased its holdings in shares of PVH by 234.1% in the 1st quarter. Principal Financial Group Inc. now owns 741,151 shares of the textile maker’s stock valued at $104,213,000 after purchasing an additional 519,316 shares during the period. Channing Capital Management LLC increased its holdings in PVH by 648.1% in the fourth quarter. Channing Capital Management LLC now owns 581,289 shares of the textile maker’s stock worth $70,987,000 after buying an additional 503,586 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in PVH in the fourth quarter worth approximately $45,911,000. Franklin Resources Inc. increased its holdings in PVH by 1,954.3% in the fourth quarter. Franklin Resources Inc. now owns 352,448 shares of the textile maker’s stock worth $43,041,000 after buying an additional 335,291 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in PVH by 711.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 341,506 shares of the textile maker’s stock worth $41,705,000 after buying an additional 299,418 shares during the last quarter. Institutional investors and hedge funds 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.