Piper Jaffray Cos. Analysts Give PVH Corp. (PVH) a $124.00 Price Target
PVH Corp. (NYSE:PVH) has been given a $124.00 price target by stock analysts at Piper Jaffray Cos. in a research note issued on Friday. The brokerage currently has a a “buy” rating on the stock. Piper Jaffray Cos.’s price target would indicate a potential upside of 10.80% from the stock’s previous close.
Several other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of PVH Corp. from a “buy” rating to a “hold” rating in a report on Friday, September 9th. Guggenheim initiated coverage on shares of PVH Corp. in a report on Friday, September 30th. They set a “buy” rating and a $125.00 price objective on the stock. TheStreet raised shares of PVH Corp. from a “hold” rating to a “buy” rating in a report on Thursday, June 23rd. Brean Capital reaffirmed a “buy” rating and set a $124.00 price objective (up from $122.00) on shares of PVH Corp. in a report on Monday, August 29th. Finally, Citigroup Inc. dropped their price objective on shares of PVH Corp. from $110.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, August 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. PVH Corp. presently has a consensus rating of “Buy” and an average target price of $113.79.
PVH Corp. (NYSE:PVH) traded up 2.02% during trading on Friday, reaching $114.17. 834,946 shares of the company’s stock traded hands. The company’s 50 day moving average is $108.38 and its 200-day moving average is $98.80. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 13.82 and a beta of 1.07. PVH Corp. has a 52-week low of $64.16 and a 52-week high of $114.42.
PVH Corp. (NYSE:PVH) last issued its quarterly earnings results on Wednesday, August 24th. The company reported $1.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.18. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.94 billion. PVH Corp. had a net margin of 8.34% and a return on equity of 12.55%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.37 EPS. On average, analysts anticipate that PVH Corp. will post $6.66 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 24th were paid a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Monday, August 22nd. PVH Corp.’s dividend payout ratio (DPR) is presently 1.82%.
In other news, Director Mary Baglivo sold 2,280 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $110.26, for a total transaction of $251,392.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark D. Fischer sold 1,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $112.50, for a total value of $112,500.00. Following the sale, the executive vice president now directly owns 16,732 shares of the company’s stock, valued at approximately $1,882,350. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in PVH Corp. by 23.6% in the first quarter. Geode Capital Management LLC now owns 812,690 shares of the company’s stock worth $80,371,000 after buying an additional 155,223 shares during the period. Legal & General Group Plc raised its stake in PVH Corp. by 2.8% in the first quarter. Legal & General Group Plc now owns 337,664 shares of the company’s stock worth $33,451,000 after buying an additional 9,210 shares during the period. Independent Portfolio Consultants Inc. raised its stake in PVH Corp. by 35.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 4,240 shares of the company’s stock worth $400,000 after buying an additional 1,105 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in PVH Corp. during the first quarter worth $468,000. Finally, BlackRock Japan Co. Ltd raised its stake in PVH Corp. by 1.7% in the first quarter. BlackRock Japan Co. Ltd now owns 105,185 shares of the company’s stock worth $10,420,000 after buying an additional 1,749 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.
About PVH Corp.
PVH Corp. is an apparel company. The Company’s segments include Calvin Klein North America; Calvin Klein International; Tommy Hilfiger North America; Tommy Hilfiger International; Heritage Brands Wholesale, and Heritage Brands Retail. The Company’s brand portfolio consists of various brand names, including Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Warner’s, Olga and Eagle, which are owned, and Speedo, Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, Sean John, MICHAEL Michael Kors, Michael Kors Collection and Chaps, which are licensed, as well as various other licensed and private label brands.
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