PVH Corp. (PVH) Given Buy Rating at Piper Jaffray Cos.
Piper Jaffray Cos. reiterated their buy rating on shares of PVH Corp. (NYSE:PVH) in a research note published on Monday morning. Piper Jaffray Cos. currently has a $124.00 price objective on the stock.
Other equities analysts also recently issued research reports about the company. Guggenheim started coverage on PVH Corp. in a report on Friday, September 30th. They set a buy rating and a $125.00 target price for the company. Wells Fargo & Co. started coverage on PVH Corp. in a report on Monday, September 12th. They set an outperform rating and a $126.00 target price for the company. They noted that the move was a valuation call. Morgan Stanley restated a hold rating and set a $100.00 target price on shares of PVH Corp. in a report on Thursday, August 25th. Brean Capital restated a buy rating and set a $124.00 target price (up previously from $122.00) on shares of PVH Corp. in a report on Monday, August 29th. Finally, Zacks Investment Research downgraded PVH Corp. from a buy rating to a hold rating in a report on Friday, September 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $112.83.
PVH Corp. (NYSE:PVH) opened at 108.07 on Monday. The company has a market capitalization of $8.67 billion, a PE ratio of 13.09 and a beta of 0.77. PVH Corp. has a 52 week low of $64.16 and a 52 week high of $115.40. The firm’s 50-day moving average price is $108.49 and its 200 day moving average price is $102.59.
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The company also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Wednesday, November 23rd will be issued a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.14%. The ex-dividend date is Monday, November 21st. PVH Corp.’s dividend payout ratio is presently 1.82%.
In other PVH Corp. news, EVP David F. Kozel sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $111.96, for a total transaction of $335,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Francis K. Duane sold 25,405 shares of the firm’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $112.00, for a total value of $2,845,360.00. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its position in PVH Corp. by 16.1% in the first quarter. Envestnet Asset Management Inc. now owns 12,710 shares of the company’s stock valued at $1,259,000 after buying an additional 1,761 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of PVH Corp. during the first quarter worth approximately $930,000. Squarepoint Ops LLC boosted its position in shares of PVH Corp. by 18.4% in the first quarter. Squarepoint Ops LLC now owns 12,935 shares of the company’s stock worth $1,281,000 after buying an additional 2,008 shares during the period. Exxonmobil Investment Management Inc. TX boosted its position in shares of PVH Corp. by 5.1% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 20,977 shares of the company’s stock worth $1,977,000 after buying an additional 1,025 shares during the period. Finally, FirstMerit Bank N A Trustee boosted its position in shares of PVH Corp. by 53.6% in the second quarter. FirstMerit Bank N A Trustee now owns 4,679 shares of the company’s stock worth $441,000 after buying an additional 1,633 shares during the period. Institutional investors and hedge funds own 94.59% of the company’s stock.
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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