PVH Corp. (NYSE:PVH) Coverage Initiated at FBR & Co
FBR & Co assumed coverage on shares of PVH Corp. (NYSE:PVH) in a research note released on Tuesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $135.00 target price on the textile maker’s stock.
A number of other brokerages also recently weighed in on PVH. UBS AG boosted their price target on PVH Corp. from $112.00 to $116.00 and gave the company a buy rating in a report on Thursday, March 23rd. B. Riley reiterated a buy rating and issued a $125.00 price target on shares of PVH Corp. in a report on Sunday, April 9th. Piper Jaffray Companies set a $120.00 price target on PVH Corp. and gave the company a buy rating in a report on Thursday, May 25th. Zacks Investment Research upgraded PVH Corp. from a hold rating to a buy rating and set a $112.00 price target for the company in a report on Monday, May 22nd. Finally, J P Morgan Chase & Co reiterated an overweight rating and issued a $130.00 price target (up from $125.00) on shares of PVH Corp. in a report on Thursday, June 22nd. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. PVH Corp. currently has an average rating of Buy and a consensus price target of $123.11.
PVH Corp. (PVH) opened at 112.56 on Tuesday. The firm has a market capitalization of $8.76 billion, a P/E ratio of 23.27 and a beta of 0.50. The company has a 50-day moving average price of $105.06 and a 200-day moving average price of $97.56. PVH Corp. has a one year low of $84.53 and a one year high of $115.86.
PVH Corp. (NYSE:PVH) last posted its quarterly earnings data on Wednesday, May 24th. The textile maker reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.05. PVH Corp. had a return on equity of 11.57% and a net margin of 4.69%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the previous year, the business earned $1.50 EPS. PVH Corp.’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that PVH Corp. will post $7.51 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Investors of record on Thursday, May 18th were given a dividend of $0.038 per share. The ex-dividend date of this dividend was Tuesday, May 16th. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. PVH Corp.’s dividend payout ratio is currently 3.11%.
In other PVH Corp. news, COO Michael A. Shaffer sold 45,525 shares of the business’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $111.37, for a total transaction of $5,070,119.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Francis K. Duane sold 2,497 shares of the business’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $105.99, for a total value of $264,657.03. The disclosure for this sale can be found here. Insiders have sold a total of 59,627 shares of company stock valued at $6,584,743 in the last quarter. 1.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. raised its position in shares of PVH Corp. by 12.8% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 388,975 shares of the textile maker’s stock worth $44,538,000 after buying an additional 44,225 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of PVH Corp. by 20.1% in the second quarter. Oregon Public Employees Retirement Fund now owns 31,702 shares of the textile maker’s stock worth $3,630,000 after buying an additional 5,300 shares during the period. Cascade Investment Advisors Inc. raised its position in shares of PVH Corp. by 6.0% in the second quarter. Cascade Investment Advisors Inc. now owns 4,135 shares of the textile maker’s stock worth $473,000 after buying an additional 235 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in shares of PVH Corp. by 492.0% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 12,869 shares of the textile maker’s stock worth $1,474,000 after buying an additional 10,695 shares during the period. Finally, Bank of Montreal Can raised its position in shares of PVH Corp. by 4.8% in the second quarter. Bank of Montreal Can now owns 59,093 shares of the textile maker’s stock worth $6,766,000 after buying an additional 2,708 shares during the period. Institutional investors own 96.44% of the company’s stock.
PVH Corp. Company Profile
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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