PVH Corp. (PVH) Price Target Increased to $138.00 by Analysts at Wells Fargo & Company
PVH Corp. (NYSE:PVH) had its price objective upped by Wells Fargo & Company from $126.00 to $138.00 in a research note released on Thursday. The firm currently has an outperform rating on the textile maker’s stock.
PVH has been the topic of a number of other reports. Bank of America Corp initiated coverage on PVH Corp. in a research note on Thursday, August 3rd. They issued a buy rating and a $146.00 price target on the stock. Zacks Investment Research downgraded PVH Corp. from a buy rating to a hold rating in a research note on Monday, May 29th. Credit Suisse Group upgraded PVH Corp. from a neutral rating to an outperform rating and raised their price target for the stock from $114.00 to $136.00 in a research note on Tuesday, May 30th. Citigroup Inc. lifted their target price on PVH Corp. from $115.00 to $125.00 and gave the company a buy rating in a research report on Tuesday, May 30th. Finally, BidaskClub upgraded PVH Corp. from a hold rating to a buy rating in a research report on Thursday, June 29th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $132.00.
PVH Corp. (NYSE:PVH) traded down 0.44% during midday trading on Thursday, reaching $126.36. The company had a trading volume of 1,084,598 shares. PVH Corp. has a 12-month low of $84.53 and a 12-month high of $130.25. The stock’s 50 day moving average is $118.71 and its 200 day moving average is $104.65. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of 24.10 and a beta of 0.51. PVH Corp. also was the recipient of unusually large options trading on Wednesday. Stock traders purchased 13,612 put options on the company. This represents an increase of 1,016% compared to the average volume of 1,220 put options.
PVH Corp. (NYSE:PVH) last released its quarterly earnings results on Wednesday, August 23rd. The textile maker reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.04. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.02 billion. PVH Corp. had a return on equity of 11.83% and a net margin of 4.96%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the business posted $1.47 EPS. Equities research analysts expect that PVH Corp. will post $7.66 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Thursday, August 24th will be issued a dividend of $0.038 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.15 dividend on an annualized basis and a yield of 0.12%. PVH Corp.’s dividend payout ratio is presently 2.87%.
In other news, CEO Steven B. Shiffman sold 2,200 shares of PVH Corp. stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $105.82, for a total value of $232,804.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mark D. Fischer sold 1,500 shares of PVH Corp. stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $115.00, for a total value of $172,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,130 shares of company stock worth $6,320,086. Insiders own 1.30% of the company’s stock.
Several large investors have recently modified their holdings of the company. Bank of Montreal Can boosted its stake in shares of PVH Corp. by 109.3% in the first quarter. Bank of Montreal Can now owns 56,385 shares of the textile maker’s stock valued at $5,835,000 after buying an additional 29,449 shares during the period. Retirement Systems of Alabama boosted its stake in shares of PVH Corp. by 2.0% in the first quarter. Retirement Systems of Alabama now owns 38,315 shares of the textile maker’s stock valued at $3,964,000 after buying an additional 744 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in shares of PVH Corp. by 6.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,174 shares of the textile maker’s stock valued at $210,000 after buying an additional 125 shares during the period. Glen Harbor Capital Management LLC boosted its stake in shares of PVH Corp. by 515.5% in the first quarter. Glen Harbor Capital Management LLC now owns 54,628 shares of the textile maker’s stock valued at $5,652,000 after buying an additional 45,752 shares during the period. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of PVH Corp. during the first quarter valued at about $442,000. 98.12% of the stock is currently owned by hedge funds and other 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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