PVH Corp (PVH) Lifted to “Overweight” at JPMorgan Chase & Co.
PVH Corp (NYSE:PVH) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Thursday. The firm presently has a $125.00 price objective on the textile maker’s stock, up from their previous price objective of $116.00. JPMorgan Chase & Co.’s target price would suggest a potential upside of 16.84% from the stock’s previous close.
PVH has been the subject of a number of other reports. Wells Fargo & Co reiterated an “outperform” rating and set a $126.00 price target on shares of PVH Corp in a report on Thursday, March 23rd. Zacks Investment Research lowered PVH Corp from a “buy” rating to a “hold” rating in a report on Friday, May 19th. Evercore ISI lowered PVH Corp from a “buy” rating to a “hold” rating in a report on Wednesday, February 1st. Credit Suisse Group AG set a $121.00 price target on PVH Corp and gave the stock a “hold” rating in a report on Monday, March 20th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $112.00 target price on shares of PVH Corp in a research note on Thursday, March 23rd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. PVH Corp has an average rating of “Buy” and a consensus target price of $119.25.
PVH Corp (NYSE:PVH) traded up 4.84% during trading on Thursday, reaching $106.98. 3,913,384 shares of the company’s stock were exchanged. PVH Corp has a 52-week low of $83.80 and a 52-week high of $115.40. The company has a market capitalization of $8.37 billion, a price-to-earnings ratio of 15.76 and a beta of 0.67. The stock’s 50-day moving average price is $101.29 and its 200-day moving average price is $97.73. PVH Corp also saw unusually large options trading on Tuesday. Stock investors bought 7,879 put options on the company. This represents an increase of 1,473% compared to the typical volume of 501 put options.
PVH Corp (NYSE:PVH) last issued its quarterly earnings results on Wednesday, May 24th. The textile maker reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.05. PVH Corp had a return on equity of 12.15% and a net margin of 7.10%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the company earned $1.50 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts expect that PVH Corp will post $7.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Thursday, May 18th will be paid a dividend of $0.038 per share. The ex-dividend date is Tuesday, May 16th. This represents a $0.15 annualized dividend and a yield of 0.14%. PVH Corp’s dividend payout ratio is currently 2.10%.
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In other news, CEO Daniel Grieder sold 18,701 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.43, for a total transaction of $1,934,244.43. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark D. Fischer sold 1,000 shares of the stock in a transaction on Friday, March 24th. The stock was sold at an average price of $101.72, for a total value of $101,720.00. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. FNY Partners Fund LP boosted its stake in shares of PVH Corp by 53.3% in the first quarter. FNY Partners Fund LP now owns 1,150 shares of the textile maker’s stock valued at $118,000 after buying an additional 400 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of PVH Corp by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,334 shares of the textile maker’s stock valued at $138,000 after buying an additional 116 shares during the last quarter. NINE MASTS CAPITAL Ltd acquired a new stake in shares of PVH Corp during the first quarter valued at approximately $155,000. Financial Architects Inc boosted its stake in shares of PVH Corp by 261.6% in the first quarter. Financial Architects Inc now owns 1,602 shares of the textile maker’s stock valued at $166,000 after buying an additional 1,159 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of PVH Corp during the first quarter valued at approximately $198,000. Institutional investors own 97.96% 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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