PVH Corp.’s (PVH) “Buy” Rating Reaffirmed at Buckingham Research
PVH Corp. (NYSE:PVH)‘s stock had its “buy” rating reiterated by equities researchers at Buckingham Research in a research report issued to clients and investors on Monday. They currently have a $127.00 price objective on the textile maker’s stock. Buckingham Research’s price objective suggests a potential upside of 12.83% from the company’s current price.
A number of other brokerages have also recently weighed in on PVH. BidaskClub upgraded shares of PVH Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. UBS AG reiterated a “buy” rating and set a $128.00 price target (up previously from $120.00) on shares of PVH Corp. in a research note on Monday, June 26th. ValuEngine upgraded shares of PVH Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. FBR & Co began coverage on shares of PVH Corp. in a research note on Tuesday, July 11th. They set an “outperform” rating and a $135.00 price target for the company. Finally, Cowen and Company increased their price target on shares of PVH Corp. from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, May 25th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $123.06.
PVH Corp. (NYSE:PVH) opened at 112.56 on Monday. The stock has a market cap of $8.76 billion, a PE ratio of 23.27 and a beta of 0.50. The company’s 50 day moving average is $105.06 and its 200 day moving average is $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 issued its quarterly earnings results on Wednesday, May 24th. The textile maker reported $1.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.05. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. PVH Corp. had a net margin of 4.69% and a return on equity of 11.57%. PVH Corp.’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.50 EPS. On average, equities research analysts expect that PVH Corp. will post $7.51 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Thursday, May 18th were issued a $0.038 dividend. The ex-dividend date was Tuesday, May 16th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. PVH Corp.’s dividend payout ratio is presently 3.11%.
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In other PVH Corp. news, CEO Francis K. Duane sold 2,497 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $105.99, for a total transaction of $264,657.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven B. Shiffman sold 2,200 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $105.82, for a total transaction of $232,804.00. The disclosure for this sale can be found here. Insiders sold a total of 59,627 shares of company stock valued at $6,584,743 in the last quarter. Insiders own 1.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in PVH Corp. by 3,001.8% in the first quarter. BlackRock Inc. now owns 5,090,455 shares of the textile maker’s stock valued at $526,711,000 after buying an additional 4,926,341 shares during the period. Ameriprise Financial Inc. increased its position in PVH Corp. by 17.1% in the first quarter. Ameriprise Financial Inc. now owns 2,692,857 shares of the textile maker’s stock valued at $278,637,000 after buying an additional 393,500 shares during the period. Credit Agricole S A increased its position in PVH Corp. by 104.7% in the first quarter. Credit Agricole S A now owns 763,289 shares of the textile maker’s stock valued at $78,977,000 after buying an additional 390,419 shares during the period. Highbridge Capital Management LLC increased its position in PVH Corp. by 112,735.7% in the fourth quarter. Highbridge Capital Management LLC now owns 337,907 shares of the textile maker’s stock valued at $30,492,000 after buying an additional 338,207 shares during the period. Finally, Bank of New York Mellon Corp increased its position in PVH Corp. by 14.8% in the first quarter. Bank of New York Mellon Corp now owns 1,590,433 shares of the textile maker’s stock valued at $164,563,000 after buying an additional 204,936 shares during the period. Hedge funds and other institutional investors own 96.44% of the company’s stock.
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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