PVH (NYSE:PVH) Upgraded to “Outperform” by Wedbush

Wedbush upgraded shares of PVH (NYSE:PVH) from a neutral rating to an outperform rating in a report published on Monday, MarketBeat reports. The firm currently has $128.00 price objective on the textile maker’s stock, up from their previous price objective of $113.00.

PVH has been the topic of several other reports. Citigroup cut their price objective on shares of PVH from $139.00 to $120.00 and set a neutral rating on the stock in a report on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their price objective on shares of PVH from $146.00 to $157.00 and gave the company an overweight rating in a report on Monday, April 8th. Barclays cut their price objective on shares of PVH from $157.00 to $149.00 and set an overweight rating on the stock in a report on Thursday, April 4th. Morgan Stanley cut their price objective on shares of PVH from $134.00 to $110.00 and set an equal weight rating on the stock in a report on Wednesday, April 3rd. Finally, Bank of America cut their price target on shares of PVH from $156.00 to $122.00 and set a buy rating on the stock in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $129.40.

PVH Trading Up 0.7 %

Shares of PVH stock opened at $106.33 on Monday. PVH has a 52-week low of $69.27 and a 52-week high of $141.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 1.18. The firm has a market capitalization of $6.13 billion, a PE ratio of 9.80, a PEG ratio of 1.01 and a beta of 2.20. The stock has a fifty day simple moving average of $128.16 and a two-hundred day simple moving average of $108.90.

PVH (NYSE:PVH) last issued its quarterly earnings data on Tuesday, April 2nd. The textile maker reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.21. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.42 billion. PVH had a return on equity of 12.96% and a net margin of 7.20%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business posted $2.38 earnings per share. On average, analysts predict that PVH will post 10.9 EPS for the current fiscal year.

PVH Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a $0.0375 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. PVH’s dividend payout ratio (DPR) is currently 1.38%.

PVH declared that its Board of Directors has authorized a share repurchase program on Monday, April 1st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the textile maker to buy up to 24% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP James Holmes sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $108.39, for a total transaction of $325,170.00. Following the completion of the transaction, the executive vice president now owns 13,904 shares in the company, valued at approximately $1,507,054.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.78% of the company’s stock.

Institutional Trading of PVH

Several large investors have recently bought and sold shares of the business. Citigroup Inc. grew its stake in shares of PVH by 13.1% in the 3rd quarter. Citigroup Inc. now owns 18,020 shares of the textile maker’s stock valued at $1,379,000 after buying an additional 2,092 shares during the period. UBS Group AG grew its stake in shares of PVH by 72.7% in the 3rd quarter. UBS Group AG now owns 133,499 shares of the textile maker’s stock valued at $10,214,000 after buying an additional 56,193 shares during the period. Teza Capital Management LLC grew its stake in shares of PVH by 167.5% in the 3rd quarter. Teza Capital Management LLC now owns 11,629 shares of the textile maker’s stock valued at $890,000 after buying an additional 7,282 shares during the period. QRG Capital Management Inc. purchased a new stake in shares of PVH in the 3rd quarter valued at approximately $367,000. Finally, Invesco Ltd. grew its stake in shares of PVH by 51.6% in the 3rd quarter. Invesco Ltd. now owns 422,584 shares of the textile maker’s stock valued at $32,332,000 after buying an additional 143,832 shares during the period. Hedge funds and other institutional investors own 97.25% of the company’s stock.

About PVH

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, and Heritage Brands Wholesale segments. It designs and markets men's, women's, and children's branded apparel, footwear and accessories, underwear, sleepwear, outerwear, home furnishings, luggage, dresses, suits and swimwear, activewear, sportswear, socks and accessories, outerwear, golf products, footwear, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, jeans wear, performance apparel, intimate apparel, dress shirts, handbags, fragrance, small leather goods, and other related products; and men's and boy's tailored clothing products, duvets, pillows, mattress pads and toppers, and feather beds.