PVH (NYSE:PVH) Reaches New 52-Week Low on Analyst Downgrade

Shares of PVH Corp. (NYSE:PVH) hit a new 52-week low during trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $95.00 to $85.00. Wells Fargo & Company currently has an equal weight rating on the stock. PVH traded as low as $66.84 and last traded at $69.02, with a volume of 1066370 shares. The stock had previously closed at $69.87.

PVH has been the subject of several other reports. Morgan Stanley reduced their target price on PVH from $95.00 to $86.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 2nd. Evercore ISI reduced their target price on PVH from $139.00 to $105.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. BMO Capital Markets cut their price objective on PVH from $106.00 to $93.00 and set a “market perform” rating for the company in a report on Tuesday, April 1st. UBS Group reduced their target price on shares of PVH from $172.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. Finally, Barclays dropped their target price on shares of PVH from $103.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $103.00.

Institutional Trading of PVH

Hedge funds have recently modified their holdings of the stock. UMB Bank n.a. grew its stake in shares of PVH by 78.5% during the fourth quarter. UMB Bank n.a. now owns 282 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 124 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of PVH during the fourth quarter valued at approximately $47,000. GAMMA Investing LLC grew its stake in shares of PVH by 36.0% during the fourth quarter. GAMMA Investing LLC now owns 487 shares of the textile maker’s stock valued at $52,000 after purchasing an additional 129 shares during the last quarter. Allworth Financial LP bought a new stake in shares of PVH during the fourth quarter valued at approximately $50,000. Finally, Hoey Investments Inc. bought a new stake in shares of PVH during the fourth quarter valued at approximately $55,000. 97.25% of the stock is owned by institutional investors.

PVH Price Performance

The company’s fifty day moving average is $69.29 and its two-hundred day moving average is $88.28. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 5.62, a price-to-earnings-growth ratio of 0.77 and a beta of 1.89. The company has a quick ratio of 0.69, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

PVH (NYSE:PVH) last announced its quarterly earnings data on Monday, March 31st. The textile maker reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.08. PVH had a net margin of 8.13% and a return on equity of 13.66%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the business posted $3.72 earnings per share. PVH’s revenue was down 4.8% compared to the same quarter last year. Equities research analysts anticipate that PVH Corp. will post 11.67 earnings per share for the current fiscal year.

PVH Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.22%. PVH’s dividend payout ratio is currently 1.42%.

PVH Company Profile

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.