PVH Corp (NYSE:PVH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “PVH Corp. has outperformed the broader industry in the last one year on the back of superb earnings history and brand strength. The company posted fourth-quarter fiscal 2016 results, wherein sales saw its second consecutive beat, while earnings kept its positive surprise streak alive for the 11th straight time. Results continued to gain from the solid momentum at its Calvin Klein and Tommy Hilfiger brands, particularly in the international regions. PVH’s solid show despite a tough macro scenario encouraged management to issue a favorable outlook, as it remains confident of its investments in brands and global platforms. However, earnings fell year over year due to greater marketing costs and lingering currency headwinds. Further, management expects currency woes, along with a volatile retail scenario to remain deterrents in fiscal 2017. Nonetheless, the company’s recent efforts to keep pace with the evolving consumer trends bode well.”
Other research analysts have also recently issued reports about the stock. Credit Suisse Group AG decreased their price objective on shares of PVH Corp to $114.00 in a research report on Thursday, March 23rd. Wunderlich restated a “buy” rating and issued a $125.00 price objective on shares of PVH Corp in a research report on Saturday. Citigroup Inc upgraded shares of PVH Corp from a “neutral” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Friday, March 24th. Cowen and Company increased their price target on shares of PVH Corp from $108.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, March 23rd. Finally, Brean Capital reiterated a “buy” rating and set a $120.00 price target (down from $124.00) on shares of PVH Corp in a research report on Thursday, January 5th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $117.07.
PVH Corp (NYSE:PVH) opened at 102.69 on Monday. The stock has a 50 day moving average of $91.93 and a 200-day moving average of $99.78. PVH Corp has a 12 month low of $82.10 and a 12 month high of $115.40. The firm has a market cap of $8.03 billion, a P/E ratio of 15.12 and a beta of 0.67.
PVH Corp (NYSE:PVH) last posted its quarterly earnings data on Wednesday, March 22nd. The company reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.04. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.09 billion. PVH Corp had a net margin of 7.10% and a return on equity of 12.15%. PVH Corp’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 earnings per share. Equities research analysts predict that PVH Corp will post $7.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, February 24th were paid a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Wednesday, February 22nd. PVH Corp’s dividend payout ratio (DPR) is presently 2.10%.
In other news, EVP Mark D. Fischer sold 1,000 shares of the stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $101.72, for a total transaction of $101,720.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. HL Financial Services LLC acquired a new stake in shares of PVH Corp during the third quarter worth approximately $525,000. Boston Advisors LLC acquired a new stake in shares of PVH Corp during the third quarter worth approximately $4,810,000. Highstreet Asset Management Inc. acquired a new stake in shares of PVH Corp during the third quarter worth approximately $615,000. Regentatlantic Capital LLC raised its stake in shares of PVH Corp by 9.9% in the third quarter. Regentatlantic Capital LLC now owns 11,695 shares of the company’s stock worth $1,292,000 after buying an additional 1,050 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of PVH Corp by 14.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 38,500 shares of the company’s stock worth $4,254,000 after buying an additional 5,000 shares during the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.
PVH Corp Company Profile
PVH Corp. is an apparel company. The Company’s segments include Calvin Klein North America; Calvin Klein International; Tommy Hilfiger North America; Tommy Hilfiger International; Heritage Brands Wholesale, and Heritage Brands Retail. The Company’s brand portfolio consists of various brand names, including Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Warner’s, Olga and Eagle, which are owned, and Speedo, Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, Sean John, MICHAEL Michael Kors, Michael Kors Collection and Chaps, which are licensed, as well as various other licensed and private label brands.
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