PVH Corp. (PVH) Lowered to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of PVH Corp. (NYSE:PVH) from a buy rating to a hold rating in a research note published on Wednesday.
According to Zacks, “PVH Corp. has outperformed the broader industry year to date. The company has been doing well on the back of superb earnings history and brand strength. The company's diversified portfolio allows it to stay ahead of its peers, generate above-average industry growth and sustain its position in the current challenging environment. PVH’s approach to brand management facilitates each of its brands to develop further through efficient marketing strategies, financial control and operating leverage. Further, focus on higher-margin businesses through buyouts and divestments bode well. The company’s raised fiscal 2017 view reflects confidence in its investments in brands and global platforms. However, management expects currency woes, along with a volatile retail scenario to remain deterrents in fiscal 2017. Estimates have been going up lately ahead of the second quarter earnings release.”
PVH has been the topic of several other research reports. Wells Fargo & Company restated an outperform rating and set a $126.00 target price on shares of PVH Corp. in a research report on Thursday, March 23rd. Piper Jaffray Companies set a $120.00 target price on PVH Corp. and gave the company a buy rating in a research report on Thursday, May 25th. Credit Suisse Group set a $121.00 target price on PVH Corp. and gave the company a hold rating in a research report on Monday, March 20th. Cowen and Company upped their target price on PVH Corp. from $108.00 to $118.00 and gave the company a buy rating in a research report on Thursday, March 23rd. Finally, Wunderlich restated a buy rating and set a $125.00 target price on shares of PVH Corp. in a research report on Saturday, March 25th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. PVH Corp. presently has a consensus rating of Buy and an average target price of $122.06.
PVH Corp. (NYSE:PVH) traded up 2.99% during trading on Wednesday, hitting $108.21. The stock had a trading volume of 506,886 shares. PVH Corp. has a one year low of $83.80 and a one year high of $115.40. The firm has a market capitalization of $8.42 billion, a P/E ratio of 22.37 and a beta of 0.47. The stock has a 50 day moving average of $103.30 and a 200 day moving average of $97.25.
PVH Corp. (NYSE:PVH) last announced its earnings results on Wednesday, May 24th. The textile maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.60 by $0.05. PVH Corp. had a return on equity of 11.57% and a net margin of 4.69%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the company earned $1.50 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts expect that PVH Corp. will post $7.50 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Thursday, May 18th were paid a $0.038 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Tuesday, May 16th. PVH Corp.’s dividend payout ratio (DPR) is presently 3.11%.
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 value of $101,720.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel Grieder sold 18,701 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $103.43, for a total value of $1,934,244.43. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,034 shares of company stock valued at $3,125,205. Company insiders own 1.30% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. FNY Partners Fund LP increased 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 period. Penserra Capital Management LLC increased 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 worth $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 worth approximately $155,000. Financial Architects Inc increased 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 worth $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 worth approximately $198,000. 96.69% of the stock is owned by hedge funds and other institutional investors.
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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