Bank of America Corporation Begins Coverage on PVH Corp. (PVH)
Bank of America Corporation started coverage on shares of PVH Corp. (NYSE:PVH) in a research note published on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $146.00 price objective on the textile maker’s stock.
Several other brokerages have also issued reports on PVH. BidaskClub upgraded shares of PVH Corp. from a hold rating to a buy rating in a research report on Monday, July 31st. Cowen and Company set a $120.00 price target on shares of PVH Corp. and gave the stock a buy rating in a research note on Thursday, July 27th. Buckingham Research reissued a buy rating and set a $127.00 price target on shares of PVH Corp. in a research note on Monday, July 17th. UBS AG reissued a buy rating and set a $128.00 price target (up from $120.00) on shares of PVH Corp. in a research note on Monday, June 26th. Finally, ValuEngine raised shares of PVH Corp. from a hold rating to a buy rating in a research note on Tuesday, June 27th. Three equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $124.26.
PVH Corp. (PVH) traded up 0.68% during trading on Thursday, reaching $122.10. 760,298 shares of the company were exchanged. The company has a market capitalization of $9.50 billion, a P/E ratio of 25.18 and a beta of 0.51. The firm’s 50-day moving average is $112.65 and its 200 day moving average is $101.15. PVH Corp. has a one year low of $84.53 and a one year high of $122.75.
PVH Corp. (NYSE:PVH) last announced its earnings results on Wednesday, May 24th. The textile maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.05. PVH Corp. had a net margin of 4.69% and a return on equity of 11.57%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business posted $1.50 earnings per share. PVH Corp.’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts anticipate that PVH Corp. will post $7.52 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Thursday, August 24th will be paid a $0.038 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Tuesday, August 22nd. PVH Corp.’s payout ratio is 3.11%.
In related news, EVP David F. Kozel sold 5,636 shares of PVH Corp. stock in a transaction on Friday, June 9th. The shares were sold at an average price of $105.00, for a total value of $591,780.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Francis K. Duane sold 2,497 shares of PVH Corp. stock in a transaction on Friday, May 26th. The shares were sold at an average price of $105.99, for a total transaction of $264,657.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,627 shares of company stock worth $6,584,743. 1.30% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in PVH. Advisors Asset Management Inc. boosted its stake in PVH Corp. by 28.2% in the second quarter. Advisors Asset Management Inc. now owns 927 shares of the textile maker’s stock valued at $106,000 after buying an additional 204 shares during the period. FNY Partners Fund LP boosted its stake in 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 boosted its stake in PVH Corp. by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,334 shares of the textile maker’s stock valued at $138,000 after buying an additional 116 shares during the period. NINE MASTS CAPITAL Ltd bought a new stake in PVH Corp. during the first quarter valued at $155,000. Finally, Financial Architects Inc boosted its stake in PVH Corp. by 261.6% in the first quarter. Financial Architects Inc now owns 1,602 shares of the textile maker’s stock valued at $166,000 after buying an additional 1,159 shares during the period. Institutional investors and hedge funds own 96.27% 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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