PVH (NYSE:PVH) Price Target Cut to $130.00 by Analysts at Bank of America

PVH (NYSE:PVH) had its price target reduced by Bank of America from $133.00 to $130.00 in a research note released on Thursday, Benzinga reports. Bank of America currently has a buy rating on the textile maker’s stock.

Other analysts have also issued reports about the stock. Wells Fargo & Company reduced their price objective on shares of PVH from $145.00 to $130.00 and set an overweight rating for the company in a research note on Wednesday, August 28th. Morgan Stanley raised their price objective on shares of PVH from $110.00 to $120.00 and gave the company an equal weight rating in a research note on Thursday, June 6th. BMO Capital Markets reduced their price objective on shares of PVH from $119.00 to $106.00 and set a market perform rating for the company in a research note on Wednesday, August 28th. Wedbush restated an outperform rating and set a $128.00 price objective on shares of PVH in a research note on Wednesday, June 5th. Finally, Telsey Advisory Group reduced their price objective on shares of PVH from $140.00 to $130.00 and set an outperform rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, PVH currently has a consensus rating of Moderate Buy and an average target price of $131.73.

PVH Trading Up 1.9 %

Shares of NYSE PVH opened at $98.69 on Thursday. PVH has a 1 year low of $69.27 and a 1 year high of $141.15. The stock has a market cap of $5.51 billion, a P/E ratio of 8.73, a price-to-earnings-growth ratio of 0.77 and a beta of 2.14. The firm has a 50-day moving average of $101.84 and a 200 day moving average of $114.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.24 and a quick ratio of 0.83.

PVH (NYSE:PVH) last issued its quarterly earnings results on Tuesday, August 27th. The textile maker reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.72. PVH had a net margin of 8.37% and a return on equity of 13.94%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the company posted $1.98 EPS. PVH’s revenue was down 6.0% on a year-over-year basis. As a group, sell-side analysts expect that PVH will post 11.47 EPS for the current fiscal year.

PVH Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Wednesday, September 4th. PVH’s dividend payout ratio (DPR) is presently 1.33%.

Hedge Funds Weigh In On PVH

Several hedge funds have recently modified their holdings of PVH. Pzena Investment Management LLC raised its stake in PVH by 5.3% during the second quarter. Pzena Investment Management LLC now owns 5,623,706 shares of the textile maker’s stock valued at $595,382,000 after purchasing an additional 284,269 shares in the last quarter. Dimensional Fund Advisors LP increased its position in PVH by 1.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,148,855 shares of the textile maker’s stock valued at $333,375,000 after acquiring an additional 55,293 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in PVH by 14.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,320,471 shares of the textile maker’s stock valued at $245,668,000 after acquiring an additional 296,040 shares during the last quarter. Pacer Advisors Inc. increased its position in PVH by 13,275.0% during the second quarter. Pacer Advisors Inc. now owns 1,222,207 shares of the textile maker’s stock valued at $129,395,000 after acquiring an additional 1,213,069 shares during the last quarter. Finally, LSV Asset Management increased its position in PVH by 15.7% during the second quarter. LSV Asset Management now owns 916,002 shares of the textile maker’s stock valued at $96,977,000 after acquiring an additional 124,309 shares during the last quarter. 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.