PVH (NYSE:PVH) Shares Gap Down – Here’s Why

PVH Corp. (NYSE:PVH) gapped down prior to trading on Friday . The stock had previously closed at $96.32, but opened at $94.29. PVH shares last traded at $93.97, with a volume of 180,265 shares traded.

Analysts Set New Price Targets

PVH has been the subject of a number of research analyst reports. Telsey Advisory Group restated an “outperform” rating and issued a $130.00 price objective on shares of PVH in a report on Wednesday, December 4th. Bank of America cut PVH from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $130.00 to $107.00 in a research note on Wednesday, October 2nd. Guggenheim raised their price target on PVH from $105.00 to $125.00 and gave the company a “buy” rating in a report on Friday, December 6th. Morgan Stanley dropped their price target on shares of PVH from $103.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered shares of PVH from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $149.00 to $113.00 in a research note on Friday. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, PVH currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.73.

PVH Price Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.69. The company has a market cap of $5.13 billion, a PE ratio of 7.51, a PEG ratio of 0.98 and a beta of 2.09. The stock’s 50-day moving average is $104.42 and its 200 day moving average is $100.82.

PVH (NYSE:PVH) last announced its quarterly earnings data on Wednesday, December 4th. The textile maker reported $3.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.44. PVH had a net margin of 8.13% and a return on equity of 13.66%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the previous year, the company earned $2.90 earnings per share. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, equities analysts anticipate that PVH Corp. will post 11.67 earnings per share for the current fiscal year.

PVH Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were given a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a yield of 0.16%. The ex-dividend date was Wednesday, November 27th. PVH’s dividend payout ratio is currently 1.22%.

Insiders Place Their Bets

In other PVH news, EVP Mark D. Fischer sold 3,186 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $105.50, for a total transaction of $336,123.00. Following the completion of the transaction, the executive vice president now owns 23,103 shares of the company’s stock, valued at $2,437,366.50. This represents a 12.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On PVH

A number of institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC purchased a new position in PVH in the second quarter worth approximately $6,995,000. Mercer Global Advisors Inc. ADV increased its position in shares of PVH by 24.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 10,941 shares of the textile maker’s stock valued at $1,158,000 after acquiring an additional 2,144 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of PVH by 134.0% in the 2nd quarter. Hsbc Holdings PLC now owns 15,257 shares of the textile maker’s stock valued at $1,607,000 after acquiring an additional 8,737 shares during the period. Intech Investment Management LLC acquired a new position in shares of PVH in the 2nd quarter worth approximately $284,000. Finally, Sei Investments Co. boosted its position in shares of PVH by 30.1% during the 2nd quarter. Sei Investments Co. now owns 160,058 shares of the textile maker’s stock worth $16,946,000 after purchasing an additional 37,012 shares during the period. 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.