PVH (NYSE:PVH) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of PVH (NYSE:PVHFree Report) from a buy rating to a strong-buy rating in a report issued on Friday morning.

A number of other equities research analysts also recently issued reports on PVH. Morgan Stanley lifted their price target on shares of PVH from $110.00 to $120.00 and gave the company an equal weight rating in a research report on Thursday, June 6th. Telsey Advisory Group reiterated an outperform rating and set a $140.00 price target on shares of PVH in a research report on Thursday, June 6th. BMO Capital Markets lifted their price target on shares of PVH from $110.00 to $119.00 and gave the company a market perform rating in a research report on Wednesday, June 5th. Evercore ISI lifted their price target on shares of PVH from $130.00 to $140.00 and gave the company an outperform rating in a research report on Monday, June 3rd. Finally, Wells Fargo & Company lifted their price target on shares of PVH from $138.00 to $145.00 and gave the company an overweight rating in a research report on Thursday, June 6th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $133.81.

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PVH Price Performance

Shares of PVH opened at $114.43 on Friday. PVH has a twelve month low of $69.27 and a twelve month high of $141.15. The stock’s 50 day moving average is $113.90 and its two-hundred day moving average is $120.62. The firm has a market capitalization of $6.39 billion, a PE ratio of 10.13, a P/E/G ratio of 0.87 and a beta of 2.15. The company has a current ratio of 1.55, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42.

PVH (NYSE:PVHGet Free Report) last announced its quarterly earnings data on Tuesday, June 4th. The textile maker reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.31. PVH had a return on equity of 13.14% and a net margin of 7.53%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the company earned $2.14 EPS. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. Research analysts anticipate that PVH will post 11.26 earnings per share for the current year.

PVH announced that its Board of Directors has initiated a stock buyback plan on Monday, April 1st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the textile maker to purchase up to 24% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

PVH Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.0375 per share. The ex-dividend date is Wednesday, June 5th. This represents a $0.15 annualized dividend and a dividend yield of 0.13%. PVH’s dividend payout ratio is presently 1.33%.

Insider Buying and Selling

In other PVH news, EVP James Holmes sold 3,000 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $108.39, for a total value of $325,170.00. Following the transaction, the executive vice president now owns 13,904 shares in the company, valued at approximately $1,507,054.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PVH

A number of large investors have recently bought and sold shares of PVH. Allianz Asset Management GmbH increased its stake in shares of PVH by 36.2% during the fourth quarter. Allianz Asset Management GmbH now owns 209,381 shares of the textile maker’s stock valued at $25,570,000 after acquiring an additional 55,601 shares during the period. Channing Capital Management LLC increased its stake in shares of PVH by 648.1% during the fourth quarter. Channing Capital Management LLC now owns 581,289 shares of the textile maker’s stock valued at $70,987,000 after acquiring an additional 503,586 shares during the period. Wedge Capital Management L L P NC acquired a new position in shares of PVH during the fourth quarter valued at approximately $45,911,000. Verition Fund Management LLC increased its stake in shares of PVH by 28.1% during the fourth quarter. Verition Fund Management LLC now owns 41,470 shares of the textile maker’s stock valued at $5,064,000 after acquiring an additional 9,109 shares during the period. Finally, Citigroup Inc. increased its stake in shares of PVH by 13.1% during the third quarter. Citigroup Inc. now owns 18,020 shares of the textile maker’s stock valued at $1,379,000 after acquiring an additional 2,092 shares during the period. Institutional investors own 97.25% of the company’s stock.

About PVH

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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.

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Analyst Recommendations for PVH (NYSE:PVH)

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