PVH (PVH) Shares Down 6.1%

PVH Corp (NYSE:PVH)’s share price traded down 6.1% during trading on Wednesday . The stock traded as low as $106.23 and last traded at $107.29. 1,444,200 shares traded hands during mid-day trading, an increase of 17% from the average session volume of 1,230,197 shares. The stock had previously closed at $114.25.

Several equities analysts have commented on the stock. Piper Jaffray Companies set a $177.00 price target on shares of PVH and gave the stock a “buy” rating in a research note on Thursday, August 30th. Deutsche Bank boosted their price target on shares of PVH from $171.00 to $173.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Zacks Investment Research upgraded shares of PVH from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a research note on Friday, August 17th. DA Davidson boosted their price target on shares of PVH to $134.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Bank of America set a $180.00 price target on shares of PVH and gave the stock a “buy” rating in a research note on Thursday, August 30th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. PVH presently has a consensus rating of “Buy” and a consensus target price of $154.10.

The stock has a market capitalization of $8.48 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 0.97 and a beta of 0.88. The company has a current ratio of 1.74, a quick ratio of 0.85 and a debt-to-equity ratio of 0.51.

PVH (NYSE:PVH) last released its quarterly earnings data on Thursday, November 29th. The textile maker reported $3.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.14 by $0.07. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.53 billion. PVH had a net margin of 7.20% and a return on equity of 13.00%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.02 EPS. Analysts predict that PVH Corp will post 9.35 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Wednesday, November 28th will be given a dividend of $0.0375 per share. The ex-dividend date is Tuesday, November 27th. This represents a $0.15 annualized dividend and a dividend yield of 0.14%. PVH’s dividend payout ratio (DPR) is currently 1.89%.

Several institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its position in shares of PVH by 4.1% during the 2nd quarter. CIBC Asset Management Inc now owns 8,451 shares of the textile maker’s stock worth $1,265,000 after purchasing an additional 333 shares during the last quarter. IFP Advisors Inc lifted its position in shares of PVH by 9.0% during the 2nd quarter. IFP Advisors Inc now owns 4,760 shares of the textile maker’s stock worth $713,000 after purchasing an additional 395 shares during the last quarter. Penserra Capital Management LLC lifted its position in shares of PVH by 16.5% during the 3rd quarter. Penserra Capital Management LLC now owns 2,944 shares of the textile maker’s stock worth $425,000 after purchasing an additional 416 shares during the last quarter. Lido Advisors LLC lifted its position in shares of PVH by 26.8% during the 2nd quarter. Lido Advisors LLC now owns 2,062 shares of the textile maker’s stock worth $308,000 after purchasing an additional 436 shares during the last quarter. Finally, Redpoint Investment Management Pty Ltd lifted its position in shares of PVH by 4.2% during the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 10,945 shares of the textile maker’s stock worth $1,639,000 after purchasing an additional 439 shares during the last quarter. 95.35% of the stock is owned by institutional investors and hedge funds.

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About PVH (NYSE:PVH)

PVH Corp. operates as an apparel company in North America and internationally. The company operates through six segments: Calvin Klein North America, Calvin Klein International, Tommy Hilfiger North America, Tommy Hilfiger International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's and women's apparel and accessories, including branded dress shirts, dresses, suits, neckwear, sportswear, jeans wear, performance and intimate apparel, underwear, swimwear, swim products, handbags, luggage products, footwear, golf apparel, sleepwear and loungewear, eyewear and fragrances, cosmetics, skincare products and toiletries, socks and tights, jewelry, watches, outerwear, small leather goods, and furnishings, as well as other related products.

Further Reading: SEC Filing

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