TD Cowen Trims PVH (NYSE:PVH) Target Price to $149.00

PVH (NYSE:PVH) had its price objective trimmed by TD Cowen from $154.00 to $149.00 in a research report sent to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the textile maker’s stock.

A number of other brokerages also recently weighed in on PVH. Evercore ISI boosted their price target on PVH from $130.00 to $140.00 and gave the stock an outperform rating in a research report on Monday, June 3rd. JPMorgan Chase & Co. boosted their price target on PVH from $146.00 to $157.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Jefferies Financial Group assumed coverage on PVH in a research report on Tuesday, April 30th. They set a hold rating and a $115.00 price target on the stock. Guggenheim upped their target price on PVH from $120.00 to $140.00 and gave the company a buy rating in a research report on Tuesday, April 2nd. Finally, StockNews.com raised PVH from a buy rating to a strong-buy rating in a research report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $133.50.

PVH Stock Performance

PVH opened at $100.05 on Thursday. PVH has a 52-week low of $69.27 and a 52-week high of $141.15. The firm has a market capitalization of $5.59 billion, a PE ratio of 8.85, a PEG ratio of 0.78 and a beta of 2.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 1.55. The business’s 50-day simple moving average is $110.47 and its 200 day simple moving average is $118.24.

PVH (NYSE:PVH) last announced its quarterly earnings results on Tuesday, June 4th. The textile maker reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.31. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.93 billion. PVH had a return on equity of 13.14% and a net margin of 7.53%. The business’s revenue was down 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.14 earnings per share. As a group, sell-side analysts expect that PVH will post 11.23 earnings per share for the current fiscal year.

PVH announced that its board has authorized a stock repurchase program on Monday, April 1st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the textile maker to repurchase up to 24% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

PVH Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th were given a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date was Wednesday, June 5th. PVH’s dividend payout ratio is currently 1.33%.

Institutional Investors Weigh In On PVH

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in shares of PVH by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,069,531 shares of the textile maker’s stock valued at $374,855,000 after acquiring an additional 115,731 shares during the last quarter. LSV Asset Management lifted its stake in shares of PVH by 1.3% in the 4th quarter. LSV Asset Management now owns 809,930 shares of the textile maker’s stock valued at $98,909,000 after acquiring an additional 10,194 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of PVH by 234.1% in the 1st quarter. Principal Financial Group Inc. now owns 741,151 shares of the textile maker’s stock valued at $104,213,000 after acquiring an additional 519,316 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in PVH by 19.2% in the second quarter. Bank of New York Mellon Corp now owns 692,490 shares of the textile maker’s stock valued at $73,314,000 after purchasing an additional 111,307 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in PVH by 28.6% in the fourth quarter. Victory Capital Management Inc. now owns 624,132 shares of the textile maker’s stock valued at $76,219,000 after purchasing an additional 138,952 shares during the period. 97.25% of the stock is currently owned by institutional investors.

PVH Company Profile

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.