Deutsche Bank Trims PVH (PVH) Target Price to $145.00
PVH (NYSE:PVH) had its price target trimmed by Deutsche Bank from $178.00 to $145.00 in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the textile maker’s stock.
PVH has been the subject of several other reports. Citigroup boosted their price objective on PVH from $120.00 to $128.00 and gave the stock a neutral rating in a research report on Friday, March 29th. Guggenheim reiterated a buy rating and set a $150.00 price objective on shares of PVH in a research report on Wednesday, May 29th. ValuEngine downgraded PVH from a sell rating to a strong sell rating in a research report on Wednesday, May 29th. Piper Jaffray Companies reduced their price objective on PVH from $146.00 to $121.00 and set an in-line rating for the company in a research report on Thursday. Finally, Wells Fargo & Co reduced their price objective on PVH from $140.00 to $120.00 and set an outperform rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. PVH currently has a consensus rating of Buy and a consensus target price of $130.21.
NYSE:PVH opened at $85.19 on Thursday. The company has a market cap of $6.34 billion, a PE ratio of 8.87, a P/E/G ratio of 0.68 and a beta of 1.09. PVH has a 52 week low of $82.51 and a 52 week high of $169.22. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.71 and a quick ratio of 0.80.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd will be given a $0.0375 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $0.15 dividend on an annualized basis and a yield of 0.18%. PVH’s dividend payout ratio (DPR) is 1.56%.
PVH announced that its board has authorized a share repurchase program on Wednesday, March 27th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the textile maker to purchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other PVH news, SVP Dana Perlman sold 1,054 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $128.92, for a total value of $135,881.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Francis K. Duane sold 6,171 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $127.27, for a total value of $785,383.17. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PVH. Vanguard Group Inc increased its holdings in shares of PVH by 1.1% in the third quarter. Vanguard Group Inc now owns 7,930,508 shares of the textile maker’s stock valued at $1,145,165,000 after buying an additional 88,970 shares in the last quarter. FMR LLC increased its holdings in shares of PVH by 13.9% in the first quarter. FMR LLC now owns 7,692,951 shares of the textile maker’s stock valued at $938,155,000 after buying an additional 936,855 shares in the last quarter. Pzena Investment Management LLC bought a new position in shares of PVH in the first quarter valued at $237,285,000. Dimensional Fund Advisors LP increased its holdings in shares of PVH by 19.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,446,545 shares of the textile maker’s stock valued at $176,454,000 after buying an additional 233,638 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of PVH by 2.0% in the first quarter. Geode Capital Management LLC now owns 1,231,249 shares of the textile maker’s stock valued at $149,928,000 after buying an additional 23,774 shares in the last quarter. Hedge funds and other institutional investors own 94.98% of the company’s stock.
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, fragrances, cosmetics, skincare products and toiletries, socks and tights, jewelry, watches, outerwear, small leather goods, and furnishings, as well as other related products.
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