PVH (NYSE:PVH) Given New $86.00 Price Target at Morgan Stanley

PVH (NYSE:PVH) had its price target trimmed by Morgan Stanley from $95.00 to $86.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the textile maker’s stock.

Several other brokerages also recently issued reports on PVH. Wells Fargo & Company downgraded shares of PVH from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $130.00 to $105.00 in a research note on Monday, February 3rd. Citigroup reduced their price target on PVH from $123.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 25th. Jefferies Financial Group dropped their target price on PVH from $101.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. downgraded PVH from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $149.00 to $113.00 in a research report on Friday, January 24th. Finally, Evercore ISI lowered their price target on PVH from $139.00 to $105.00 and set an “outperform” rating for the company in a report on Tuesday. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.07.

PVH Trading Up 1.8 %

Shares of PVH stock opened at $77.77 on Wednesday. PVH has a 1 year low of $62.91 and a 1 year high of $124.68. 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 business has a 50 day moving average price of $75.58 and a 200 day moving average price of $92.48. The company has a market capitalization of $4.33 billion, a P/E ratio of 6.33, a P/E/G ratio of 0.77 and a beta of 2.10.

PVH (NYSE:PVH) last released its quarterly earnings results on Monday, March 31st. The textile maker reported $3.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.08. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.34 billion. PVH had a return on equity of 13.66% and a net margin of 8.13%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.72 earnings per share. Sell-side analysts anticipate that PVH will post 11.67 EPS for the current fiscal year.

PVH Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were paid a $0.0375 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.19%. PVH’s dividend payout ratio (DPR) is currently 1.22%.

Hedge Funds Weigh In On PVH

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of PVH by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 627,655 shares of the textile maker’s stock valued at $66,375,000 after purchasing an additional 4,645 shares during the period. Bank of New York Mellon Corp increased its stake in PVH by 22.9% during the 4th quarter. Bank of New York Mellon Corp now owns 774,010 shares of the textile maker’s stock worth $81,852,000 after buying an additional 144,260 shares during the period. Clark Estates Inc. NY purchased a new position in PVH in the 4th quarter valued at about $2,855,000. Citizens Financial Group Inc. RI acquired a new stake in shares of PVH during the fourth quarter valued at about $466,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of PVH by 179,164.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 760,080 shares of the textile maker’s stock worth $79,705,000 after acquiring an additional 759,656 shares during the last quarter. 97.25% of the stock is owned by institutional investors and hedge funds.

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.