PVH (NYSE:PVH) Shares Gap Down to $109.43

PVH Corp. (NYSE:PVH) shares gapped down before the market opened on Thursday . The stock had previously closed at $109.43, but opened at $106.95. PVH shares last traded at $108.03, with a volume of 32,708 shares.

Analyst Upgrades and Downgrades

Several brokerages have commented on PVH. Guggenheim upped their target price on shares of PVH from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $140.00 target price on shares of PVH in a research note on Thursday, June 6th. StockNews.com raised shares of PVH from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 21st. UBS Group upped their target price on shares of PVH from $158.00 to $159.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, Citigroup lowered their target price on shares of PVH from $139.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, PVH currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.81.

PVH Stock Down 2.0 %

The firm has a market cap of $5.99 billion, a P/E ratio of 9.68, a price-to-earnings-growth ratio of 0.87 and a beta of 2.15. The stock’s 50 day simple moving average is $114.23 and its 200 day simple moving average is $120.63. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 1.55.

PVH (NYSE:PVH) last issued 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 company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.93 billion. PVH had a net margin of 7.53% and a return on equity of 13.14%. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.14 EPS. Research analysts anticipate that PVH Corp. will post 11.26 EPS for the current year.

PVH Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th were issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Wednesday, June 5th. PVH’s dividend payout ratio (DPR) is currently 1.33%.

PVH declared that its Board of Directors has authorized a share buyback program on Monday, April 1st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the textile maker to purchase up to 24% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP James Holmes sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $108.39, for a total value of $325,170.00. Following the sale, the executive vice president now directly 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 available at this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On PVH

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blair William & Co. IL increased its position in shares of PVH by 2.9% in the first quarter. Blair William & Co. IL now owns 3,311 shares of the textile maker’s stock worth $466,000 after purchasing an additional 92 shares during the last quarter. State of Michigan Retirement System increased its position in shares of PVH by 0.7% in the first quarter. State of Michigan Retirement System now owns 14,600 shares of the textile maker’s stock worth $2,053,000 after purchasing an additional 100 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of PVH by 26.8% in the fourth quarter. Lindbrook Capital LLC now owns 521 shares of the textile maker’s stock worth $64,000 after purchasing an additional 110 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of PVH by 15.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 810 shares of the textile maker’s stock worth $99,000 after purchasing an additional 110 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in PVH by 93.5% in the first quarter. Global Retirement Partners LLC now owns 238 shares of the textile maker’s stock worth $33,000 after buying an additional 115 shares in the last quarter. 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.