Jefferies Financial Group Begins Coverage on PVH (NYSE:PVH)

Jefferies Financial Group assumed coverage on shares of PVH (NYSE:PVH) in a research report report published on Tuesday morning, Marketbeat reports. The brokerage issued a hold rating and a $115.00 price objective on the textile maker’s stock.

Other equities research analysts have also issued reports about the stock. Bank of America decreased their target price on shares of PVH from $156.00 to $122.00 and set a buy rating on the stock in a research report on Wednesday, April 3rd. TD Cowen lifted their target price on shares of PVH from $150.00 to $160.00 and gave the stock an outperform rating in a research report on Wednesday, March 20th. Citigroup lowered their price target on shares of PVH from $139.00 to $120.00 and set a neutral rating on the stock in a research report on Wednesday, April 3rd. Telsey Advisory Group cut their price objective on PVH from $155.00 to $140.00 and set an outperform rating for the company in a research report on Tuesday, April 2nd. Finally, Wedbush upgraded PVH from a neutral rating to an outperform rating and increased their target price for the company from $113.00 to $128.00 in a report on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $128.50.

PVH Stock Performance

Shares of NYSE:PVH traded up $2.66 during midday trading on Tuesday, hitting $113.22. The stock had a trading volume of 519,353 shares, compared to its average volume of 963,200. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $6.53 billion, a PE ratio of 10.44, a P/E/G ratio of 1.05 and a beta of 2.24. PVH has a 1 year low of $69.27 and a 1 year high of $141.15. The stock has a 50 day moving average price of $123.32 and a two-hundred day moving average price of $111.70.

PVH (NYSE:PVH) last released its earnings results on Tuesday, April 2nd. The textile maker reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.21. PVH had a return on equity of 12.96% and a net margin of 7.20%. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the previous year, the firm posted $2.38 EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities analysts predict that PVH will post 10.92 earnings per share for the current fiscal year.

PVH declared that its Board of Directors has authorized a share repurchase plan on Monday, April 1st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the textile maker to purchase up to 24% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

PVH Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th will be issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Wednesday, June 5th. PVH’s payout ratio is currently 1.38%.

Insiders Place Their Bets

In related news, EVP James Holmes sold 3,000 shares of PVH stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $108.39, for a total transaction of $325,170.00. Following the transaction, the executive vice president now owns 13,904 shares in the company, valued at approximately $1,507,054.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.78% of the stock is owned by insiders.

Institutional Investors Weigh In On PVH

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in PVH by 26.9% in the third quarter. SG Americas Securities LLC now owns 2,304 shares of the textile maker’s stock worth $176,000 after acquiring an additional 488 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in PVH during the 3rd quarter valued at approximately $901,000. Xponance Inc. grew its stake in PVH by 5.7% during the 3rd quarter. Xponance Inc. now owns 8,131 shares of the textile maker’s stock worth $622,000 after buying an additional 441 shares during the last quarter. Mackenzie Financial Corp increased its position in PVH by 386.4% in the third quarter. Mackenzie Financial Corp now owns 31,869 shares of the textile maker’s stock worth $2,278,000 after buying an additional 25,317 shares during the period. Finally, Strs Ohio boosted its holdings in shares of PVH by 9.6% during the third quarter. Strs Ohio now owns 19,906 shares of the textile maker’s stock valued at $1,523,000 after acquiring an additional 1,740 shares during the period. Hedge funds and other institutional investors own 97.25% of the company’s stock.

About PVH

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.