Bank of America Lowers PVH (NYSE:PVH) to Neutral

Bank of America cut shares of PVH (NYSE:PVH) from a buy rating to a neutral rating in a research report released on Wednesday, MarketBeat Ratings reports. Bank of America currently has $107.00 price objective on the textile maker’s stock, down from their previous price objective of $130.00.

A number of other equities research analysts have also recently issued reports on the company. Wedbush restated an outperform rating and issued a $128.00 price objective on shares of PVH in a research note on Wednesday, June 5th. Barclays dropped their price target on shares of PVH from $154.00 to $142.00 and set an overweight rating on the stock in a research note on Thursday, August 29th. Telsey Advisory Group lowered their target price on shares of PVH from $140.00 to $130.00 and set an outperform rating on the stock in a report on Thursday, August 29th. TD Cowen cut their price target on PVH from $149.00 to $135.00 and set a buy rating for the company in a report on Thursday, August 29th. Finally, Morgan Stanley decreased their price objective on PVH from $120.00 to $100.00 and set an equal weight rating on the stock in a research note on Friday, September 6th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $128.87.

PVH Stock Up 3.2 %

PVH opened at $97.90 on Wednesday. The company’s 50-day moving average price is $97.59 and its two-hundred day moving average price is $107.94. The company has a quick ratio of 0.66, a current ratio of 1.24 and a debt-to-equity ratio of 0.32. PVH has a twelve month low of $69.27 and a twelve month high of $141.15. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.77 and a beta of 2.11.

PVH (NYSE:PVH) last announced its quarterly earnings data on Tuesday, August 27th. The textile maker reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.72. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.07 billion. PVH had a return on equity of 13.94% and a net margin of 8.37%. PVH’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.98 earnings per share. As a group, equities analysts expect that PVH will post 11.59 earnings per share for the current year.

PVH Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were paid a $0.0375 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.15 dividend on an annualized basis and a yield of 0.15%. PVH’s dividend payout ratio is presently 1.33%.

Institutional Trading of PVH

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its position in PVH by 13,275.0% in the second quarter. Pacer Advisors Inc. now owns 1,222,207 shares of the textile maker’s stock worth $129,395,000 after acquiring an additional 1,213,069 shares in the last quarter. Principal Financial Group Inc. lifted its stake in PVH by 234.1% during the first quarter. Principal Financial Group Inc. now owns 741,151 shares of the textile maker’s stock worth $104,213,000 after purchasing an additional 519,316 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of PVH by 711.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 341,506 shares of the textile maker’s stock worth $41,705,000 after purchasing an additional 299,418 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of PVH by 14.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,320,471 shares of the textile maker’s stock valued at $245,668,000 after purchasing an additional 296,040 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of PVH by 6,471.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 289,139 shares of the textile maker’s stock valued at $30,611,000 after buying an additional 284,739 shares in the last quarter. 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.