The Goldman Sachs Group Cuts PVH (NYSE:PVH) Price Target to $109.00

PVH (NYSE:PVH) had its price target lowered by The Goldman Sachs Group from $128.00 to $109.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the textile maker’s stock.

Several other research firms have also recently commented on PVH. Jefferies Financial Group decreased their target price on PVH from $104.00 to $101.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. StockNews.com cut PVH from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. cut PVH from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $149.00 to $113.00 in a research note on Friday, January 24th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $130.00 target price on shares of PVH in a research note on Wednesday, December 4th. Finally, Barclays decreased their target price on PVH from $144.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $118.07.

PVH Trading Up 1.6 %

Shares of PVH stock opened at $72.38 on Tuesday. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 5.89, a PEG ratio of 0.77 and a beta of 2.10. The stock has a 50-day moving average of $89.08 and a 200-day moving average of $96.76. The company has a current ratio of 1.29, a quick ratio of 0.69 and a debt-to-equity ratio of 0.31. PVH has a 1-year low of $68.80 and a 1-year high of $141.15.

PVH (NYSE:PVH) last issued its quarterly earnings results on Wednesday, December 4th. The textile maker reported $3.03 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.44. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.22 billion. PVH had a return on equity of 13.66% and a net margin of 8.13%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.90 earnings per share. On average, equities research analysts forecast that PVH will post 11.67 earnings per share for the current year.

PVH Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a $0.0375 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.21%. PVH’s dividend payout ratio is presently 1.22%.

Insider Activity

In other news, EVP Mark D. Fischer sold 3,186 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $105.50, for a total value of $336,123.00. Following the transaction, the executive vice president now owns 23,103 shares in the company, valued at $2,437,366.50. This trade represents a 12.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of PVH

A number of hedge funds have recently bought and sold shares of PVH. Allspring Global Investments Holdings LLC lifted its holdings in 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 period. Balyasny Asset Management L.P. bought a new stake in PVH during the fourth quarter worth $53,373,000. Pacer Advisors Inc. lifted its holdings in PVH by 39.6% during the third quarter. Pacer Advisors Inc. now owns 1,705,717 shares of the textile maker’s stock worth $171,987,000 after acquiring an additional 483,510 shares during the period. Schroder Investment Management Group bought a new stake in PVH during the fourth quarter worth $38,035,000. Finally, AQR Capital Management LLC lifted its holdings in PVH by 128.6% during the fourth quarter. AQR Capital Management LLC now owns 566,513 shares of the textile maker’s stock worth $59,909,000 after acquiring an additional 318,731 shares during the period. 97.25% of the stock is currently owned by institutional investors.

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.