PVH (NYSE:PVH) PT Raised to $101.00 at Piper Jaffray Companies

PVH (NYSE:PVH) had its price objective raised by Piper Jaffray Companies from $82.00 to $101.00 in a report published on Tuesday morning, The Fly reports. Piper Jaffray Companies currently has an overweight rating on the textile maker’s stock.

Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded PVH from a sell rating to a hold rating and set a $99.00 price objective for the company in a research note on Monday, July 1st. ValuEngine cut PVH from a sell rating to a strong sell rating in a research note on Wednesday, May 29th. Citigroup set a $81.00 price objective on PVH and gave the stock a hold rating in a research note on Friday, August 30th. Bank of America reduced their price objective on PVH from $115.00 to $93.00 and set a buy rating for the company in a research note on Thursday, August 29th. Finally, Telsey Advisory Group reduced their price objective on PVH from $119.00 to $100.00 and set an outperform rating for the company in a research note on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. PVH presently has a consensus rating of Buy and a consensus target price of $107.50.

Shares of NYSE PVH opened at $86.11 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 1.40. The company has a market cap of $6.38 billion, a PE ratio of 8.97, a P/E/G ratio of 0.90 and a beta of 1.43. The business has a 50-day simple moving average of $78.46 and a two-hundred day simple moving average of $99.59. PVH has a fifty-two week low of $67.41 and a fifty-two week high of $145.25.

PVH (NYSE:PVH) last issued its quarterly earnings results on Wednesday, August 28th. The textile maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.21. PVH had a return on equity of 12.64% and a net margin of 6.96%. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter last year, the company earned $2.18 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts predict that PVH will post 9.4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, August 30th will be given a dividend of $0.038 per share. This is a boost from PVH’s previous quarterly dividend of $0.04. This represents a $0.15 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Thursday, August 29th. PVH’s dividend payout ratio (DPR) is currently 1.56%.

In related news, Director Henry Nasella purchased 6,250 shares of PVH stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average cost of $80.37 per share, for a total transaction of $502,312.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Emanuel Chirico purchased 133,155 shares of PVH stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $74.99 per share, with a total value of $9,985,293.45. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in PVH. Vanguard Group Inc. increased its position in shares of PVH by 0.4% in the second quarter. Vanguard Group Inc. now owns 8,136,732 shares of the textile maker’s stock valued at $770,060,000 after buying an additional 29,061 shares in the last quarter. FMR LLC increased its position in shares of PVH by 13.9% in the first quarter. FMR LLC now owns 7,692,951 shares of the textile maker’s stock valued at $938,155,000 after buying an additional 936,855 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of PVH by 7.2% in the second quarter. JPMorgan Chase & Co. now owns 5,681,044 shares of the textile maker’s stock valued at $529,929,000 after buying an additional 383,485 shares in the last quarter. Pzena Investment Management LLC increased its position in shares of PVH by 54.3% in the second quarter. Pzena Investment Management LLC now owns 3,001,404 shares of the textile maker’s stock valued at $284,053,000 after buying an additional 1,055,649 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of PVH by 75.7% in the second quarter. Bank of New York Mellon Corp now owns 1,455,221 shares of the textile maker’s stock valued at $137,721,000 after buying an additional 627,188 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

About PVH

PVH Corp. operates as an apparel company in North America and internationally. The company operates through six segments: Calvin Klein North America, Calvin Klein International, Tommy Hilfiger North America, Tommy Hilfiger International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's and women's apparel and accessories, including branded dress shirts, dresses, suits, neckwear, sportswear, jeans wear, performance and intimate apparel, underwear, swimwear, swim products, handbags, luggage products, footwear, golf apparel, sleepwear and loungewear, fragrances, cosmetics, skincare products and toiletries, socks and tights, jewelry, watches, outerwear, small leather goods, and furnishings, as well as other related products.

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