PVH Corp. (PVH) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of PVH Corp. (NYSE:PVH) from a buy rating to a hold rating in a research report report published on Monday.
According to Zacks, “PVH Corp. has outperformed the industry year to date driven by its superb earnings history and brand strength. The company posted better-than-expected earnings and sales results for second-quarter fiscal 2017. While sales marked its fourth consecutive beat, earnings retained its positive surprise trend for the 13th straight time. Results continued to gain from solid momentum at its Calvin Klein and Tommy Hilfiger brands, particularly in the international regions. Further, the company raised earnings outlook for fiscal 2017. However, concerns regarding the volatile macroeconomic and geopolitical environment remain. While currency rates improved in second quarter, currency headwinds are expected to hurt fiscal 2017 earnings by 20 cents per share. Apart from this, a volatile retail scenario and greater marketing costs may hurt performance. Nonetheless, the company’s efforts to keep pace with the evolving consumer trends bode well.”
Other equities research analysts have also recently issued reports about the stock. ValuEngine raised shares of PVH Corp. from a hold rating to a buy rating in a research report on Tuesday, June 27th. UBS AG reissued a buy rating and issued a $128.00 target price (up from $120.00) on shares of PVH Corp. in a research report on Monday, June 26th. Piper Jaffray Companies set a $120.00 target price on shares of PVH Corp. and gave the stock a buy rating in a research report on Thursday, May 25th. B. Riley reissued a buy rating and issued a $128.00 target price on shares of PVH Corp. in a research report on Tuesday, May 30th. Finally, Citigroup Inc. raised their target price on shares of PVH Corp. from $115.00 to $125.00 and gave the stock a buy rating in a research report on Tuesday, May 30th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $137.00.
PVH Corp. (PVH) traded up 1.44% during trading on Monday, reaching $128.35. 400,176 shares of the company’s stock traded hands. The firm has a 50 day moving average of $121.08 and a 200 day moving average of $106.29. PVH Corp. has a 1-year low of $84.53 and a 1-year high of $130.25. The firm has a market capitalization of $9.99 billion, a PE ratio of 24.48 and a beta of 0.46.
PVH Corp. (NYSE:PVH) last released its earnings results on Wednesday, August 23rd. The textile maker reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.04. PVH Corp. had a net margin of 4.96% and a return on equity of 11.67%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the company earned $1.47 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that PVH Corp. will post $7.71 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Thursday, August 24th will be given a dividend of $0.038 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.12%. PVH Corp.’s payout ratio is currently 2.87%.
In related news, EVP David F. Kozel sold 8,867 shares of PVH Corp. stock in a transaction on Friday, August 25th. The shares were sold at an average price of $125.19, for a total value of $1,110,059.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Francis K. Duane sold 24,000 shares of PVH Corp. stock in a transaction on Friday, August 25th. The stock was sold at an average price of $126.86, for a total transaction of $3,044,640.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,997 shares of company stock worth $10,474,786. Corporate insiders own 1.50% of the company’s stock.
Several large investors have recently modified their holdings of PVH. Advisors Asset Management Inc. increased its stake in shares of PVH Corp. by 28.2% in the second quarter. Advisors Asset Management Inc. now owns 927 shares of the textile maker’s stock worth $106,000 after buying an additional 204 shares during the last quarter. FNY Partners Fund LP increased its stake in shares of PVH Corp. by 53.3% in the first quarter. FNY Partners Fund LP now owns 1,150 shares of the textile maker’s stock worth $118,000 after buying an additional 400 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of PVH Corp. by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,334 shares of the textile maker’s stock worth $138,000 after buying an additional 116 shares during the last quarter. Fiduciary Trust Co. bought a new stake in shares of PVH Corp. in the second quarter worth $138,000. Finally, NINE MASTS CAPITAL Ltd bought a new stake in shares of PVH Corp. in the first quarter worth $155,000. Institutional investors and hedge funds own 94.73% of the company’s stock.
PVH Corp. Company Profile
PVH Corp. is an apparel company. The Company operates through three segments: Calvin Klein, which consists of the Calvin Klein North America and Calvin Klein International segments; Tommy Hilfiger, which consists of the Tommy Hilfiger North America and Tommy Hilfiger International segments, and Heritage Brands, which consists of the Heritage Brands Wholesale and Heritage Brands Retail segments.
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