PVH (PVH) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of PVH (NYSE:PVH) from a buy rating to a hold rating in a research report sent to investors on Wednesday.
According to Zacks, “PVH Corp surpassed the industry in the past three months owing to the recently raised earnings view for fourth quarter and fiscal 2018. Further, the company boasts a positive earnings surprise trend, having surpassed estimates for the 18 straight quarters. Its top and bottom lines improved year over year in third quarter fiscal 2018, backed by strong momentum at Tommy Hilfiger and impressive growth at Heritage Brands. Notably, the company is witnessing robust growth at the international business, driven by solid performance in Europe and Asia. The company is enriching its digital experiences as well. The company’s efforts to keep pace with the evolving consumer trends and efficient brand management initiatives also remain impressive. However, soft performance at the Calvin Klein brand in the fiscal third quarter is slightly discouraging. Volatile geopolitical environment, stiff competition and tariff-related woes are other concerns.”
Several other analysts also recently issued reports on PVH. Nomura set a $128.00 target price on PVH and gave the company a hold rating in a research note on Monday, November 26th. Credit Suisse Group decreased their target price on PVH from $150.00 to $125.00 and set an outperform rating on the stock in a research note on Friday, November 30th. Deutsche Bank set a $171.00 price objective on PVH and gave the stock a buy rating in a research note on Tuesday, November 27th. Piper Jaffray Companies reduced their price objective on PVH from $177.00 to $175.00 and set a buy rating on the stock in a research note on Wednesday, November 21st. Finally, Guggenheim reaffirmed a buy rating and issued a $150.00 price objective on shares of PVH in a research note on Sunday, December 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. PVH presently has a consensus rating of Buy and an average target price of $147.30.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, February 28th will be paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Wednesday, February 27th. PVH’s payout ratio is 1.89%.
A number of large investors have recently added to or reduced their stakes in the business. Quantamental Technologies LLC bought a new position in shares of PVH during the 4th quarter valued at approximately $28,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of PVH during the 4th quarter valued at approximately $28,000. CSat Investment Advisory L.P. increased its position in shares of PVH by 146.7% during the 4th quarter. CSat Investment Advisory L.P. now owns 375 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 223 shares during the last quarter. Csenge Advisory Group bought a new position in shares of PVH during the 3rd quarter valued at approximately $75,000. Finally, ETF Managers Group LLC increased its position in shares of PVH by 18.7% during the 4th quarter. ETF Managers Group LLC now owns 882 shares of the textile maker’s stock valued at $82,000 after purchasing an additional 139 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.
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, eyewear and 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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