PVH (NYSE:PVH) Shares Gap Down to $109.43

PVH Corp. (NYSE:PVH)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $109.43, but opened at $106.95. PVH shares last traded at $108.03, with a volume of 32,708 shares.

Analysts Set New Price Targets

A number of research firms have weighed in on PVH. Jefferies Financial Group began coverage on shares of PVH in a research report on Tuesday, April 30th. They set a “hold” rating and a $115.00 price objective for the company. Wedbush restated an “outperform” rating and set a $128.00 price objective on shares of PVH in a research report on Wednesday, June 5th. StockNews.com upgraded shares of PVH from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 21st. TD Cowen upped their price objective on shares of PVH from $153.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Finally, Wells Fargo & Company upped their price objective on shares of PVH from $138.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, June 6th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.81.

PVH Price Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.55 and a quick ratio of 0.83. The stock’s fifty day moving average is $114.22 and its 200-day moving average is $120.50. The stock has a market cap of $5.91 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 0.83 and a beta of 2.15.

PVH (NYSE:PVH) last announced its quarterly earnings data on Tuesday, June 4th. The textile maker reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.31. PVH had a net margin of 7.53% and a return on equity of 13.14%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the prior year, the firm posted $2.14 earnings per share. PVH’s quarterly revenue was down 9.5% on a year-over-year basis. As a group, equities analysts anticipate that PVH Corp. will post 11.24 EPS for the current year.

PVH Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th were issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Wednesday, June 5th. PVH’s dividend payout ratio is currently 1.33%.

PVH declared that its Board of Directors has authorized a stock buyback program on Monday, April 1st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the textile maker to reacquire up to 24% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other PVH news, EVP James Holmes sold 3,000 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $108.39, for a total transaction of $325,170.00. Following the completion of the transaction, the executive vice president now owns 13,904 shares of the company’s stock, valued at $1,507,054.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PVH. Principal Financial Group Inc. boosted 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 buying an additional 519,316 shares during the period. Channing Capital Management LLC lifted its position in shares of PVH by 648.1% during the fourth quarter. Channing Capital Management LLC now owns 581,289 shares of the textile maker’s stock worth $70,987,000 after purchasing an additional 503,586 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of PVH during the fourth quarter worth about $45,911,000. Franklin Resources Inc. lifted its position in shares of PVH by 1,954.3% during the fourth quarter. Franklin Resources Inc. now owns 352,448 shares of the textile maker’s stock worth $43,041,000 after purchasing an additional 335,291 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of PVH by 711.4% during the fourth 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. 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.