PVH (NYSE:PVH) Shares Gap Up on Earnings Beat

Shares of PVH Corp. (NYSE:PVH) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $64.64, but opened at $75.14. PVH shares last traded at $75.79, with a volume of 1,246,998 shares changing hands.

The textile maker reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.08. PVH had a net margin of 8.13% and a return on equity of 13.66%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the firm posted $3.72 earnings per share. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year.

PVH Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend was Wednesday, March 5th. PVH’s dividend payout ratio is currently 1.22%.

Wall Street Analysts Forecast Growth

PVH has been the topic of a number of research reports. Guggenheim upped their target price on PVH from $105.00 to $125.00 and gave the company a “buy” rating in a report on Friday, December 6th. Barclays dropped their price objective on shares of PVH from $144.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. StockNews.com lowered shares of PVH from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Jefferies Financial Group dropped their price target on shares of PVH from $104.00 to $101.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Finally, Morgan Stanley cut their price objective on PVH from $103.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $109.07.

Hedge Funds Weigh In On PVH

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PVH. FMR LLC lifted its stake in shares of PVH by 0.4% in the fourth quarter. FMR LLC now owns 6,826,021 shares of the textile maker’s stock worth $721,852,000 after buying an additional 29,578 shares during the last quarter. Pacer Advisors Inc. raised its holdings in PVH by 2.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,742,436 shares of the textile maker’s stock worth $184,263,000 after acquiring an additional 36,719 shares during the period. LSV Asset Management lifted its position in PVH by 1.3% during the 4th quarter. LSV Asset Management now owns 1,199,238 shares of the textile maker’s stock worth $126,819,000 after acquiring an additional 15,900 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in PVH by 22.9% during the fourth quarter. Bank of New York Mellon Corp now owns 774,010 shares of the textile maker’s stock valued at $81,852,000 after acquiring an additional 144,260 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of PVH by 179,164.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 760,080 shares of the textile maker’s stock valued at $79,705,000 after purchasing an additional 759,656 shares during the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

PVH Stock Up 18.0 %

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.69. The firm has a market capitalization of $4.24 billion, a P/E ratio of 6.21, a price-to-earnings-growth ratio of 0.77 and a beta of 2.10. The business has a 50 day moving average price of $75.95 and a 200 day moving average price of $92.59.

PVH Company Profile

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.