Bank of America Cuts PVH (NYSE:PVH) Price Target to $76.00

PVH (NYSE:PVH) had its price objective decreased by Bank of America from $86.00 to $76.00 in a research note issued to investors on Friday,Benzinga reports. Bank of America currently has a neutral rating on the textile maker’s stock.

Several other analysts have also recently weighed in on PVH. Barclays decreased their price objective on shares of PVH from $103.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company reduced their target price on PVH from $100.00 to $80.00 and set an “equal weight” rating on the stock in a report on Thursday. Evercore ISI decreased their price target on PVH from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday. BMO Capital Markets cut their price objective on PVH from $93.00 to $84.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group reduced their price objective on PVH from $128.00 to $109.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.53.

PVH Stock Performance

Shares of NYSE:PVH opened at $65.46 on Friday. 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 business’s fifty day moving average price is $74.68 and its two-hundred day moving average price is $84.35. PVH has a fifty-two week low of $59.28 and a fifty-two week high of $120.93. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 5.33, a price-to-earnings-growth ratio of 0.77 and a beta of 1.89.

PVH (NYSE:PVH) last issued its earnings results on Wednesday, June 4th. The textile maker reported $2.30 EPS for the quarter, beating the consensus estimate of $2.24 by $0.06. PVH had a net margin of 8.13% and a return on equity of 13.66%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the company earned $2.45 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, analysts predict that PVH will post 11.67 EPS for the current fiscal year.

PVH Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be given a $0.0375 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.15 dividend on an annualized basis and a yield of 0.23%. PVH’s payout ratio is 1.42%.

Institutional Investors Weigh In On PVH

Institutional investors and hedge funds have recently made changes to their positions in the company. First Hawaiian Bank boosted its holdings in PVH by 4.0% in the first quarter. First Hawaiian Bank now owns 5,386 shares of the textile maker’s stock valued at $348,000 after acquiring an additional 205 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in PVH by 9.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,847 shares of the textile maker’s stock worth $22,873,000 after purchasing an additional 30,077 shares during the last quarter. Optimize Financial Inc lifted its position in PVH by 82.9% during the 1st quarter. Optimize Financial Inc now owns 10,099 shares of the textile maker’s stock valued at $653,000 after purchasing an additional 4,576 shares during the period. United Services Automobile Association bought a new position in shares of PVH in the 1st quarter valued at about $240,000. Finally, Caxton Associates LLP bought a new position in shares of PVH in the 1st quarter valued at about $226,000. 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.