PVH (NYSE:PVH) Shares Gap Up Following Analyst Upgrade

Shares of PVH Corp. (NYSE:PVH - Get Free Report) gapped up prior to trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $146.00 to $157.00. The stock had previously closed at $108.66, but opened at $112.77. JPMorgan Chase & Co. currently has an overweight rating on the stock. PVH shares last traded at $110.74, with a volume of 217,057 shares.

A number of other equities research analysts also recently weighed in on the stock. Bank of America cut their price target on shares of PVH from $156.00 to $122.00 and set a "buy" rating for the company in a report on Wednesday, April 3rd. Guggenheim upped their price target on shares of PVH from $120.00 to $140.00 and gave the company a "buy" rating in a report on Tuesday, April 2nd. The Goldman Sachs Group raised shares of PVH from a "neutral" rating to a "buy" rating and upped their price target for the company from $99.00 to $126.00 in a report on Tuesday, December 12th. Barclays cut their price target on shares of PVH from $157.00 to $149.00 and set an "overweight" rating for the company in a report on Thursday. Finally, Morgan Stanley cut their price target on shares of PVH from $134.00 to $110.00 and set an "equal weight" rating for the company in a report on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $126.73.

Insider Transactions at PVH

In other news, EVP Mark D. Fischer sold 3,500 shares of the stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $123.00, for a total value of $430,500.00. Following the completion of the sale, the executive vice president now directly owns 27,903 shares of the company's stock, valued at $3,432,069. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is owned by insiders.

Hedge Funds Weigh In On PVH

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC raised its position in PVH by 26.8% during the fourth quarter. Lindbrook Capital LLC now owns 521 shares of the textile maker's stock valued at $64,000 after acquiring an additional 110 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in PVH by 15.7% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 810 shares of the textile maker's stock valued at $99,000 after acquiring an additional 110 shares in the last quarter. Quadrant Capital Group LLC raised its position in PVH by 12.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,036 shares of the textile maker's stock valued at $127,000 after acquiring an additional 115 shares in the last quarter. Creative Planning grew its holdings in PVH by 2.6% during the third quarter. Creative Planning now owns 5,074 shares of the textile maker's stock valued at $388,000 after purchasing an additional 128 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in PVH by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 27,389 shares of the textile maker's stock valued at $2,096,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 97.25% of the company's stock.

PVH Stock Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.18 and a quick ratio of 0.66. The firm has a fifty day simple moving average of $129.54 and a 200 day simple moving average of $107.73. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 0.64 and a beta of 2.20.

PVH (NYSE:PVH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 2nd. The textile maker reported $3.72 EPS for the quarter, beating the consensus estimate of $3.51 by $0.21. PVH had a return on equity of 12.96% and a net margin of 7.20%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter last year, the company posted $2.38 earnings per share. The company's revenue for the quarter was up .0% compared to the same quarter last year. On average, sell-side analysts expect that PVH Corp. will post 10.86 earnings per share for the current fiscal year.

PVH Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were paid a $0.0375 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.15 annualized dividend and a dividend yield of 0.14%. PVH's payout ratio is 1.38%.

PVH announced that its Board of Directors has initiated a stock repurchase program on Monday, April 1st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the textile maker to buy up to 24% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

About PVH

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's, women's, and children's apparel and accessories, include branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, swimwear, swim-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage products, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, home bed and bath furnishings, small leather goods, and other products.