PVH (NYSE:PVH) Sets New 52-Week High - Here's What Happened

Key Points

• PVH stock reached a new 52-week high, last trading around $93.44 on Friday with about 56,817 shares changing hands.
• Analyst sentiment is mixed — the consensus rating is a "Hold" with a $88.93 target, while individual targets range from about $74 to $107 (Jefferies cut to $80, Needham raised to $107 and Weiss downgraded to a sell).
• PVH beat expectations for the quarter, reporting $3.82 EPS vs. $3.30 estimated and $2.51B revenue (up 5.6% YoY); the company also pays a modest quarterly dividend (annualized yield ~0.2%).

PVH Corp. (NYSE:PVH - Get Free Report)'s stock price reached a new 52-week high on Friday . The company traded as high as $92.27 and last traded at $93.4430, with a volume of 56817 shares trading hands. The stock had previously closed at $89.47.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Jefferies Financial Group dropped their price objective on PVH from $85.00 to $80.00 and set a "buy" rating for the company in a research note on Tuesday, January 27th. BTIG Research restated a "buy" rating and set a $100.00 target price on shares of PVH in a report on Wednesday, April 1st. Needham & Company LLC upped their target price on PVH from $100.00 to $107.00 and gave the company a "buy" rating in a report on Wednesday, April 1st. Telsey Advisory Group restated a "market perform" rating and set a $74.00 target price on shares of PVH in a report on Wednesday, April 1st. Finally, Weiss Ratings downgraded PVH from a "hold (c-)" rating to a "sell (d)" rating in a report on Wednesday, April 1st. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $88.93.

PVH Stock Performance

The company has a quick ratio of 0.85, a current ratio of 1.52 and a debt-to-equity ratio of 0.48. The company has a market cap of $4.32 billion, a P/E ratio of 247.72, a P/E/G ratio of 0.82 and a beta of 1.61. The business has a fifty day moving average of $70.84 and a 200 day moving average of $73.23.

PVH (NYSE:PVH - Get Free Report) last announced its earnings results on Tuesday, March 31st. The textile maker reported $3.82 EPS for the quarter, beating analysts' consensus estimates of $3.30 by $0.52. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.43 billion. PVH had a return on equity of 11.55% and a net margin of 0.28%.The firm's revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.27 earnings per share. On average, equities analysts predict that PVH Corp. will post 11.67 EPS for the current year.

PVH Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were issued a $0.0375 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $0.15 dividend on an annualized basis and a yield of 0.2%. PVH's dividend payout ratio is 39.47%.

Hedge Funds Weigh In On PVH

A number of institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of PVH by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,055,544 shares of the textile maker's stock worth $204,786,000 after acquiring an additional 54,635 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of PVH by 7.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,218,143 shares of the textile maker's stock worth $150,434,000 after acquiring an additional 145,430 shares during the last quarter. LSV Asset Management grew its stake in shares of PVH by 8.4% in the fourth quarter. LSV Asset Management now owns 2,127,646 shares of the textile maker's stock worth $142,595,000 after acquiring an additional 164,343 shares during the last quarter. American Century Companies Inc. grew its stake in shares of PVH by 19.9% in the third quarter. American Century Companies Inc. now owns 1,270,040 shares of the textile maker's stock worth $106,391,000 after acquiring an additional 210,885 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of PVH by 68.4% in the third quarter. Barclays PLC now owns 1,197,009 shares of the textile maker's stock worth $100,273,000 after acquiring an additional 486,210 shares during the last quarter. Institutional investors own 97.25% of the company's stock.

PVH Company Profile

PVH Corp is a leading global apparel company known for its portfolio of iconic brands in the dress shirt, sportswear and lifestyle categories. The company designs, markets and distributes clothing, accessories and fragrances under both owned and licensed brands. PVH's core brand holdings include Calvin Klein and Tommy Hilfiger, complemented by a range of heritage labels such as Van Heusen, IZOD, ARROW, Warner's and Olga.

PVH's operations span the entire value chain from product design and development to manufacturing, marketing and distribution.

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