PVH (NYSE:PVH) Hits New 1-Year Low – Here’s What Happened

Shares of PVH Corp. (NYSE:PVH) reached a new 52-week low during trading on Friday . The stock traded as low as $88.60 and last traded at $92.15, with a volume of 2652288 shares. The stock had previously closed at $99.01.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PVH. Guggenheim boosted their price objective on shares of PVH from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Telsey Advisory Group restated an “outperform” rating and set a $130.00 price target on shares of PVH in a research report on Wednesday, December 4th. Bank of America downgraded PVH from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $130.00 to $107.00 in a report on Wednesday, October 2nd. Finally, Barclays boosted their target price on PVH from $142.00 to $144.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $128.00.

PVH Price Performance

The firm has a 50-day simple moving average of $105.01 and a 200-day simple moving average of $101.04. The firm has a market capitalization of $5.16 billion, a PE ratio of 7.55, a PEG ratio of 1.02 and a beta of 2.09. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 0.69.

PVH (NYSE:PVH) last announced its quarterly earnings data on Wednesday, December 4th. The textile maker reported $3.03 EPS for the quarter, beating the consensus estimate of $2.59 by $0.44. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.22 billion. PVH had a net margin of 8.13% and a return on equity of 13.66%. The company’s revenue was down 4.6% on a year-over-year basis. During the same period last year, the firm earned $2.90 EPS. As a group, equities analysts forecast that PVH Corp. will post 11.68 earnings per share for the current year.

PVH Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were paid a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Wednesday, November 27th. PVH’s payout ratio is 1.22%.

Insider Activity

In other news, EVP Mark D. Fischer sold 3,186 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $105.50, for a total transaction of $336,123.00. Following the sale, the executive vice president now directly owns 23,103 shares in the company, valued at approximately $2,437,366.50. This represents a 12.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On PVH

A number of hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC raised its position in shares of PVH by 63.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 272 shares of the textile maker’s stock worth $27,000 after acquiring an additional 106 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in PVH by 4.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,495 shares of the textile maker’s stock worth $264,000 after acquiring an additional 108 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of PVH by 78.5% during the fourth quarter. UMB Bank n.a. now owns 282 shares of the textile maker’s stock worth $30,000 after purchasing an additional 124 shares during the period. GAMMA Investing LLC boosted its holdings in shares of PVH by 36.0% in the 4th quarter. GAMMA Investing LLC now owns 487 shares of the textile maker’s stock valued at $52,000 after acquiring an additional 129 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in PVH by 116.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 424 shares of the textile maker’s stock worth $43,000 after purchasing an additional 228 shares during the period. 97.25% of the stock is currently owned by institutional investors.

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.