PVH (NYSE:PVH) Trading Down 6.6% – Here’s Why

PVH Corp. (NYSE:PVH)’s share price was down 6.6% during mid-day trading on Monday . The company traded as low as $83.64 and last traded at $83.6050. Approximately 182,180 shares traded hands during trading, a decline of 83% from the average daily volume of 1,074,364 shares. The stock had previously closed at $89.48.

Wall Street Analyst Weigh In

A number of research firms have commented on PVH. Wall Street Zen upgraded shares of PVH from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings raised shares of PVH from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday. UBS Group cut their target price on shares of PVH from $148.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Telsey Advisory Group restated a “market perform” rating and set a $74.00 price target on shares of PVH in a research report on Wednesday, April 1st. Finally, The Goldman Sachs Group raised their price target on PVH from $83.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, PVH presently has a consensus rating of “Hold” and a consensus target price of $88.93.

PVH Trading Down 6.7%

The company has a current ratio of 1.52, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. The stock has a market cap of $3.83 billion, a P/E ratio of 219.78, a price-to-earnings-growth ratio of 0.99 and a beta of 1.73. The business’s fifty day simple moving average is $77.17 and its 200 day simple moving average is $74.06.

PVH (NYSE:PVH) last announced its earnings results on Tuesday, March 31st. The textile maker reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.52. PVH had a net margin of 0.28% and a return on equity of 11.55%. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm posted $3.27 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. As a group, analysts expect that PVH Corp. will post 12.01 EPS for the current year.

PVH Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.0375 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.15 annualized dividend and a yield of 0.2%. PVH’s dividend payout ratio is currently 39.47%.

Institutional Investors Weigh In On PVH

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of PVH by 1.8% during 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 boosted its holdings in PVH by 2.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,262,489 shares of the textile maker’s stock valued at $173,216,000 after acquiring an additional 44,346 shares during the last quarter. LSV Asset Management boosted its holdings in PVH by 8.4% in the fourth quarter. LSV Asset Management now owns 2,127,646 shares of the textile maker’s stock valued at $142,595,000 after acquiring an additional 164,343 shares during the last quarter. American Century Companies Inc. increased its position in 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 purchasing an additional 210,885 shares during the period. Finally, Barclays PLC raised its holdings in PVH by 68.4% during the 3rd quarter. Barclays PLC now owns 1,197,009 shares of the textile maker’s stock worth $100,273,000 after purchasing an additional 486,210 shares during the last quarter. 97.25% of the stock is owned by institutional investors and hedge funds.

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.