PVH (NYSE:PVH) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of PVH (NYSE:PVH) from an overweight rating to a neutral rating in a report published on Friday, MarketBeat.com reports. The firm currently has $113.00 target price on the textile maker’s stock, down from their previous target price of $149.00.

PVH has been the subject of several other reports. Bank of America cut shares of PVH from a “buy” rating to a “neutral” rating and cut their price target for the stock from $130.00 to $107.00 in a report on Wednesday, October 2nd. Guggenheim increased their price objective on PVH from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Telsey Advisory Group restated an “outperform” rating and set a $130.00 target price on shares of PVH in a research report on Wednesday, December 4th. Morgan Stanley cut their price target on shares of PVH from $103.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Barclays boosted their price objective on shares of PVH from $142.00 to $144.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $124.73.

PVH Price Performance

Shares of NYSE:PVH opened at $90.21 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.69 and a current ratio of 1.29. PVH has a one year low of $88.60 and a one year high of $141.15. The company has a 50-day simple moving average of $104.18 and a 200-day simple moving average of $100.71. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 7.35, a PEG ratio of 0.98 and a beta of 2.09.

PVH (NYSE:PVH) last released its earnings results on Wednesday, December 4th. The textile maker reported $3.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.44. PVH had a return on equity of 13.66% and a net margin of 8.13%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the company posted $2.90 earnings per share. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, analysts predict that PVH will post 11.67 EPS for the current year.

PVH Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were given a $0.0375 dividend. This represents a $0.15 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend was Wednesday, November 27th. PVH’s payout ratio is currently 1.22%.

Insider Buying and Selling

In other PVH 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 value of $336,123.00. Following the completion of the transaction, the executive vice president now directly owns 23,103 shares of the company’s stock, valued at $2,437,366.50. This represents a 12.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PVH

Large investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its holdings in shares of PVH by 63.9% during the third quarter. Venturi Wealth Management LLC now owns 272 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 106 shares during the last quarter. UMB Bank n.a. boosted 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 valued at $30,000 after acquiring an additional 124 shares during the period. Covestor Ltd grew its position in shares of PVH by 270.6% during the third quarter. Covestor Ltd now owns 404 shares of the textile maker’s stock worth $41,000 after acquiring an additional 295 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in PVH by 116.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 424 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 228 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of PVH by 36.0% during the fourth quarter. GAMMA Investing LLC now owns 487 shares of the textile maker’s stock valued at $52,000 after buying an additional 129 shares during the last quarter. 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.