PVH (NYSE:PVH) Reaches New 12-Month Low – Here’s What Happened

PVH Corp. (NYSE:PVH)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $61.36 and last traded at $61.65, with a volume of 1376545 shares traded. The stock had previously closed at $65.98.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BMO Capital Markets lowered their price objective on PVH from $106.00 to $93.00 and set a “market perform” rating for the company in a research note on Tuesday, April 1st. Wells Fargo & Company downgraded shares of PVH from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $130.00 to $105.00 in a research report on Monday, February 3rd. Jefferies Financial Group cut their price target on shares of PVH from $101.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, April 2nd. UBS Group decreased their price objective on shares of PVH from $172.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Finally, Barclays upped their target price on shares of PVH from $98.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, April 3rd. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, PVH presently has an average rating of “Moderate Buy” and an average price target of $107.13.

PVH Price Performance

The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 4.91, a PEG ratio of 0.77 and a beta of 1.89. The company has a current ratio of 1.29, a quick ratio of 0.69 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $74.03 and a two-hundred day moving average price of $91.82.

PVH (NYSE:PVH) last issued its earnings results on Monday, March 31st. The textile maker reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.08. PVH had a return on equity of 13.66% and a net margin of 8.13%. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the company earned $3.72 earnings per share. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. As a group, research analysts forecast that PVH Corp. will post 11.67 EPS for the current year.

PVH Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend was Wednesday, March 5th. PVH’s payout ratio is 1.42%.

Institutional Investors Weigh In On PVH

Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in PVH by 179,164.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 760,080 shares of the textile maker’s stock worth $79,705,000 after buying an additional 759,656 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in PVH during the 4th quarter worth $53,373,000. Schroder Investment Management Group bought a new position in shares of PVH in the fourth quarter worth $38,035,000. AQR Capital Management LLC increased its holdings in shares of PVH by 128.6% during the fourth quarter. AQR Capital Management LLC now owns 566,513 shares of the textile maker’s stock valued at $59,909,000 after purchasing an additional 318,731 shares during the period. Finally, Channing Capital Management LLC raised its stake in shares of PVH by 87.0% during the fourth quarter. Channing Capital Management LLC now owns 680,991 shares of the textile maker’s stock valued at $72,015,000 after purchasing an additional 316,876 shares in the last quarter. Institutional investors and hedge funds own 97.25% of the company’s stock.

About PVH

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.