Morgan Stanley Cuts PVH (NYSE:PVH) Price Target to $64.00

PVH (NYSE:PVH) had its price target decreased by Morgan Stanley from $86.00 to $64.00 in a report published on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the textile maker’s stock.

Other analysts have also issued research reports about the company. Barclays dropped their target price on PVH from $103.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. BMO Capital Markets dropped their price objective on PVH from $93.00 to $84.00 and set a “market perform” rating on the stock in a research note on Thursday. Cowen restated a “buy” rating on shares of PVH in a report on Friday. The Goldman Sachs Group dropped their price target on shares of PVH from $128.00 to $109.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price target on shares of PVH in a research note on Thursday. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.53.

PVH Price Performance

NYSE PVH opened at $65.46 on Friday. The firm’s 50 day moving average is $74.68 and its 200-day moving average is $84.35. The company has a quick ratio of 0.69, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $3.14 billion, a PE ratio of 5.33, a price-to-earnings-growth ratio of 0.77 and a beta of 1.89. PVH has a 12-month low of $59.28 and a 12-month high of $120.93.

PVH (NYSE:PVH) last issued its quarterly earnings results on Wednesday, June 4th. The textile maker reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.06. PVH had a net margin of 8.13% and a return on equity of 13.66%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the business earned $2.45 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that PVH will post 11.67 earnings per share for the current fiscal year.

PVH Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Wednesday, June 4th. PVH’s payout ratio is 1.42%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Barclays PLC boosted its holdings in shares of PVH by 71.3% during the third quarter. Barclays PLC now owns 60,495 shares of the textile maker’s stock worth $6,097,000 after acquiring an additional 25,174 shares during the period. Empowered Funds LLC increased its stake in shares of PVH by 947.1% during the fourth quarter. Empowered Funds LLC now owns 79,163 shares of the textile maker’s stock worth $8,371,000 after purchasing an additional 71,603 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of PVH by 179,164.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 760,080 shares of the textile maker’s stock worth $79,705,000 after purchasing an additional 759,656 shares during the period. Stanley Laman Group Ltd. acquired a new stake in PVH during the 4th quarter worth approximately $2,330,000. Finally, Vontobel Holding Ltd. boosted its stake in PVH by 76.6% in the 4th quarter. Vontobel Holding Ltd. now owns 4,341 shares of the textile maker’s stock valued at $459,000 after purchasing an additional 1,883 shares during the period. 97.25% of the stock is owned by institutional investors.

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.