Citigroup Cuts PVH (NYSE:PVH) Price Target to $72.00

PVH (NYSE:PVH) had its price objective decreased by Citigroup from $123.00 to $72.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the textile maker’s stock.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley lowered 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, January 21st. Barclays dropped their target price on PVH from $144.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Wells Fargo & Company downgraded PVH from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $130.00 to $105.00 in a report on Monday, February 3rd. JPMorgan Chase & Co. downgraded PVH from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $149.00 to $113.00 in a report on Friday, January 24th. Finally, UBS Group reduced their target price on PVH from $172.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $112.27.

PVH Price Performance

PVH stock opened at $66.43 on Tuesday. The stock has a 50-day simple moving average of $77.48 and a 200-day simple moving average of $93.14. The firm has a market cap of $3.70 billion, a P/E ratio of 5.41, a price-to-earnings-growth ratio of 0.77 and a beta of 2.10. 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 1 year low of $62.94 and a 1 year high of $141.15.

PVH Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given 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 was Wednesday, March 5th. PVH’s dividend payout ratio (DPR) is presently 1.22%.

Insider Activity at PVH

In related news, EVP Mark D. Fischer sold 3,186 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $105.50, for a total transaction of $336,123.00. Following the completion of the sale, the executive vice president now directly owns 23,103 shares in the company, valued at approximately $2,437,366.50. This trade represents a 12.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On PVH

Several large investors have recently modified their holdings of PVH. FMR LLC boosted its position in shares of PVH by 0.4% in the 4th quarter. FMR LLC now owns 6,826,021 shares of the textile maker’s stock valued at $721,852,000 after purchasing an additional 29,578 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of PVH by 2.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,742,436 shares of the textile maker’s stock worth $184,263,000 after buying an additional 36,719 shares during the period. LSV Asset Management increased its position in shares of PVH by 1.3% in the fourth quarter. LSV Asset Management now owns 1,199,238 shares of the textile maker’s stock worth $126,819,000 after acquiring an additional 15,900 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of PVH by 22.9% during the fourth quarter. Bank of New York Mellon Corp now owns 774,010 shares of the textile maker’s stock valued at $81,852,000 after acquiring an additional 144,260 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of 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 valued at $79,705,000 after acquiring an additional 759,656 shares in the last quarter. 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.