PVH Corp. (NYSE:PVH) has garnered an average rating of “Hold” from seventeen brokerages currently covering the company, according to MarketBeat.com. This consensus reflects a mix of sentiment, with nine analysts assigning a hold rating while eight have issued buy ratings. The average price target over the next twelve months stands at approximately $89.73.
Several financial firms recently shared their insights on PVH. BTIG Research reaffirmed a “buy” rating with a price target of $100.00 in a research note published on December 5, 2023. Similarly, Needham & Company LLC reiterated a “buy” rating and set a price objective of $100.00 as well in their report on December 4, 2023. Conversely, Wall Street Zen downgraded PVH from a “buy” to a “hold” rating on December 13, 2023. Jefferies Financial Group adjusted their target price down from $85.00 to $80.00 while maintaining a “buy” rating on January 27, 2024. Lastly, JPMorgan Chase & Co. raised their price target from $82.00 to $83.00 and assigned a “neutral” rating in their note on December 4, 2023.
Institutional Investment Trends
Institutional investors have actively traded shares of PVH, contributing to shifts in market positioning. Dimensional Fund Advisors LP increased its stake by 1.8% in the fourth quarter, now owning 3,055,544 shares valued at approximately $204.79 million. Allspring Global Investments Holdings LLC raised its position by 7.0%, holding 2,218,143 shares worth about $150.43 million after acquiring an additional 145,430 shares.
LSV Asset Management also expanded its holdings by 8.4%, now owning 2,127,646 shares valued at around $142.60 million. Meanwhile, American Century Companies Inc. boosted its stake by 19.9% in the third quarter, bringing its total to 1,270,040 shares worth approximately $106.39 million. Barclays PLC significantly increased its holdings by 68.4%, now owning 1,197,009 shares valued at about $100.27 million. Overall, institutional investors control 97.25% of PVH’s stock, indicating strong confidence in the company.
Current Stock Performance and Dividend Announcement
As of Monday, PVH shares opened at $64.95, reflecting a 1.1% decrease from previous trading. The stock’s 50-day simple moving average is $66.27, while the 200-day simple moving average stands at $75.40. PVH has a 52-week low of $59.28 and a 52-week high of $89.79. The company has a market capitalization of approximately $2.97 billion, a price-to-earnings (P/E) ratio of 9.74, and a beta of 1.67.
On the dividend front, PVH has announced a quarterly dividend of $0.0375 per share, scheduled for payment on March 25, 2024. Shareholders of record on March 4, 2024 will be eligible for this dividend, which translates to an annualized dividend of $0.15 and a yield of 0.2%. The company’s current dividend payout ratio (DPR) is 2.25%.
Established as a significant player in the global apparel market, PVH Corp. is recognized for its diverse portfolio, including well-known brands such as Calvin Klein and Tommy Hilfiger. The company is engaged in the design, marketing, and distribution of clothing and accessories across various categories, demonstrating a comprehensive approach to the apparel industry.
