Analysts at Jefferies Financial Group have initiated coverage of PVH Corp, awarding the company a “buy” rating and setting a target price of $85.00 per share. This announcement was made in a research report released on the morning of December 3, 2023. The textile manufacturer, known for its prominent brands, has garnered attention from several other research firms recently.
On November 25, UBS Group reaffirmed its “buy” rating for PVH, establishing a significantly higher target price of $148.00. In contrast, Citigroup lowered its price target from $83.00 to $80.00 while issuing a “neutral” rating. Similarly, Wells Fargo & Company reduced its price target from $88.00 to $85.00, maintaining an “equal weight” rating. Meanwhile, Telsey Advisory Group reaffirmed an “outperform” rating with a target of $95.00.
Overall, nine equity research analysts have rated PVH with a “buy” designation while another nine have given it a “hold” rating. According to data from MarketBeat, PVH currently holds an average rating of “Moderate Buy,” with a consensus price target of $91.93.
PVH’s Quarterly Earnings Exceed Expectations
PVH recently reported its quarterly earnings on December 3, 2023. The company achieved earnings per share (EPS) of $2.83, surpassing analysts’ expectations of $2.56 by $0.27. Revenue for the quarter reached $2.29 billion, slightly above the anticipated $2.28 billion. The firm recorded a return on equity of 11.44% and a net margin of 3.87%. Comparatively, revenue increased by 1.7% from the same period last year, although EPS was down from $3.03 in the prior year.
Looking ahead, PVH has set its Q4 2025 guidance at an EPS range of 3.200-3.350 and its FY 2025 guidance at 10.850-11.000 EPS. Analysts expect the company to post an EPS of 11.67 for the current year.
Dividend Announcement and Institutional Activity
In addition to its earnings report, PVH declared a quarterly dividend of $0.0375 per share, which was paid on December 17, 2023, to shareholders recorded on November 26, 2023. This dividend represents a yearly payout of $0.15 and yields 0.2%, with a payout ratio of 2.25%.
Recent reports indicate significant institutional activity surrounding PVH. Notably, Danske Bank A S acquired a new stake in the company worth $25,000 during the third quarter. Saranac Partners Ltd purchased shares valued at $30,000, while BNP Paribas Asset Management Holding S.A. invested $38,000 in the second quarter. Additionally, UMB Bank n.a. increased its stake in PVH by 63.3%, owning 619 shares worth $42,000 after acquiring an additional 240 shares. Hantz Financial Services Inc. also significantly raised its holdings by 1,284.4% in the same period, bringing its total to 623 shares valued at $43,000. Currently, institutional investors own 97.25% of PVH’s stock.
PVH Corp continues to solidify its position as a leader in the global apparel industry, known for its portfolio of iconic brands including Calvin Klein and Tommy Hilfiger. The company designs, markets, and distributes a wide range of clothing, accessories, and fragrances, operating across the entire value chain from product development to retail distribution.
