Stock Buyback Plan Initiated by PVH (NYSE:PVH)

PVH (NYSE:PVHGet Free Report) announced that its board has authorized a stock buyback program on Monday, April 1st, RTT News reports. The company plans to buyback $2.00 billion in outstanding shares. This buyback authorization permits the textile maker to repurchase up to 24% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

PVH Stock Down 0.7 %

PVH stock opened at $139.66 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $8.33 billion, a PE ratio of 16.47, a PEG ratio of 0.75 and a beta of 2.20. The firm’s fifty day moving average is $130.88 and its 200 day moving average is $106.66. PVH has a 12-month low of $69.27 and a 12-month high of $141.15.

PVH (NYSE:PVHGet Free Report) last released its quarterly earnings data on Monday, April 1st. The textile maker reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.23. PVH had a net margin of 5.76% and a return on equity of 11.63%. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the prior year, the firm earned $2.38 EPS. The business’s revenue was up .0% on a year-over-year basis. As a group, sell-side analysts predict that PVH will post 10.48 EPS for the current fiscal year.

PVH Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were paid a $0.0375 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.15 annualized dividend and a dividend yield of 0.11%. PVH’s payout ratio is 1.77%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Telsey Advisory Group lifted their target price on shares of PVH from $122.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. The Goldman Sachs Group upgraded shares of PVH from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $99.00 to $126.00 in a report on Tuesday, December 12th. UBS Group increased their price objective on PVH from $125.00 to $158.00 and gave the company a “buy” rating in a report on Monday, December 4th. Wells Fargo & Company lifted their target price on PVH from $110.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, December 11th. Finally, TD Cowen increased their price target on PVH from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.93.

Get Our Latest Stock Report on PVH

Insider Activity

In related news, EVP Mark D. Fischer sold 3,500 shares of the business’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $123.00, for a total transaction of $430,500.00. Following the transaction, the executive vice president now directly owns 27,903 shares in the company, valued at $3,432,069. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.78% of the stock is currently owned by corporate insiders.

About PVH

(Get Free Report)

PVH Corp. operates as an apparel company in the United States and internationally. The company operates through six segments: Tommy Hilfiger North America, Tommy Hilfiger International, Calvin Klein North America, Calvin Klein International, Heritage Brands Wholesale, and Heritage Brands Retail. It designs, markets, and retails men's, women's, and children's apparel and accessories, include branded dress shirts, neckwear, sportswear, jeans wear, performance apparel, intimate apparel, underwear, swimwear, swim-related products, handbags, accessories, footwear, outerwear, home furnishings, luggage products, sleepwear, loungewear, hats, scarves, gloves, socks, watches and jewelry, eyeglasses and non-ophthalmic sunglasses, fragrance, home bed and bath furnishings, small leather goods, and other products.

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