Traders Buy High Volume of PVH Call Options (NYSE:PVH)

PVH Corp. (NYSE:PVH) saw unusually large options trading activity on Wednesday. Stock traders acquired 6,584 call options on the stock. This is an increase of approximately 348% compared to the average volume of 1,471 call options.

PVH Price Performance

PVH stock traded up $0.50 during trading on Wednesday, reaching $76.93. The company had a trading volume of 977,291 shares, compared to its average volume of 1,192,887. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.69 and a current ratio of 1.29. The firm’s 50-day simple moving average is $75.95 and its 200 day simple moving average is $92.59. The firm has a market capitalization of $4.28 billion, a PE ratio of 6.26, a price-to-earnings-growth ratio of 0.77 and a beta of 2.10. PVH has a 1-year low of $62.91 and a 1-year high of $124.68.

PVH (NYSE:PVH) last released its earnings results on Monday, March 31st. The textile maker reported $3.27 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.08. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.34 billion. PVH had a net margin of 8.13% and a return on equity of 13.66%. The company’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.72 earnings per share. As a group, equities research analysts anticipate that PVH will post 11.67 earnings per share for the current fiscal year.

PVH Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend was Wednesday, March 5th. PVH’s dividend payout ratio (DPR) is 1.22%.

Hedge Funds Weigh In On PVH

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in 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 during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of PVH in the fourth quarter valued at approximately $53,373,000. Schroder Investment Management Group acquired a new stake in shares of PVH in the fourth quarter valued at approximately $38,035,000. AQR Capital Management LLC lifted its position in PVH by 128.6% during the fourth quarter. AQR Capital Management LLC now owns 566,513 shares of the textile maker’s stock worth $59,909,000 after buying an additional 318,731 shares in the last quarter. Finally, Channing Capital Management LLC boosted its stake in PVH by 87.0% during the fourth quarter. Channing Capital Management LLC now owns 680,991 shares of the textile maker’s stock worth $72,015,000 after buying an additional 316,876 shares during the last quarter. 97.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PVH has been the topic of several research reports. Barclays cut their price target on shares of PVH from $144.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Wells Fargo & Company cut shares of PVH from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $130.00 to $105.00 in a report on Monday, February 3rd. Citigroup lowered their price target on shares of PVH from $123.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. Telsey Advisory Group reiterated an “outperform” rating and set a $90.00 price objective on shares of PVH in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut PVH from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $149.00 to $113.00 in a report on Friday, January 24th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PVH presently has an average rating of “Moderate Buy” and an average target price of $107.67.

PVH Company Profile

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.