Ralph Lauren (NYSE:RL) Price Target Raised to $450.00

Ralph Lauren (NYSE:RL) had its price target upped by Bank of America from $400.00 to $450.00 in a research note issued to investors on Thursday morning,Benzinga reports. Bank of America currently has a buy rating on the textile maker’s stock.

RL has been the subject of several other reports. Argus raised their price target on Ralph Lauren from $360.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Evercore set a $420.00 price objective on Ralph Lauren and gave the stock an “outperform” rating in a report on Friday, February 6th. UBS Group reiterated a “buy” rating on shares of Ralph Lauren in a research report on Tuesday, March 3rd. Weiss Ratings raised Ralph Lauren from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, April 13th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $435.00 target price on shares of Ralph Lauren in a research report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $399.19.

Ralph Lauren Trading Up 4.6%

Shares of Ralph Lauren stock opened at $386.78 on Thursday. The firm has a market cap of $23.41 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 1.30 and a beta of 1.46. Ralph Lauren has a 52-week low of $198.62 and a 52-week high of $389.15. The company’s 50-day simple moving average is $356.63 and its 200-day simple moving average is $350.29. The company has a quick ratio of 1.52, a current ratio of 2.10 and a debt-to-equity ratio of 0.50.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings data on Thursday, February 5th. The textile maker reported $6.22 EPS for the quarter, beating analysts’ consensus estimates of $5.80 by $0.42. Ralph Lauren had a net margin of 11.73% and a return on equity of 37.97%. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the firm earned $4.82 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Ralph Lauren will post 12.01 earnings per share for the current year.

Ralph Lauren Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 27th were paid a $0.9125 dividend. This represents a $3.65 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, March 27th. Ralph Lauren’s dividend payout ratio (DPR) is presently 24.85%.

Insider Transactions at Ralph Lauren

In other Ralph Lauren news, CEO Patrice Louvet sold 47,000 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $354.22, for a total transaction of $16,648,340.00. Following the sale, the chief executive officer directly owned 85,552 shares in the company, valued at approximately $30,304,229.44. The trade was a 35.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 38.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Orion Porfolio Solutions LLC boosted its position in shares of Ralph Lauren by 8,937.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock worth $264,225,000 after buying an additional 952,681 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in Ralph Lauren during the 3rd quarter valued at about $86,719,000. Invesco Ltd. raised its position in Ralph Lauren by 26.2% during the fourth quarter. Invesco Ltd. now owns 1,324,018 shares of the textile maker’s stock worth $468,186,000 after acquiring an additional 275,263 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Ralph Lauren by 40.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 895,017 shares of the textile maker’s stock worth $316,487,000 after acquiring an additional 255,511 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Ralph Lauren by 38.6% in the fourth quarter. AQR Capital Management LLC now owns 881,360 shares of the textile maker’s stock valued at $311,658,000 after purchasing an additional 245,242 shares in the last quarter. Institutional investors and hedge funds own 67.91% of the company’s stock.

Ralph Lauren Company Profile

Ralph Lauren Corporation (NYSE: RL) is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men’s neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren’s product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.