Ralph Lauren Corporation (NYSE:RL – Get Free Report)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $409.69 and last traded at $417.3680, with a volume of 586 shares traded. The stock had previously closed at $403.98.
Analysts Set New Price Targets
RL has been the subject of a number of research analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $450.00 target price on shares of Ralph Lauren in a research note on Friday, May 22nd. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Ralph Lauren in a report on Thursday, May 21st. UBS Group upped their price objective on Ralph Lauren from $480.00 to $511.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Bank of America increased their price objective on Ralph Lauren from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Wells Fargo & Company boosted their target price on Ralph Lauren from $400.00 to $415.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $428.29.
Get Our Latest Stock Analysis on RL
Ralph Lauren Stock Performance
Ralph Lauren (NYSE:RL – Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.28. Ralph Lauren had a net margin of 11.60% and a return on equity of 38.17%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the business posted $2.27 earnings per share. Ralph Lauren’s revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Ralph Lauren Corporation will post 18.33 EPS for the current year.
Ralph Lauren Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, June 26th. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.91. Ralph Lauren’s dividend payout ratio is presently 24.16%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. DV Trading LLC increased its holdings in Ralph Lauren by 1,291.3% in the first quarter. DV Trading LLC now owns 640 shares of the textile maker’s stock valued at $220,000 after purchasing an additional 594 shares during the last quarter. Edgestream Partners L.P. boosted its holdings in Ralph Lauren by 87.8% during the first quarter. Edgestream Partners L.P. now owns 32,959 shares of the textile maker’s stock worth $11,338,000 after buying an additional 15,412 shares during the last quarter. RBF Capital LLC boosted its holdings in Ralph Lauren by 14.5% during the first quarter. RBF Capital LLC now owns 11,453 shares of the textile maker’s stock worth $3,940,000 after buying an additional 1,453 shares during the last quarter. Kentucky Retirement Systems acquired a new position in shares of Ralph Lauren during the 1st quarter worth about $1,693,000. Finally, Oddo BHF Asset Management Sas grew its position in shares of Ralph Lauren by 2.5% during the 1st quarter. Oddo BHF Asset Management Sas now owns 6,613 shares of the textile maker’s stock worth $2,275,000 after buying an additional 159 shares during the period. 67.91% of the stock is currently owned by institutional investors.
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.
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