A number of other analysts have also recently weighed in on the company. Vetr raised Ralph Lauren Corp. from a buy rating to a strong-buy rating and set a $101.29 price objective for the company in a research report on Monday, June 27th. Miller Tabak cut Ralph Lauren Corp. from a buy rating to a hold rating and set a $115.00 price target for the company. in a report on Wednesday, June 8th. Deutsche Bank AG reissued a hold rating and issued a $95.00 price target (up from $85.00) on shares of Ralph Lauren Corp. in a report on Wednesday, August 10th. Bank of America Corp. set a $110.00 price target on Ralph Lauren Corp. and gave the company a hold rating in a report on Thursday, August 11th. Finally, Wells Fargo & Co. reissued a hold rating on shares of Ralph Lauren Corp. in a report on Wednesday, June 8th. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $109.72.
Ralph Lauren Corp. (NYSE:RL) opened at 97.36 on Tuesday. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 26.61 and a beta of 1.11. Ralph Lauren Corp. has a 1-year low of $82.15 and a 1-year high of $137.38. The firm has a 50-day moving average price of $103.50 and a 200 day moving average price of $96.62.
Ralph Lauren Corp. (NYSE:RL) last released its quarterly earnings results on Wednesday, August 10th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.53 billion. Ralph Lauren Corp. had a return on equity of 14.50% and a net margin of 4.22%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. On average, equities research analysts anticipate that Ralph Lauren Corp. will post $5.43 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Wednesday, September 28th. Ralph Lauren Corp.’s payout ratio is currently 55.25%.
A number of hedge funds and other institutional investors have recently modified their holdings of RL. Southeastern Asset Management Inc. TN bought a new position in shares of Ralph Lauren Corp. during the second quarter worth approximately $245,238,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Ralph Lauren Corp. during the second quarter worth approximately $106,337,000. Norges Bank bought a new position in shares of Ralph Lauren Corp. during the fourth quarter worth approximately $78,491,000. Capital Research Global Investors boosted its position in shares of Ralph Lauren Corp. by 18.6% in the second quarter. Capital Research Global Investors now owns 2,550,003 shares of the company’s stock worth $228,531,000 after buying an additional 400,003 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new position in shares of Ralph Lauren Corp. during the second quarter worth approximately $32,642,000. Hedge funds and other institutional investors own 63.74% of the company’s stock.
About Ralph Lauren Corp.
Ralph Lauren Corporation is engaged in the design, marketing and distribution of lifestyle products, including apparel, accessories, home furnishings and other licensed product categories. The Company operates through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.
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