Ralph Lauren Corp. (NYSE:RL) was upgraded by research analysts at Goldman Sachs Group Inc. from a “buy” rating to a “conviction-buy” rating in a research note issued on Friday. The firm presently has a $120.00 price objective on the stock. Goldman Sachs Group Inc.’s target price would indicate a potential upside of 15.80% from the company’s current price.
RL has been the subject of a number of other research reports. Deutsche Bank AG restated a “hold” rating and set a $95.00 price objective (up previously from $85.00) on shares of Ralph Lauren Corp. in a research report on Wednesday, August 10th. Vetr upgraded 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. Piper Jaffray Cos. restated a “hold” rating on shares of Ralph Lauren Corp. in a research report on Monday, June 13th. Bank of America Corp. set a $110.00 price objective on Ralph Lauren Corp. and gave the company a “hold” rating in a research report on Thursday, August 11th. Finally, Guggenheim began coverage on Ralph Lauren Corp. in a research report on Friday, September 30th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Ralph Lauren Corp. has a consensus rating of “Hold” and a consensus target price of $110.63.
Ralph Lauren Corp. (NYSE:RL) opened at 103.63 on Friday. The stock has a 50 day moving average price of $102.06 and a 200-day moving average price of $96.86. The stock has a market cap of $8.52 billion, a PE ratio of 28.32 and a beta of 1.17. Ralph Lauren Corp. has a 12 month low of $82.15 and a 12 month high of $137.38.
Ralph Lauren Corp. (NYSE:RL) last issued its earnings results on Wednesday, August 10th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.89 by $0.17. The company earned $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. Ralph Lauren Corp. had a return on equity of 14.50% and a net margin of 4.22%. The business’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 EPS. On average, analysts expect that Ralph Lauren Corp. will post $5.44 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Wednesday, September 28th. Ralph Lauren Corp.’s dividend payout ratio (DPR) is presently 55.25%.
Large investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Ralph Lauren Corp. by 9.2% in the first quarter. Wellington Management Group LLP now owns 2,036,266 shares of the company’s stock worth $196,010,000 after buying an additional 171,109 shares during the period. Strs Ohio raised its stake in shares of Ralph Lauren Corp. by 17.1% in the second quarter. Strs Ohio now owns 505,000 shares of the company’s stock worth $45,258,000 after buying an additional 73,830 shares during the period. Geode Capital Management LLC raised its stake in shares of Ralph Lauren Corp. by 3.8% in the first quarter. Geode Capital Management LLC now owns 498,550 shares of the company’s stock worth $47,896,000 after buying an additional 18,350 shares during the period. PGGM Investments raised its stake in shares of Ralph Lauren Corp. by 33.4% in the second quarter. PGGM Investments now owns 361,894 shares of the company’s stock worth $32,433,000 after buying an additional 90,566 shares during the period. Finally, Prudential PLC raised its stake in shares of Ralph Lauren Corp. by 30.2% in the first quarter. Prudential PLC now owns 72,869 shares of the company’s stock worth $7,014,000 after buying an additional 16,888 shares during the period. 63.74% of the stock is currently owned by institutional investors.
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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