Vetr cut shares of Ralph Lauren Corp. (NYSE:RL) from a hold rating to a sell rating in a report published on Monday. The brokerage currently has $99.66 price target on the stock.
RL has been the topic of a number of other research reports. Deutsche Bank AG reiterated a hold rating and set a $95.00 target price (up previously from $85.00) on shares of Ralph Lauren Corp. in a research report on Wednesday, August 10th. Piper Jaffray Cos. reiterated a hold rating on shares of Ralph Lauren Corp. in a research report on Monday, June 13th. Goldman Sachs Group Inc. lifted their target price on Ralph Lauren Corp. from $113.00 to $120.00 and gave the stock a buy rating in a research report on Thursday, August 11th. Bank of America Corp. set a $110.00 target price on Ralph Lauren Corp. and gave the stock a hold rating in a research report on Thursday, August 11th. Finally, Guggenheim assumed coverage on Ralph Lauren Corp. in a research report on Friday, September 30th. They set a neutral rating on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $110.63.
Ralph Lauren Corp. (NYSE:RL) traded up 0.12% during trading on Monday, reaching $103.75. The company had a trading volume of 35,108 shares. The firm has a 50-day moving average of $102.06 and a 200-day moving average of $96.86. Ralph Lauren Corp. has a 1-year low of $82.15 and a 1-year high of $137.38. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 28.35 and a beta of 1.17.
Ralph Lauren Corp. (NYSE:RL) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.17. Ralph Lauren Corp. had a return on equity of 14.50% and a net margin of 4.22%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm earned $1.09 earnings per share. Ralph Lauren Corp.’s quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts anticipate that Ralph Lauren Corp. will post $5.44 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.00 annualized dividend and a dividend yield of 1.93%. Ralph Lauren Corp.’s dividend payout ratio is currently 55.25%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its position in shares of Ralph Lauren Corp. by 8.3% in the third quarter. BNP Paribas Arbitrage SA now owns 85,239 shares of the company’s stock valued at $8,621,000 after buying an additional 6,551 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Ralph Lauren Corp. during the second quarter valued at $206,000. Kentucky Retirement Systems acquired a new position in shares of Ralph Lauren Corp. during the second quarter valued at $435,000. Mason Street Advisors LLC acquired a new position in shares of Ralph Lauren Corp. during the second quarter valued at $688,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Ralph Lauren Corp. by 154.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,044 shares of the company’s stock valued at $183,000 after buying an additional 1,240 shares during the period. Institutional investors own 63.74% of the company’s stock.
Ralph Lauren Corp. Company Profile
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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