Ralph Lauren (NYSE:RL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ralph Lauren (NYSE:RL) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

A number of other analysts also recently weighed in on the company. UBS Group increased their price target on Ralph Lauren from $520.00 to $521.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Raymond James Financial reissued an “outperform” rating and issued a $425.00 price objective on shares of Ralph Lauren in a research note on Friday, August 7th. Needham & Company LLC upped their target price on Ralph Lauren from $405.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Telsey Advisory Group raised their target price on Ralph Lauren from $460.00 to $470.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company lifted their target price on Ralph Lauren from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $449.79.

Ralph Lauren Stock Up 6.0%

Shares of NYSE RL opened at $399.27 on Friday. The company has a market capitalization of $23.79 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 1.86 and a beta of 1.30. Ralph Lauren has a 52-week low of $317.23 and a 52-week high of $421.60. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 2.04. The company’s 50 day moving average price is $364.87 and its 200-day moving average price is $367.90.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings data on Thursday, November 5th. The textile maker reported $4.64 EPS for the quarter, beating analysts’ consensus estimates of $4.26 by $0.38. Ralph Lauren had a net margin of 11.76% and a return on equity of 39.10%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the firm posted $3.79 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts forecast that Ralph Lauren will post 19.01 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Friday, September 25th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, September 25th. Ralph Lauren’s dividend payout ratio (DPR) is presently 22.96%.

Hedge Funds Weigh In On Ralph Lauren

Several institutional investors have recently made changes to their positions in RL. Allspring Global Investments Holdings LLC boosted its position in shares of Ralph Lauren by 11.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,930 shares of the textile maker’s stock worth $700,000 after purchasing an additional 202 shares in the last quarter. Kestra Private Wealth Services LLC increased its position in Ralph Lauren by 31.0% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 1,144 shares of the textile maker’s stock valued at $406,000 after buying an additional 271 shares in the last quarter. Covestor Ltd increased its position in Ralph Lauren by 42.8% in the 3rd quarter. Covestor Ltd now owns 287 shares of the textile maker’s stock valued at $102,000 after buying an additional 86 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Ralph Lauren by 52.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,271 shares of the textile maker’s stock valued at $1,161,000 after buying an additional 1,132 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Ralph Lauren during the 3rd quarter worth approximately $5,213,000. Institutional investors and hedge funds own 67.91% of the company’s stock.

Ralph Lauren Company Profile

Ralph Lauren Corporation is a global designer, marketer and distributor of premium lifestyle products. Founded by Ralph Lauren in 1967 with a collection of men’s ties, the company has grown into a fashion and lifestyle business built around its namesake brand and Polo Ralph Lauren.

Its products include apparel, footwear, accessories, fragrances and home furnishings. The company sells through department stores and other wholesale partners, as well as its own retail stores and e-commerce channels, and also licenses its brands for selected products and services.

Ralph Lauren serves customers in North America, Europe and Asia, among other markets.