Ralph Lauren Corp (RL) Plans Dividend Increase – $0.69 Per Share

Ralph Lauren Corp (NYSE:RL) declared a quarterly dividend on Wednesday, May 15th, Wall Street Journal reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.6875 per share by the textile maker on Friday, July 12th. This represents a $2.75 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Thursday, June 27th. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.63.

Ralph Lauren has increased its dividend payment by an average of 4.9% per year over the last three years. Ralph Lauren has a dividend payout ratio of 41.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ralph Lauren to earn $7.62 per share next year, which means the company should continue to be able to cover its $2.75 annual dividend with an expected future payout ratio of 36.1%.

RL stock traded up $1.73 during midday trading on Wednesday, reaching $115.68. The company’s stock had a trading volume of 2,029,940 shares, compared to its average volume of 1,018,528. Ralph Lauren has a 52 week low of $95.63 and a 52 week high of $147.79. The stock has a market cap of $9.30 billion, a PE ratio of 19.18, a PEG ratio of 1.51 and a beta of 0.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.18 and a current ratio of 2.90.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings data on Tuesday, May 14th. The textile maker reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.14. Ralph Lauren had a net margin of 6.95% and a return on equity of 16.85%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the firm earned $0.90 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts predict that Ralph Lauren will post 7.04 earnings per share for the current fiscal year.

A number of equities analysts have recently weighed in on RL shares. Telsey Advisory Group raised shares of Ralph Lauren from a “market perform” rating to an “outperform” rating and set a $155.00 price target on the stock in a research report on Thursday, January 31st. Wells Fargo & Co set a $130.00 price objective on shares of Ralph Lauren and gave the stock a “hold” rating in a report on Tuesday, February 5th. Royal Bank of Canada upgraded shares of Ralph Lauren from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $135.00 to $145.00 in a report on Thursday, May 9th. Citigroup restated a “neutral” rating and set a $131.00 price objective on shares of Ralph Lauren in a report on Monday, March 18th. Finally, OTR Global upgraded shares of Ralph Lauren to a “positive” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $137.47.

In other Ralph Lauren news, Director Joyce F. Brown sold 2,000 shares of Ralph Lauren stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $126.00, for a total value of $252,000.00. Following the sale, the director now directly owns 7,278 shares in the company, valued at approximately $917,028. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 32.49% of the stock is currently owned by insiders.

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Ralph Lauren Company Profile

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. It offers apparel, including a range of men's, women's, and children's clothing accessories, which comprise footwear, eyewear, watches, fashion and fine jewelry, hats, gloves, umbrellas, belts, and leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bedding and bath products, furniture, fabrics and wallpapers, lightings, tabletops, floorcoverings, and giftware; and fragrances.

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Dividend History for Ralph Lauren (NYSE:RL)

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