Ralph Lauren (NYSE:RL) Reaches New 12-Month High – Here’s What Happened

Ralph Lauren Corporation (NYSE:RL)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $409.69 and last traded at $417.3680, with a volume of 586 shares changing hands. The stock had previously closed at $403.98.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RL shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Ralph Lauren in a research report on Thursday, May 21st. Weiss Ratings downgraded Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 15th. BTIG Research reiterated a “buy” rating and set a $450.00 price target on shares of Ralph Lauren in a report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $437.00 price objective on shares of Ralph Lauren in a research note on Friday, May 22nd. Finally, Barclays raised their price objective on Ralph Lauren from $430.00 to $439.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $428.29.

Ralph Lauren Price Performance

The stock has a market cap of $24.88 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 2.00 and a beta of 1.35. The company has a quick ratio of 1.57, a current ratio of 2.13 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average is $365.11 and its 200-day moving average is $360.45.

Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.28. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.85 billion. Ralph Lauren had a return on equity of 38.17% and a net margin of 11.60%.The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.27 earnings per share. Equities research analysts expect that Ralph Lauren Corporation will post 18.33 earnings per share for the current fiscal year.

Ralph Lauren Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be paid a $1.00 dividend. The ex-dividend date is Friday, June 26th. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.91. Ralph Lauren’s dividend payout ratio is presently 24.16%.

Hedge Funds Weigh In On Ralph Lauren

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blueline Advisors LLC acquired a new position in shares of Ralph Lauren in the 4th quarter worth approximately $27,000. JPL Wealth Management LLC bought a new position in Ralph Lauren in the 3rd quarter valued at $27,000. CYBER HORNET ETFs LLC acquired a new position in Ralph Lauren in the second quarter worth $28,000. Aventura Private Wealth LLC bought a new stake in shares of Ralph Lauren during the fourth quarter worth $29,000. Finally, Rothschild Investment LLC grew its holdings in shares of Ralph Lauren by 61.3% during the third quarter. Rothschild Investment LLC now owns 100 shares of the textile maker’s stock worth $31,000 after purchasing an additional 38 shares during the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.

About Ralph Lauren

Ralph Lauren Corporation (NYSE: RL) is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men’s neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren’s product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.