Ralph Lauren (NYSE:RL) Hits New 52-Week High – Here’s Why

Shares of Ralph Lauren Co. (NYSE:RL) reached a new 52-week high on Tuesday . The company traded as high as $246.78 and last traded at $246.18, with a volume of 110702 shares. The stock had previously closed at $240.46.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Raymond James lifted their target price on Ralph Lauren from $215.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Barclays lifted their price target on Ralph Lauren from $200.00 to $257.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. TD Cowen increased their price objective on Ralph Lauren from $208.00 to $251.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. UBS Group lifted their target price on shares of Ralph Lauren from $287.00 to $300.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Guggenheim increased their price target on shares of Ralph Lauren from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $228.09.

Ralph Lauren Stock Up 2.5 %

The stock has a market cap of $15.93 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.83 and a beta of 1.49. The company has a current ratio of 1.72, a quick ratio of 1.18 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $229.15 and its two-hundred day moving average is $199.24.

Ralph Lauren (NYSE:RL) last released its earnings results on Thursday, November 7th. The textile maker reported $2.54 EPS for the quarter, topping the consensus estimate of $2.43 by $0.11. Ralph Lauren had a net margin of 10.15% and a return on equity of 29.44%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the company earned $2.10 EPS. Ralph Lauren’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, sell-side analysts predict that Ralph Lauren Co. will post 11.75 EPS for the current year.

Ralph Lauren Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.29%. Ralph Lauren’s payout ratio is 31.46%.

Institutional Investors Weigh In On Ralph Lauren

Several large investors have recently made changes to their positions in the business. M&T Bank Corp raised its holdings in shares of Ralph Lauren by 3.4% during the 3rd quarter. M&T Bank Corp now owns 1,657 shares of the textile maker’s stock valued at $321,000 after buying an additional 55 shares during the period. Simmons Bank raised its stake in shares of Ralph Lauren by 2.3% during the third quarter. Simmons Bank now owns 2,703 shares of the textile maker’s stock valued at $524,000 after purchasing an additional 62 shares during the period. Commerce Bank raised its stake in shares of Ralph Lauren by 1.2% during the third quarter. Commerce Bank now owns 5,687 shares of the textile maker’s stock valued at $1,103,000 after purchasing an additional 66 shares during the period. GAMMA Investing LLC lifted its position in shares of Ralph Lauren by 11.3% during the third quarter. GAMMA Investing LLC now owns 672 shares of the textile maker’s stock worth $130,000 after purchasing an additional 68 shares in the last quarter. Finally, Atomi Financial Group Inc. boosted its stake in shares of Ralph Lauren by 7.4% in the fourth quarter. Atomi Financial Group Inc. now owns 1,274 shares of the textile maker’s stock valued at $294,000 after purchasing an additional 88 shares during the period. Institutional investors and hedge funds own 67.91% of the company’s stock.

About Ralph Lauren

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men’s, women’s, and children’s clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.