Short Interest in Ralph Lauren Corporation (NYSE:RL) Rises By 25.5%

Ralph Lauren Corporation (NYSE:RL) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 2,898,052 shares, a growth of 25.5% from the March 15th total of 2,309,505 shares. Currently, 7.8% of the company’s stock are sold short. Based on an average trading volume of 677,476 shares, the days-to-cover ratio is presently 4.3 days.

Ralph Lauren Stock Up 4.6%

Ralph Lauren stock traded up $17.08 during midday trading on Friday, reaching $386.78. The company’s stock had a trading volume of 690,034 shares, compared to its average volume of 596,645. The stock’s 50-day simple moving average is $356.63 and its 200-day simple moving average is $350.04. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.10 and a quick ratio of 1.52. Ralph Lauren has a 52-week low of $198.62 and a 52-week high of $389.15. The stock has a market capitalization of $23.42 billion, a P/E ratio of 26.33, a PEG ratio of 1.30 and a beta of 1.46.

Ralph Lauren (NYSE:RL) last released its quarterly earnings results on Thursday, February 5th. The textile maker reported $6.22 EPS for the quarter, beating analysts’ consensus estimates of $5.80 by $0.42. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Ralph Lauren had a return on equity of 37.97% and a net margin of 11.73%.The firm’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the business posted $4.82 earnings per share. On average, sell-side analysts expect that Ralph Lauren will post 12.01 EPS for the current year.

Ralph Lauren Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were issued a $0.9125 dividend. This represents a $3.65 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, March 27th. Ralph Lauren’s dividend payout ratio (DPR) is presently 24.85%.

Analysts Set New Price Targets

Several brokerages recently issued reports on RL. Citigroup upgraded shares of Ralph Lauren from a “neutral” rating to a “buy” rating and upped their target price for the stock from $360.00 to $400.00 in a research report on Tuesday, March 24th. Zacks Research upgraded Ralph Lauren from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. BTIG Research raised their price target on Ralph Lauren from $400.00 to $435.00 and gave the company a “buy” rating in a report on Friday, February 6th. Jefferies Financial Group reduced their price target on shares of Ralph Lauren from $425.00 to $410.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Finally, Barclays boosted their price objective on Ralph Lauren from $416.00 to $430.00 and gave the company an “overweight” rating in a research note on Friday, March 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Ralph Lauren has a consensus rating of “Moderate Buy” and a consensus target price of $399.19.

Insider Transactions at Ralph Lauren

In related news, CEO Patrice Louvet sold 47,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $354.22, for a total value of $16,648,340.00. Following the transaction, the chief executive officer directly owned 85,552 shares of the company’s stock, valued at approximately $30,304,229.44. The trade was a 35.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 38.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ralph Lauren

Institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in shares of Ralph Lauren by 26.2% in the fourth quarter. Invesco Ltd. now owns 1,324,018 shares of the textile maker’s stock valued at $468,186,000 after buying an additional 275,263 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Ralph Lauren by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 1,050,543 shares of the textile maker’s stock valued at $370,852,000 after purchasing an additional 54,686 shares during the last quarter. Orion Porfolio Solutions LLC lifted its holdings in shares of Ralph Lauren by 8,937.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock valued at $264,225,000 after purchasing an additional 952,681 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in Ralph Lauren by 11.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 941,832 shares of the textile maker’s stock valued at $295,321,000 after acquiring an additional 98,511 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Ralph Lauren by 40.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 895,017 shares of the textile maker’s stock worth $316,487,000 after purchasing an additional 255,511 shares during the period. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Ralph Lauren Company Profile

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.