Ralph Lauren (NYSE:RL – Get Note) saw its target price lowered by Deutsche Bank Aktiengesellschaft from $136.00 to $116.00 in a report released on Monday morning, reports The Fly.
A number of other research analysts have also recently commented on RL. Truist Financial raised its price target on Ralph Lauren shares from $141.00 to $156.00 in a Friday, February 4 research note. Credit Suisse Group raised its price target on Ralph Lauren shares from $155.00 to $165.00 and gave the stock an outperform rating in a report on Friday, Feb. 4. JPMorgan Chase & Co. upgraded Ralph Lauren shares from a neutral rating to an overweight rating and set a price target of $142.00 for the company in a Thursday, March 17 report. Telsey Advisory Group raised its price target on Ralph Lauren shares from $152.00 to $160.00 and gave the stock an outperform rating in a Friday, February 4, report. Finally, Wells Fargo & Company downgraded shares of Ralph Lauren from an overweight rating to an equal weight rating and lowered its price target for the stock from $135.00 to $110.00 in a report from the Tuesday, April 5. A research analyst rated the stock with a sell rating, five gave the company a hold rating and nine gave the company a buy rating. According to MarketBeat.com, the company has a buy consensus rating and an average price target of $135.36.
Shares of RL opened at $98.30 on Monday. The stock has a market capitalization of $7.00 billion, a price-earnings ratio of 14.74 and a beta of 1.38. The company has a quick ratio of 1.50, a current ratio of 1.88 and a debt ratio of 0.42. Ralph Lauren has a 12-month low of $91.54 and a 12-month high of $140.24. The company has a 50-day moving average price of $109.08 and a two-hundred-day moving average price of $116.13.
Ralph Lauren said its board launched a stock buyback plan on Thursday (February 3rd) that sees the company repurchase $1.50 billion in outstanding stock. This repurchase authorization allows the textile manufacturer to acquire up to 17.3% of its shares through purchases on the open market. Stock repurchase plans usually indicate that the company’s board of directors believe its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, April 15. Investors of record on Friday, April 1 received a dividend of $0.6875. This represents a dividend of $2.75 on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Thursday, March 31. Ralph Lauren’s dividend payout ratio is currently 41.23%.
Hedge funds have recently changed their positions in the business. Willis Investment Counsel increased its stake in Ralph Lauren by 19.0% in the third quarter. Willis Investment Counsel now owns 130,213 shares of the textile maker valued at $14,459,000 after acquiring 20,789 additional shares in the last quarter. Peapack Gladstone Financial Corp increased its stake in Ralph Lauren by 5.4% in the third quarter. Peapack Gladstone Financial Corp now owns 4,912 shares of the textile maker valued at $546,000 after acquiring 250 additional shares in the last quarter. Morgan Stanley increased its position in Ralph Lauren shares by 33.3% during the third quarter. Morgan Stanley now owns 270,012 shares of the textile maker worth $29,982,000 after buying an additional 67,520 shares last quarter. Contravisory Investment Management Inc. increased its position in Ralph Lauren shares by 45.8% during the fourth quarter. Contravisory Investment Management Inc. now owns 4,553 shares of the textile maker worth $541,000 after buying 1,431 additional shares last quarter. Finally, First Trust Advisors LP bought a new position in Ralph Lauren stock during the fourth quarter worth $6,336,000. 99.89% of the shares are currently held by hedge funds and other institutional investors.
Ralph Lauren Company Profile (Get a rating)
Ralph Lauren Corporation designs, markets and distributes lifestyle products in North America, Europe, Asia and internationally. The Company offers apparel, including a range of apparel and accessories for men, women and children, which includes casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, jewelry fashion and refined, scarves, hats, gloves, umbrellas, and belts, as well as leather goods, such as handbags, luggage, small leather goods and belts; home products comprised of bed and bath lines, furniture, fabrics and wall coverings, lighting, table tops, flooring and giftware; and perfumes.
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