Ralph Lauren Co. (NYSE:RL) has earned a consensus recommendation of “Buy” from the nineteen research firms that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $127.71.
RL has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on Ralph Lauren in a report on Wednesday, July 14th. They issued a “buy” rating and a $147.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Ralph Lauren from $114.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, May 21st. Piper Sandler upped their target price on Ralph Lauren from $100.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, May 21st. TheStreet upgraded Ralph Lauren from a “c” rating to a “b-” rating in a report on Tuesday, August 3rd. Finally, Cowen upped their target price on Ralph Lauren from $147.00 to $158.00 and gave the company an “outperform” rating in a report on Wednesday, August 4th.
Shares of NYSE:RL traded down $1.98 during midday trading on Tuesday, hitting $111.72. 509,580 shares of the stock were exchanged, compared to its average volume of 990,778. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 49.65, a P/E/G ratio of 1.07 and a beta of 1.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.69 and a current ratio of 2.07. The business’s 50-day moving average price is $115.82 and its 200 day moving average price is $120.98. Ralph Lauren has a 12 month low of $65.20 and a 12 month high of $142.06.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 8th. Stockholders of record on Friday, September 24th will be given a dividend of $0.6875 per share. This represents a $2.75 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Thursday, September 23rd. Ralph Lauren’s payout ratio is 161.76%.
In related news, Director Hubert Joly purchased 8,400 shares of the stock in a transaction that occurred on Wednesday, August 18th. The stock was acquired at an average cost of $117.90 per share, with a total value of $990,360.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jane Nielsen sold 4,233 shares of the stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $129.00, for a total value of $546,057.00. The disclosure for this sale can be found here. 34.62% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Ralph Lauren by 79.5% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,592,751 shares of the textile maker’s stock valued at $541,072,000 after purchasing an additional 2,033,615 shares during the period. Standard Life Aberdeen plc grew its stake in Ralph Lauren by 8,297.5% in the 1st quarter. Standard Life Aberdeen plc now owns 912,053 shares of the textile maker’s stock valued at $112,347,000 after purchasing an additional 901,192 shares during the period. Newbrook Capital Advisors LP bought a new position in Ralph Lauren in the 1st quarter valued at $73,427,000. Man Group plc grew its stake in Ralph Lauren by 576.4% in the 1st quarter. Man Group plc now owns 673,873 shares of the textile maker’s stock valued at $82,995,000 after purchasing an additional 574,252 shares during the period. Finally, Ceredex Value Advisors LLC bought a new position in Ralph Lauren in the 2nd quarter valued at $56,809,000. 62.76% of the stock is owned by institutional investors and hedge funds.
Ralph Lauren Company Profile
Ralph Lauren Corp. engages in the design, marketing, and distribution of premium lifestyle products. The firm offers apparel, accessories, home furnishings, and other licensed product. It operates through the following segments: North America, Europe, and Asia. The North America segment consists of sales of Ralph Lauren branded apparel, accessories, home furnishings, and related products made through the Company’s wholesale and retail businesses in the U.S.
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