Ralph Lauren (NYSE:RL) Price Target Cut to $140.00 by Analysts at Telsey Advisory Group

Ralph Lauren (NYSE:RLGet Rating) had its price target trimmed by Telsey Advisory Group from $160.00 to $140.00 in a report released on Wednesday morning, Stock Target Advisor reports. The brokerage currently has an outperform rating on the textile maker’s stock. Telsey Advisory Group also issued estimates for Ralph Lauren’s Q1 2023 earnings at $1.69 EPS, Q2 2023 earnings at $2.35 EPS, Q3 2023 earnings at $3.31 EPS, Q4 2023 earnings at $0.83 EPS, FY2023 earnings at $8.17 EPS and FY2024 earnings at $9.40 EPS.

Several other analysts also recently issued reports on RL. Truist Financial increased their price objective on shares of Ralph Lauren from $141.00 to $156.00 in a research report on Friday, February 4th. Wedbush downgraded shares of Ralph Lauren from an outperform rating to a neutral rating and lowered their price objective for the company from $150.00 to $127.00 in a research report on Monday, March 7th. Zacks Investment Research downgraded shares of Ralph Lauren from a strong-buy rating to a hold rating and set a $115.00 price objective for the company. in a research report on Thursday, March 10th. StockNews.com began coverage on shares of Ralph Lauren in a research report on Thursday, March 31st. They issued a buy rating for the company. Finally, Citigroup downgraded shares of Ralph Lauren from a buy rating to a neutral rating and lowered their price objective for the company from $140.00 to $98.00 in a research report on Monday, May 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $126.07.

NYSE RL opened at $98.87 on Wednesday. Ralph Lauren has a 12 month low of $86.55 and a 12 month high of $135.99. The company has a 50-day moving average of $105.80 and a 200-day moving average of $114.07. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.50. The company has a market cap of $7.04 billion, a P/E ratio of 14.82 and a beta of 1.38.

Ralph Lauren (NYSE:RLGet Rating) last posted its quarterly earnings data on Tuesday, May 24th. The textile maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.13. Ralph Lauren had a net margin of 8.38% and a return on equity of 22.59%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company posted $0.38 EPS. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Ralph Lauren will post 8.16 EPS for the current year.

Ralph Lauren declared that its Board of Directors has initiated a stock buyback program on Thursday, February 3rd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the textile maker to purchase up to 17.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, July 1st will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, June 30th. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.69. This represents a $3.00 annualized dividend and a yield of 3.03%. Ralph Lauren’s dividend payout ratio (DPR) is 41.23%.

A number of institutional investors and hedge funds have recently made changes to their positions in RL. WINTON GROUP Ltd increased its position in Ralph Lauren by 0.9% in the fourth quarter. WINTON GROUP Ltd now owns 10,009 shares of the textile maker’s stock worth $1,190,000 after buying an additional 88 shares during the period. Louisiana State Employees Retirement System increased its position in Ralph Lauren by 3.3% in the fourth quarter. Louisiana State Employees Retirement System now owns 3,100 shares of the textile maker’s stock worth $368,000 after buying an additional 100 shares during the period. State of Michigan Retirement System increased its position in Ralph Lauren by 0.8% in the fourth quarter. State of Michigan Retirement System now owns 12,316 shares of the textile maker’s stock worth $1,464,000 after buying an additional 100 shares during the period. NorthCrest Asset Manangement LLC increased its position in Ralph Lauren by 2.6% in the first quarter. NorthCrest Asset Manangement LLC now owns 4,320 shares of the textile maker’s stock worth $490,000 after buying an additional 110 shares during the period. Finally, Raymond James & Associates increased its position in Ralph Lauren by 3.3% in the fourth quarter. Raymond James & Associates now owns 3,932 shares of the textile maker’s stock worth $467,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 99.89% of the company’s stock.

About Ralph Lauren (Get 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 men's, women's, and children's clothing and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, umbrellas, and belts, 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, lighting, tabletop, floor coverings, and giftware; and fragrances.

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