Ralph Lauren (NYSE:RL) Given New $350.00 Price Target at Needham & Company LLC

Ralph Lauren (NYSE:RL) had its target price hoisted by Needham & Company LLC from $335.00 to $350.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. Needham & Company LLC currently has a buy rating on the textile maker’s stock.

Several other analysts have also commented on RL. Cfra Research raised Ralph Lauren from a “moderate sell” rating to a “hold” rating in a report on Monday, August 11th. UBS Group raised their price objective on Ralph Lauren from $385.00 to $404.00 and gave the company a “buy” rating in a report on Friday, August 8th. Bank of America raised their price objective on Ralph Lauren from $318.00 to $328.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Jefferies Financial Group reissued a “buy” rating on shares of Ralph Lauren in a report on Wednesday, August 27th. Finally, Cowen reissued a “buy” rating on shares of Ralph Lauren in a report on Thursday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $308.76.

Ralph Lauren Stock Down 0.4%

Ralph Lauren stock opened at $315.23 on Friday. The firm has a market cap of $19.09 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 1.60 and a beta of 1.60. Ralph Lauren has a 52 week low of $176.61 and a 52 week high of $321.77. The business’s 50-day moving average price is $296.18 and its 200 day moving average price is $262.21. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58.

Ralph Lauren (NYSE:RL) last posted its earnings results on Thursday, August 7th. The textile maker reported $3.77 EPS for the quarter, topping the consensus estimate of $3.50 by $0.27. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.65 billion. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.Ralph Lauren’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the company earned $2.70 earnings per share. As a group, sell-side analysts anticipate that Ralph Lauren will post 12.01 earnings per share for the current year.

Ralph Lauren declared that its Board of Directors has approved a share buyback program on Thursday, May 22nd that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the textile maker to reacquire up to 8.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Ralph Lauren Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be given a dividend of $0.9125 per share. This represents a $3.65 dividend on an annualized basis and a yield of 1.2%. Ralph Lauren’s payout ratio is 29.15%.

Hedge Funds Weigh In On Ralph Lauren

Institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. lifted its position in Ralph Lauren by 1,228.6% during the second quarter. Hantz Financial Services Inc. now owns 93 shares of the textile maker’s stock worth $26,000 after buying an additional 86 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Ralph Lauren by 93.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker’s stock valued at $27,000 after buying an additional 59 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in shares of Ralph Lauren in the 2nd quarter valued at approximately $28,000. Sentry Investment Management LLC grew its stake in shares of Ralph Lauren by 178.0% in the 1st quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker’s stock valued at $31,000 after buying an additional 89 shares during the period. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Ralph Lauren in the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors 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.