Ralph Lauren Corporation (NYSE:RL) Increases Dividend to $1.00 Per Share

Ralph Lauren Corporation (NYSE:RL) declared a quarterly dividend on Thursday, May 21st. Shareholders of record on Friday, June 26th will be paid a dividend of 1.00 per share by the textile maker on Friday, July 10th. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, June 26th. This is a 9.6% increase from Ralph Lauren’s previous quarterly dividend of $0.91.

Ralph Lauren has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Ralph Lauren has a payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ralph Lauren to earn $18.08 per share next year, which means the company should continue to be able to cover its $3.65 annual dividend with an expected future payout ratio of 20.2%.

Ralph Lauren Stock Up 13.9%

NYSE:RL traded up $45.63 during trading hours on Thursday, reaching $374.87. 2,116,380 shares of the company traded hands, compared to its average volume of 639,201. The business’s 50-day moving average price is $352.65 and its two-hundred day moving average price is $354.72. The stock has a market capitalization of $22.69 billion, a P/E ratio of 25.52, a P/E/G ratio of 1.12 and a beta of 1.37. Ralph Lauren has a 1 year low of $258.13 and a 1 year high of $393.41. The company has a current ratio of 2.10, a quick ratio of 1.52 and a debt-to-equity ratio of 0.50.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings data on Thursday, May 21st. The textile maker reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.28. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Ralph Lauren had a return on equity of 37.97% and a net margin of 11.73%.The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.27 earnings per share. Analysts predict that Ralph Lauren will post 16.28 earnings per share for the current year.

Institutional Trading of Ralph Lauren

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Ralph Lauren by 18.6% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 32,362 shares of the textile maker’s stock worth $10,147,000 after buying an additional 5,075 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Ralph Lauren by 7.4% in the third quarter. Envestnet Asset Management Inc. now owns 265,601 shares of the textile maker’s stock worth $83,282,000 after buying an additional 18,355 shares during the period. Winnow Wealth LLC purchased a new stake in shares of Ralph Lauren in the third quarter worth approximately $899,000. Rakuten Investment Management Inc. purchased a new position in Ralph Lauren during the 3rd quarter worth $86,719,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in Ralph Lauren by 116.9% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 47,445 shares of the textile maker’s stock worth $14,877,000 after purchasing an additional 25,569 shares during the period. Hedge funds and other institutional investors own 67.91% of the company’s stock.

About Ralph Lauren

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.