Ralph Lauren (NYSE:RL) Hits New 1-Year High – Here’s What Happened

Shares of Ralph Lauren Corporation (NYSE:RL) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $393.42 and last traded at $392.6060, with a volume of 470843 shares. The stock had previously closed at $372.85.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RL shares. BTIG Research restated a “buy” rating and issued a $450.00 price target on shares of Ralph Lauren in a research note on Friday, May 22nd. Zacks Research downgraded Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Bank of America raised their price target on Ralph Lauren from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Barclays raised their price target on Ralph Lauren from $430.00 to $439.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Finally, Wells Fargo & Company raised their price target on Ralph Lauren from $400.00 to $415.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $428.29.

Ralph Lauren Price Performance

The company has a current ratio of 2.13, a quick ratio of 1.57 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $23.28 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 1.82 and a beta of 1.35. The firm has a 50 day moving average price of $360.83 and a 200 day moving average price of $358.91.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings data on Thursday, May 21st. The textile maker reported $2.80 EPS for the quarter, topping the consensus estimate of $2.52 by $0.28. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.85 billion. Ralph Lauren had a return on equity of 38.17% and a net margin of 11.60%.Ralph Lauren’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.27 EPS. Research analysts anticipate that Ralph Lauren Corporation will post 18.29 earnings per share for the current year.

Ralph Lauren Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be paid a $1.00 dividend. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 26th. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. Ralph Lauren’s dividend payout ratio (DPR) is currently 26.47%.

Institutional Investors Weigh In On Ralph Lauren

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blueline Advisors LLC purchased a new stake in Ralph Lauren in the 4th quarter worth $27,000. Aventura Private Wealth LLC purchased a new position in shares of Ralph Lauren in the fourth quarter valued at about $29,000. JPL Wealth Management LLC purchased a new position in shares of Ralph Lauren in the third quarter valued at about $27,000. Rothschild Investment LLC lifted its position in shares of Ralph Lauren by 61.3% in the third quarter. Rothschild Investment LLC now owns 100 shares of the textile maker’s stock valued at $31,000 after acquiring an additional 38 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Ralph Lauren in the fourth quarter valued at about $35,000. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

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.