Ralph Lauren Corp. (RL) Rating Lowered to Hold at Vetr Inc.
Ralph Lauren Corp. (NYSE:RL) was downgraded by Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday. They presently have a $99.66 price target on the stock. Vetr‘s target price would indicate a potential upside of 0.01% from the stock’s previous close.
RL has been the topic of several other research reports. BB&T Corp. reaffirmed a “buy” rating and issued a $115.00 price target on shares of Ralph Lauren Corp. in a report on Thursday, June 9th. Cowen and Company reissued a “market perform” rating and set a $101.00 target price (up from $98.00) on shares of Ralph Lauren Corp. in a research note on Saturday, August 13th. Bank of America Corp. set a $110.00 target price on shares of Ralph Lauren Corp. and gave the company a “hold” rating in a research note on Thursday, August 11th. Citigroup Inc. reissued a “buy” rating and set a $107.00 target price (up from $101.00) on shares of Ralph Lauren Corp. in a research note on Wednesday, June 8th. Finally, Brean Capital reissued a “hold” rating on shares of Ralph Lauren Corp. in a research note on Thursday, August 11th. Fifteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Ralph Lauren Corp. currently has an average rating of “Hold” and a consensus price target of $110.63.
Shares of Ralph Lauren Corp. (NYSE:RL) opened at 99.65 on Wednesday. The firm has a market cap of $8.20 billion, a PE ratio of 27.23 and a beta of 1.11. Ralph Lauren Corp. has a 12-month low of $82.15 and a 12-month high of $137.38. The stock’s 50 day moving average price is $103.48 and its 200 day moving average price is $96.66.
Ralph Lauren Corp. (NYSE:RL) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.17. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Ralph Lauren Corp. had a return on equity of 14.50% and a net margin of 4.22%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. On average, equities research analysts predict that Ralph Lauren Corp. will post $5.44 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, September 28th. Ralph Lauren Corp.’s dividend payout ratio is currently 55.25%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Kazazian Asset Management LLC bought a new position in shares of Ralph Lauren Corp. during the first quarter worth approximately $111,000. Investment Counselors of Maryland LLC bought a new position in shares of Ralph Lauren Corp. during the second quarter worth approximately $141,000. Trust Department MB Financial Bank N A raised its position in shares of Ralph Lauren Corp. by 795.2% in the second quarter. Trust Department MB Financial Bank N A now owns 1,128 shares of the company’s stock worth $149,000 after buying an additional 1,002 shares in the last quarter. Exane Derivatives raised its position in shares of Ralph Lauren Corp. by 15.8% in the first quarter. Exane Derivatives now owns 1,583 shares of the company’s stock worth $152,000 after buying an additional 216 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Ralph Lauren Corp. by 154.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,044 shares of the company’s stock worth $183,000 after buying an additional 1,240 shares in the last quarter. 63.74% of the stock is owned by institutional investors and hedge funds.
Ralph Lauren Corp. Company Profile
Ralph Lauren Corporation is engaged in the design, marketing and distribution of lifestyle products, including apparel, accessories, home furnishings and other licensed product categories. The Company operates through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.
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