Ralph Lauren Corp. (RL) Coverage Initiated by Analysts at Guggenheim
RL has been the topic of a number of other research reports. Vetr lowered shares of Ralph Lauren Corp. from a buy rating to a hold rating and set a $99.66 price objective on the stock. in a research note on Wednesday, September 28th. BB&T Corp. reiterated a buy rating and set a $115.00 price objective on shares of Ralph Lauren Corp. in a research note on Thursday, June 9th. Cowen and Company reiterated a market perform rating and set a $101.00 price objective (up previously 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 price objective on shares of Ralph Lauren Corp. and gave the company a hold rating in a research note on Thursday, August 11th. Finally, Citigroup Inc. reiterated a buy rating and set a $107.00 price objective (up previously from $101.00) on shares of Ralph Lauren Corp. in a research note on Wednesday, June 8th. Sixteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $110.63.
Ralph Lauren Corp. (NYSE:RL) traded up 0.27% during mid-day trading on Friday, reaching $101.41. 90,524 shares of the company traded hands. The firm’s 50-day moving average is $103.27 and its 200 day moving average is $96.67. Ralph Lauren Corp. has a 52-week low of $82.15 and a 52-week high of $137.38. The stock has a market capitalization of $8.34 billion, a PE ratio of 27.72 and a beta of 1.17.
Ralph Lauren Corp. (NYSE:RL) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.17. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. Ralph Lauren Corp. had a net margin of 4.22% and a return on equity of 14.50%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 earnings per share. On average, equities research analysts expect that Ralph Lauren Corp. will post $5.44 earnings per share for the current year.
The company 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 1.98%. The ex-dividend date is Wednesday, September 28th. Ralph Lauren Corp.’s dividend payout ratio is presently 55.25%.
Several hedge funds have recently added to or reduced their stakes in RL. Southeastern Asset Management Inc. TN purchased a new stake in Ralph Lauren Corp. during the second quarter worth about $245,238,000. Capital Research Global Investors boosted its stake in Ralph Lauren Corp. by 18.6% in the second quarter. Capital Research Global Investors now owns 2,550,003 shares of the company’s stock worth $228,531,000 after buying an additional 400,003 shares in the last quarter. Wellington Management Group LLP boosted its stake in Ralph Lauren Corp. by 9.2% in the first quarter. Wellington Management Group LLP now owns 2,036,266 shares of the company’s stock worth $196,010,000 after buying an additional 171,109 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Ralph Lauren Corp. by 10.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,701,295 shares of the company’s stock worth $163,767,000 after buying an additional 161,047 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Ralph Lauren Corp. during the second quarter worth about $106,337,000. Institutional investors and hedge funds own 63.74% of the company’s stock.
About Ralph Lauren Corp.
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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