Ralph Lauren (NYSE:RL) Reaches New 52-Week High – Here’s What Happened

Shares of Ralph Lauren Corporation (NYSE:RL) hit a new 52-week high on Thursday . The stock traded as high as $378.77 and last traded at $377.1140, with a volume of 130461 shares traded. The stock had previously closed at $365.72.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Ralph Lauren from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $435.00 target price on shares of Ralph Lauren in a research report on Wednesday. Guggenheim started coverage on Ralph Lauren in a research report on Tuesday, December 9th. They issued a “neutral” rating on the stock. UBS Group increased their target price on shares of Ralph Lauren from $421.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Zacks Research lowered shares of Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $357.44.

Ralph Lauren Stock Down 2.0%

The company has a market cap of $21.98 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 1.79 and a beta of 1.52. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.04 and a quick ratio of 1.35. The stock has a fifty day moving average price of $341.99 and a two-hundred day moving average price of $310.67.

Ralph Lauren (NYSE:RL) last released its quarterly earnings results on Thursday, November 6th. The textile maker reported $3.79 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.34. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.88 billion. Ralph Lauren had a return on equity of 36.18% and a net margin of 11.28%.Ralph Lauren’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.54 EPS. On average, research analysts expect that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 26th will be issued a dividend of $0.9125 per share. The ex-dividend date is Friday, December 26th. This represents a $3.65 annualized dividend and a yield of 1.0%. Ralph Lauren’s payout ratio is 26.98%.

Hedge Funds Weigh In On Ralph Lauren

Hedge funds and other institutional investors have recently modified their holdings of the business. Sumitomo Mitsui Financial Group Inc. increased its position in shares of Ralph Lauren by 0.3% during the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 11,762 shares of the textile maker’s stock valued at $3,688,000 after acquiring an additional 32 shares during the last quarter. Wedmont Private Capital raised its stake in shares of Ralph Lauren by 3.1% during the 3rd quarter. Wedmont Private Capital now owns 1,114 shares of the textile maker’s stock worth $362,000 after purchasing an additional 34 shares during the period. Johnson Investment Counsel Inc. boosted its holdings in shares of Ralph Lauren by 0.4% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 9,311 shares of the textile maker’s stock worth $2,920,000 after buying an additional 34 shares during the last quarter. Polymer Capital Management US LLC grew its position in Ralph Lauren by 1.1% during the third quarter. Polymer Capital Management US LLC now owns 3,230 shares of the textile maker’s stock valued at $1,013,000 after buying an additional 34 shares during the period. Finally, Rothschild Investment LLC increased its holdings in Ralph Lauren by 61.3% during the third quarter. Rothschild Investment LLC now owns 100 shares of the textile maker’s stock worth $31,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Ralph Lauren Company Profile

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.