Shares of Ralph Lauren Co. (NYSE:RL – Get Rating) have received an average recommendation of “Hold” from the seventeen research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $136.00.
RL has been the subject of a number of recent analyst reports. Credit Suisse Group upped their target price on Ralph Lauren from $155.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 4th. Wedbush downgraded Ralph Lauren from an “outperform” rating to a “neutral” rating and cut their target price for the company from $150.00 to $127.00 in a research report on Monday, March 7th. StockNews.com initiated coverage on Ralph Lauren in a research report on Thursday, March 31st. They set a “buy” rating for the company. UBS Group upped their target price on Ralph Lauren from $168.00 to $171.00 and gave the company a “buy” rating in a research report on Monday, February 7th. Finally, Cowen upped their target price on Ralph Lauren from $162.00 to $171.00 in a research report on Friday, February 4th.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. HS Management Partners LLC bought a new stake in shares of Ralph Lauren in the 3rd quarter valued at $173,153,000. Balyasny Asset Management LLC acquired a new position in Ralph Lauren in the third quarter valued at $50,673,000. Russell Investments Group Ltd. boosted its position in Ralph Lauren by 79.4% during the first quarter. Russell Investments Group Ltd. now owns 987,527 shares of the textile maker’s stock valued at $114,220,000 after acquiring an additional 437,147 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Ralph Lauren by 392.1% during the 3rd quarter. Goldman Sachs Group Inc. now owns 528,841 shares of the textile maker’s stock worth $58,722,000 after acquiring an additional 421,376 shares during the period. Finally, Fuller & Thaler Asset Management Inc. bought a new position in shares of Ralph Lauren in the 1st quarter worth about $40,466,000. 99.89% of the stock is currently owned by hedge funds and other institutional investors.
Ralph Lauren declared that its Board of Directors has approved a share repurchase program on Thursday, February 3rd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the textile maker to reacquire up to 17.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Friday, April 1st were issued a dividend of $0.6875 per share. This represents a $2.75 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Thursday, March 31st. Ralph Lauren’s payout ratio is 41.23%.
About Ralph Lauren (Get Rating)
Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men's, women's, and children's clothing and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, umbrellas, and belts, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, lighting, tabletop, floor coverings, and giftware; and fragrances.
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