Ralph Lauren (NYSE:RL) Given New $116.00 Price Target at Deutsche Bank Aktiengesellschaft

Ralph Lauren (NYSE:RLGet Rating) had its target price decreased by Deutsche Bank Aktiengesellschaft from $136.00 to $116.00 in a report published on Monday morning, The Fly reports.

A number of other research analysts have also recently commented on RL. Truist Financial raised their price target on shares of Ralph Lauren from $141.00 to $156.00 in a research note on Friday, February 4th. Credit Suisse Group raised their price objective on shares of Ralph Lauren from $155.00 to $165.00 and gave the stock an outperform rating in a report on Friday, February 4th. JPMorgan Chase & Co. raised shares of Ralph Lauren from a neutral rating to an overweight rating and set a $142.00 price objective for the company in a report on Thursday, March 17th. Telsey Advisory Group raised their price objective on shares of Ralph Lauren from $152.00 to $160.00 and gave the stock an outperform rating in a report on Friday, February 4th. Finally, Wells Fargo & Company lowered shares of Ralph Lauren from an overweight rating to an equal weight rating and dropped their price objective for the stock from $135.00 to $110.00 in a report on Tuesday, April 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Buy and an average price target of $135.36.

Shares of RL opened at $98.30 on Monday. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of 14.74 and a beta of 1.38. The company has a quick ratio of 1.50, a current ratio of 1.88 and a debt-to-equity ratio of 0.42. Ralph Lauren has a 12 month low of $91.54 and a 12 month high of $140.24. The company has a 50-day moving average price of $109.08 and a two-hundred day moving average price of $116.13.

Ralph Lauren declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 3rd that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the textile maker to purchase up to 17.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Friday, April 1st were issued a $0.6875 dividend. This represents a $2.75 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Thursday, March 31st. Ralph Lauren’s dividend payout ratio is currently 41.23%.

Hedge funds have recently made changes to their positions in the business. Willis Investment Counsel boosted its stake in Ralph Lauren by 19.0% in the third quarter. Willis Investment Counsel now owns 130,213 shares of the textile maker’s stock valued at $14,459,000 after acquiring an additional 20,789 shares during the last quarter. Peapack Gladstone Financial Corp boosted its stake in Ralph Lauren by 5.4% in the third quarter. Peapack Gladstone Financial Corp now owns 4,912 shares of the textile maker’s stock valued at $546,000 after acquiring an additional 250 shares during the last quarter. Morgan Stanley boosted its position in shares of Ralph Lauren by 33.3% during the third quarter. Morgan Stanley now owns 270,012 shares of the textile maker’s stock worth $29,982,000 after purchasing an additional 67,520 shares in the last quarter. Contravisory Investment Management Inc. boosted its position in shares of Ralph Lauren by 45.8% during the fourth quarter. Contravisory Investment Management Inc. now owns 4,553 shares of the textile maker’s stock worth $541,000 after purchasing an additional 1,431 shares in the last quarter. Finally, First Trust Advisors LP bought a new position in shares of Ralph Lauren during the fourth quarter worth $6,336,000. 99.89% of the stock is currently owned by hedge funds and other institutional investors.

Ralph Lauren Company Profile (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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