Ralph Lauren (NYSE:RL) Given New $365.00 Price Target at Jefferies Financial Group

Ralph Lauren (NYSE:RL) had its target price increased by Jefferies Financial Group from $325.00 to $365.00 in a report released on Wednesday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the textile maker’s stock.

Other analysts have also issued research reports about the stock. Citigroup lifted their price target on shares of Ralph Lauren from $250.00 to $295.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Wall Street Zen upgraded shares of Ralph Lauren from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Cfra Research upgraded shares of Ralph Lauren from a “moderate sell” rating to a “hold” rating in a research note on Monday, August 11th. Bank of America lifted their price target on shares of Ralph Lauren from $318.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Finally, Zacks Research upgraded shares of Ralph Lauren to a “strong-buy” rating in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $311.41.

Ralph Lauren Stock Performance

NYSE:RL opened at $306.09 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $297.70 and a two-hundred day moving average price of $263.03. Ralph Lauren has a twelve month low of $176.61 and a twelve month high of $321.77. The company has a market capitalization of $18.54 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 1.59 and a beta of 1.60.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.27. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.65 billion. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.70 earnings per share. As a group, research analysts expect that Ralph Lauren will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren announced that its board has authorized a stock repurchase plan on Thursday, May 22nd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the textile maker to reacquire up to 8.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Ralph Lauren Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.9125 per share. The ex-dividend date is Friday, September 26th. This represents a $3.65 annualized dividend and a yield of 1.2%. Ralph Lauren’s payout ratio is presently 29.15%.

Hedge Funds Weigh In On Ralph Lauren

Several institutional investors have recently modified their holdings of the company. Valeo Financial Advisors LLC bought a new position in shares of Ralph Lauren during the second quarter worth about $228,000. Thrivent Financial for Lutherans grew its position in shares of Ralph Lauren by 118.7% during the second quarter. Thrivent Financial for Lutherans now owns 14,551 shares of the textile maker’s stock worth $3,991,000 after acquiring an additional 7,899 shares during the last quarter. Nomura Holdings Inc. grew its position in shares of Ralph Lauren by 569.2% during the second quarter. Nomura Holdings Inc. now owns 23,649 shares of the textile maker’s stock worth $6,486,000 after acquiring an additional 20,115 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Ralph Lauren by 57.1% during the second quarter. Geneos Wealth Management Inc. now owns 143 shares of the textile maker’s stock worth $39,000 after acquiring an additional 52 shares during the last quarter. Finally, Kestra Investment Management LLC grew its position in shares of Ralph Lauren by 47.9% during the second quarter. Kestra Investment Management LLC now owns 2,068 shares of the textile maker’s stock worth $567,000 after acquiring an additional 670 shares during the last quarter. Institutional investors own 67.91% of the company’s stock.

Ralph Lauren Company Profile

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; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, 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, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.