Ralph Lauren (NYSE:RL) Given New $400.00 Price Target at Argus

Ralph Lauren (NYSE:RL) had its price target raised by Argus from $360.00 to $400.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the textile maker’s stock.

RL has been the subject of several other reports. UBS Group boosted their price target on Ralph Lauren from $435.00 to $473.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Barclays reiterated an “overweight” rating and set a $409.00 target price on shares of Ralph Lauren in a research report on Tuesday, January 6th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $435.00 price target on shares of Ralph Lauren in a research note on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft set a $422.00 price objective on shares of Ralph Lauren in a research report on Thursday, January 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Ralph Lauren in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $375.29.

Ralph Lauren Stock Performance

RL opened at $368.95 on Thursday. 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 business has a fifty day simple moving average of $356.08 and a 200 day simple moving average of $322.68. Ralph Lauren has a 1 year low of $176.61 and a 1 year high of $380.00. The company has a market capitalization of $22.37 billion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 1.64 and a beta of 1.49.

Ralph Lauren (NYSE:RL) last posted its earnings results on Thursday, November 6th. The textile maker reported $3.79 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $0.34. Ralph Lauren had a return on equity of 36.18% and a net margin of 11.28%.The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm earned $2.54 earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. Research analysts expect that Ralph Lauren will post 12.01 EPS for the current year.

Ralph Lauren Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were paid a $0.9125 dividend. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, December 26th. Ralph Lauren’s dividend payout ratio is presently 26.98%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Orion Porfolio Solutions LLC grew its holdings in Ralph Lauren by 8,937.8% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock worth $264,225,000 after acquiring an additional 952,681 shares during the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of Ralph Lauren during the third quarter worth $86,719,000. Jupiter Asset Management Ltd. acquired a new position in shares of Ralph Lauren during the third quarter worth $74,841,000. Allianz Asset Management GmbH increased its holdings in Ralph Lauren by 118.3% in the second quarter. Allianz Asset Management GmbH now owns 388,138 shares of the textile maker’s stock valued at $106,458,000 after purchasing an additional 210,343 shares during the period. Finally, Two Sigma Investments LP raised its position in Ralph Lauren by 137.1% during the 3rd quarter. Two Sigma Investments LP now owns 362,022 shares of the textile maker’s stock worth $113,516,000 after purchasing an additional 209,330 shares during the last quarter. Institutional investors and hedge funds own 67.91% of the company’s stock.

About Ralph Lauren

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.