Bank of America Issues Positive Forecast for Ralph Lauren (NYSE:RL) Stock Price

Ralph Lauren (NYSE:RL) had its price objective upped by Bank of America from $400.00 to $450.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the textile maker’s stock.

RL has been the topic of a number of other research reports. Weiss Ratings upgraded Ralph Lauren from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Jefferies Financial Group lowered their target price on Ralph Lauren from $425.00 to $410.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Barclays upped their target price on Ralph Lauren from $416.00 to $430.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. Evercore set a $420.00 target price on Ralph Lauren and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, UBS Group restated a “buy” rating on shares of Ralph Lauren in a research note on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $399.19.

Ralph Lauren Stock Up 0.0%

Ralph Lauren stock opened at $369.36 on Thursday. Ralph Lauren has a fifty-two week low of $198.62 and a fifty-two week high of $389.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.52 and a current ratio of 2.10. The company has a market cap of $22.36 billion, a PE ratio of 25.14, a PEG ratio of 1.30 and a beta of 1.46. The business’s 50-day simple moving average is $355.75 and its two-hundred day simple moving average is $349.49.

Ralph Lauren (NYSE:RL) last issued its earnings results on Thursday, February 5th. The textile maker reported $6.22 EPS for the quarter, topping analysts’ consensus estimates of $5.80 by $0.42. Ralph Lauren had a return on equity of 37.97% and a net margin of 11.73%.The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the business earned $4.82 earnings per share. The company’s revenue was up 12.2% compared to the same quarter last year. Equities analysts anticipate that Ralph Lauren will post 12.01 EPS for the current year.

Ralph Lauren Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 27th were issued a $0.9125 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $3.65 dividend on an annualized basis and a yield of 1.0%. Ralph Lauren’s dividend payout ratio is presently 24.85%.

Insiders Place Their Bets

In related news, CEO Patrice Louvet sold 47,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $354.22, for a total value of $16,648,340.00. Following the completion of the transaction, the chief executive officer owned 85,552 shares of the company’s stock, valued at approximately $30,304,229.44. This represents a 35.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 38.34% of the company’s stock.

Hedge Funds Weigh In On Ralph Lauren

A number of large investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund grew its position in Ralph Lauren by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,425 shares of the textile maker’s stock worth $1,565,000 after acquiring an additional 31 shares during the period. Smartleaf Asset Management LLC grew its position in Ralph Lauren by 14.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 251 shares of the textile maker’s stock worth $90,000 after acquiring an additional 31 shares during the period. Sumitomo Mitsui Financial Group Inc. grew its position in Ralph Lauren by 0.3% in the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 11,762 shares of the textile maker’s stock worth $3,688,000 after acquiring an additional 32 shares during the period. Wedmont Private Capital grew its position in Ralph Lauren by 3.1% in the third quarter. Wedmont Private Capital now owns 1,114 shares of the textile maker’s stock worth $362,000 after acquiring an additional 34 shares during the period. Finally, Johnson Investment Counsel Inc. grew its position in Ralph Lauren by 0.4% in the third quarter. Johnson Investment Counsel Inc. now owns 9,311 shares of the textile maker’s stock worth $2,920,000 after acquiring an additional 34 shares during the period. 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.