Piper Jaffray Companies set a $81.00 price objective on Ralph Lauren Corporation (NYSE:RL) in a research report sent to investors on Thursday, October 19th. The brokerage currently has a sell rating on the textile maker’s stock.
RL has been the subject of a number of other research reports. Credit Suisse Group raised Ralph Lauren Corporation from a neutral rating to an outperform rating and set a $111.00 target price for the company in a report on Friday, September 8th. Zacks Investment Research raised Ralph Lauren Corporation from a hold rating to a buy rating and set a $97.00 price target for the company in a research note on Tuesday, October 10th. BidaskClub raised Ralph Lauren Corporation from a hold rating to a buy rating in a research note on Wednesday, June 28th. Needham & Company LLC reaffirmed a hold rating on shares of Ralph Lauren Corporation in a research note on Monday, October 16th. Finally, Royal Bank Of Canada reaffirmed a hold rating and issued a $88.00 price target on shares of Ralph Lauren Corporation in a research note on Thursday, October 5th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $87.37.
Shares of Ralph Lauren Corporation (NYSE:RL) traded down 0.19% during trading on Thursday, hitting $91.09. 1,300,621 shares of the stock were exchanged. The stock’s market cap is $7.40 billion. Ralph Lauren Corporation has a 12-month low of $66.06 and a 12-month high of $114.00. The stock’s 50 day moving average is $88.90 and its 200-day moving average is $79.99.
Ralph Lauren Corporation (NYSE:RL) last posted its earnings results on Tuesday, August 8th. The textile maker reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.15. Ralph Lauren Corporation had a positive return on equity of 13.80% and a negative net margin of 0.27%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm earned $1.06 earnings per share. The company’s revenue was down 13.2% on a year-over-year basis. Equities research analysts anticipate that Ralph Lauren Corporation will post $5.33 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.20%. The ex-dividend date was Thursday, September 28th. Ralph Lauren Corporation’s payout ratio is presently -869.57%.
A number of hedge funds have recently made changes to their positions in RL. BlackRock Inc. boosted its holdings in Ralph Lauren Corporation by 3,678.8% in the first quarter. BlackRock Inc. now owns 4,583,697 shares of the textile maker’s stock valued at $374,123,000 after acquiring an additional 4,462,396 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Ralph Lauren Corporation by 378.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,400,915 shares of the textile maker’s stock worth $324,786,000 after buying an additional 3,480,135 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Ralph Lauren Corporation by 9.5% during the 1st quarter. Vanguard Group Inc. now owns 5,708,885 shares of the textile maker’s stock worth $465,959,000 after buying an additional 495,685 shares in the last quarter. Bridgewater Associates LP boosted its holdings in shares of Ralph Lauren Corporation by 3,703.5% during the 2nd quarter. Bridgewater Associates LP now owns 317,058 shares of the textile maker’s stock worth $23,399,000 after buying an additional 308,722 shares in the last quarter. Finally, Balyasny Asset Management LLC boosted its holdings in shares of Ralph Lauren Corporation by 1,850.8% during the 2nd quarter. Balyasny Asset Management LLC now owns 276,294 shares of the textile maker’s stock worth $20,390,000 after buying an additional 262,131 shares in the last quarter. Institutional investors and hedge funds own 62.76% of the company’s stock.
Ralph Lauren Corporation Company Profile
Ralph Lauren Corporation is engaged in the design, marketing and distribution of lifestyle products, including apparel, accessories, home furnishings and other licensed product categories. The Company operates through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.
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