Ralph Lauren Corp. (RL) Rating Increased to Conviction-Buy at Goldman Sachs Group Inc.
Ralph Lauren Corp. (NYSE:RL) was upgraded by equities researchers at Goldman Sachs Group Inc. from a “buy” rating to a “conviction-buy” rating in a note issued to investors on Friday, The Fly reports.
A number of other equities analysts have also commented on the stock. Vetr raised shares of Ralph Lauren Corp. from a “buy” rating to a “strong-buy” rating and set a $101.29 price target on the stock in a report on Monday, June 27th. Macquarie increased their target price on shares of Ralph Lauren Corp. from $119.00 to $121.00 and gave the company an “outperform” rating in a report on Tuesday, September 27th. Guggenheim initiated coverage on shares of Ralph Lauren Corp. in a report on Friday, September 30th. They set a “neutral” rating on the stock. Deutsche Bank AG reaffirmed a “hold” rating and set a $95.00 target price (up previously from $85.00) on shares of Ralph Lauren Corp. in a report on Wednesday, August 10th. Finally, Bank of America Corp. set a $110.00 target price on shares of Ralph Lauren Corp. and gave the company a “hold” rating in a report on Thursday, August 11th. Sixteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $110.63.
Ralph Lauren Corp. (NYSE:RL) traded up 1.58% during trading on Friday, reaching $103.01. 1,065,760 shares of the company traded hands. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 28.15 and a beta of 1.17. Ralph Lauren Corp. has a 12-month low of $82.15 and a 12-month high of $137.38. The firm’s 50 day moving average price is $102.37 and its 200 day moving average price is $96.77.
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Ralph Lauren Corp. (NYSE:RL) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.17. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. Ralph Lauren Corp. had a net margin of 4.22% and a return on equity of 14.50%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.09 EPS. Equities research analysts expect that Ralph Lauren Corp. will post $5.44 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.94%. Ralph Lauren Corp.’s dividend payout ratio is currently 55.25%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Southeastern Asset Management Inc. TN purchased a new stake in Ralph Lauren Corp. during the second quarter worth $245,238,000. Capital Research Global Investors raised its stake in shares of Ralph Lauren Corp. by 18.6% in the second quarter. Capital Research Global Investors now owns 2,550,003 shares of the company’s stock worth $228,531,000 after buying an additional 400,003 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Ralph Lauren Corp. by 9.2% in the first quarter. Wellington Management Group LLP now owns 2,036,266 shares of the company’s stock worth $196,010,000 after buying an additional 171,109 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Ralph Lauren Corp. by 10.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,701,295 shares of the company’s stock worth $163,767,000 after buying an additional 161,047 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Ralph Lauren Corp. during the second quarter worth approximately $106,337,000. Institutional investors and hedge funds own 63.74% of the company’s stock.
About Ralph Lauren Corp.
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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