Ralph Lauren (NYSE:RL) Sets New 12-Month High at $130.21

Posted by on Jul 13th, 2023

Ralph Lauren Co. (NYSE:RL – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $130.21 and last traded at $129.64, with a volume of 61402 shares traded. The stock had previously closed at $128.75.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. OTR Global upgraded Ralph Lauren to a “positive” rating in a research report on Friday, April 28th. Barclays boosted their price target on Ralph Lauren from $134.00 to $139.00 in a report on Friday, May 26th. StockNews.com started coverage on Ralph Lauren in a report on Thursday, May 18th. They issued a “buy” rating for the company. UBS Group boosted their price target on Ralph Lauren from $154.00 to $168.00 in a report on Friday, May 26th. Finally, TheStreet downgraded Ralph Lauren from a “b+” rating to a “c+” rating in a report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.08.

Ralph Lauren Trading Down 1.1 %

The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 1.01 and a beta of 1.40. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.51 and a current ratio of 2.23. The business has a fifty day moving average price of $116.68 and a 200 day moving average price of $116.62.

Ralph Lauren (NYSE:RL – Get Free Report) last released its quarterly earnings data on Thursday, May 25th. The textile maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.25. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.47 billion. Ralph Lauren had a return on equity of 24.19% and a net margin of 8.11%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. As a group, equities analysts forecast that Ralph Lauren Co. will post 9.43 earnings per share for the current year.

Ralph Lauren Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $3.00 dividend on an annualized basis and a yield of 2.32%. Ralph Lauren’s dividend payout ratio (DPR) is 39.53%.

Insider Buying and Selling

In related news, CEO Patrice Louvet sold 9,272 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $125.00, for a total transaction of $1,159,000.00. Following the completion of the sale, the chief executive officer now directly owns 193,060 shares of the company’s stock, valued at approximately $24,132,500. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 39.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ralph Lauren

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RL. Victory Capital Management Inc. lifted its position in shares of Ralph Lauren by 357.1% during the first quarter. Victory Capital Management Inc. now owns 2,509,833 shares of the textile maker’s stock worth $292,822,000 after purchasing an additional 1,960,802 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Ralph Lauren by 71.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,532,719 shares of the textile maker’s stock worth $161,962,000 after purchasing an additional 640,694 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of Ralph Lauren during the first quarter worth about $40,466,000. Alyeska Investment Group L.P. lifted its position in shares of Ralph Lauren by 440.8% during the first quarter. Alyeska Investment Group L.P. now owns 393,259 shares of the textile maker’s stock worth $45,882,000 after purchasing an additional 320,547 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Ralph Lauren by 1,687.4% during the first quarter. Envestnet Asset Management Inc. now owns 269,999 shares of the textile maker’s stock worth $1,829,000 after purchasing an additional 254,893 shares during the last quarter. 73.95% of the stock is owned by hedge funds and other institutional investors.

About Ralph Lauren

(Get Free Report)

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, lighting, tabletop, kitchen linens, floor coverings, and giftware; and fragrances.

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