Ralph Lauren (NYSE:RL) Hits New 52-Week High After Analyst Upgrade

Ralph Lauren Corporation (NYSE:RL - Get Free Report) shares reached a new 52-week high during trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $300.00 to $320.00. Wells Fargo & Company currently has an overweight rating on the stock. Ralph Lauren traded as high as $299.00 and last traded at $294.79, with a volume of 98672 shares traded. The stock had previously closed at $288.31.

A number of other analysts have also recently weighed in on the company. The Goldman Sachs Group raised their price target on Ralph Lauren from $262.00 to $324.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Cowen reiterated a "buy" rating on shares of Ralph Lauren in a research report on Thursday, May 22nd. Bank of America lifted their target price on Ralph Lauren from $318.00 to $328.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. BMO Capital Markets lifted their target price on Ralph Lauren from $197.00 to $205.00 and gave the stock an "underperform" rating in a research report on Friday, May 23rd. Finally, Jefferies Financial Group lifted their target price on Ralph Lauren from $250.00 to $328.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $294.13.

Institutional Trading of Ralph Lauren

A number of institutional investors and hedge funds have recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its position in Ralph Lauren by 93.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker's stock valued at $27,000 after buying an additional 59 shares during the last quarter. Sentry Investment Management LLC raised its stake in Ralph Lauren by 178.0% during the first quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock worth $31,000 after acquiring an additional 89 shares during the period. Banque Transatlantique SA acquired a new stake in shares of Ralph Lauren in the first quarter valued at approximately $33,000. Brooklyn Investment Group increased its stake in shares of Ralph Lauren by 180.3% in the first quarter. Brooklyn Investment Group now owns 171 shares of the textile maker's stock valued at $38,000 after purchasing an additional 110 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Ralph Lauren in the first quarter valued at approximately $39,000. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Ralph Lauren Stock Up 1.0%

The firm's fifty day moving average price is $278.53 and its 200-day moving average price is $252.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.78 and a quick ratio of 1.33. The firm has a market capitalization of $18.00 billion, a P/E ratio of 25.70, a PEG ratio of 2.24 and a beta of 1.49.

Ralph Lauren (NYSE:RL - Get Free Report) last issued its earnings results on Thursday, May 22nd. The textile maker reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.00 by $0.27. Ralph Lauren had a net margin of 10.49% and a return on equity of 31.76%. The firm had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same period last year, the firm posted $1.71 earnings per share. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were given a $0.9125 dividend. This is an increase from Ralph Lauren's previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Friday, June 27th. This represents a $3.65 dividend on an annualized basis and a yield of 1.22%. Ralph Lauren's dividend payout ratio is presently 31.44%.

Ralph Lauren declared that its board has authorized a share repurchase plan on Thursday, May 22nd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the textile maker to reacquire up to 8.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

About Ralph Lauren

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