Ralph Lauren (NYSE:RL) Sets New 12-Month High - Here's What Happened

Ralph Lauren Corporation (NYSE:RL - Get Free Report)'s share price reached a new 52-week high on Wednesday . The stock traded as high as $289.84 and last traded at $289.78, with a volume of 100389 shares changing hands. The stock had previously closed at $284.92.

Analyst Ratings Changes

RL has been the subject of several recent research reports. Wall Street Zen lowered shares of Ralph Lauren from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Cowen reiterated a "buy" rating on shares of Ralph Lauren in a report on Thursday, May 22nd. Telsey Advisory Group reiterated an "outperform" rating and set a $315.00 target price on shares of Ralph Lauren in a report on Wednesday, June 18th. Jefferies Financial Group lifted their target price on shares of Ralph Lauren from $250.00 to $328.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Bank of America lifted their target price on shares of Ralph Lauren from $318.00 to $328.00 and gave the company a "buy" rating in a report on Friday, May 23rd. One investment 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 company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $292.88.

Ralph Lauren Stock Performance

The company has a market capitalization of $17.66 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 2.17 and a beta of 1.49. The business's fifty day moving average is $269.32 and its two-hundred day moving average is $247.79. The company has a current ratio of 1.78, a quick ratio of 1.33 and a debt-to-equity ratio of 0.38.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its earnings results on Thursday, May 22nd. The textile maker reported $2.27 earnings per share for the quarter, beating analysts' consensus estimates of $2.00 by $0.27. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.64 billion. Ralph Lauren had a net margin of 10.49% and a return on equity of 31.76%. The company's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.71 EPS. Equities research analysts predict 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 will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.9125 per share. The ex-dividend date is Friday, June 27th. This is a positive change from Ralph Lauren's previous quarterly dividend of $0.83. This represents a $3.65 dividend on an annualized basis and a yield of 1.25%. Ralph Lauren's payout ratio is currently 31.44%.

Ralph Lauren announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 22nd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the textile maker to purchase up to 8.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On Ralph Lauren

A number of hedge funds have recently added to or reduced their stakes in RL. US Bancorp DE raised its stake in Ralph Lauren by 17.2% during the 4th quarter. US Bancorp DE now owns 1,338 shares of the textile maker's stock valued at $309,000 after buying an additional 196 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Ralph Lauren by 281.1% during the 4th quarter. Jones Financial Companies Lllp now owns 202 shares of the textile maker's stock valued at $47,000 after acquiring an additional 149 shares during the period. Atria Investments Inc grew its position in shares of Ralph Lauren by 8.4% during the 4th quarter. Atria Investments Inc now owns 2,084 shares of the textile maker's stock valued at $481,000 after acquiring an additional 162 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Ralph Lauren during the 4th quarter valued at $10,777,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Ralph Lauren during the 4th quarter valued at $16,848,000. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Ralph Lauren Company Profile

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.