Ralph Lauren (NYSE:RL) Sets New 52-Week High - Here's What Happened

Ralph Lauren Corporation (NYSE:RL - Get Free Report) shares reached a new 52-week high on Wednesday . The company 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 Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays increased their target price on shares of Ralph Lauren from $260.00 to $321.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Telsey Advisory Group reissued an "outperform" rating and issued a $315.00 price objective on shares of Ralph Lauren in a report on Wednesday, June 18th. Bank of America upped their target price on Ralph Lauren from $318.00 to $328.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Citigroup increased their target price on Ralph Lauren from $250.00 to $295.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Ralph Lauren from $275.00 to $300.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $292.88.

Ralph Lauren Stock Performance

The company has a quick ratio of 1.33, a current ratio of 1.78 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average of $270.64 and a 200 day moving average of $248.20. The stock has a market cap of $17.51 billion, a PE ratio of 25.00, a P/E/G ratio of 2.22 and a beta of 1.49.

Ralph Lauren (NYSE:RL - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The textile maker reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business earned $1.71 earnings per share. Ralph Lauren's revenue was up 8.3% compared to the same quarter last year. Equities analysts predict that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a dividend of $0.9125 per share. This represents a $3.65 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, June 27th. This is a positive change from Ralph Lauren's previous quarterly dividend of $0.83. Ralph Lauren's payout ratio is presently 31.44%.

Ralph Lauren announced that its board has initiated a stock repurchase program on Thursday, May 22nd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the textile maker to buy up to 8.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On Ralph Lauren

Several large investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB boosted its stake in Ralph Lauren by 93.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker's stock worth $27,000 after buying an additional 59 shares during the period. Sentry Investment Management LLC raised its position in Ralph Lauren by 178.0% in the first quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock valued at $31,000 after purchasing an additional 89 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Ralph Lauren by 1,270.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 137 shares of the textile maker's stock worth $32,000 after buying an additional 127 shares during the period. Banque Transatlantique SA purchased a new stake in shares of Ralph Lauren in the 1st quarter valued at $33,000. Finally, Brooklyn Investment Group lifted its stake in Ralph Lauren by 180.3% during the 1st quarter. Brooklyn Investment Group now owns 171 shares of the textile maker's stock worth $38,000 after acquiring an additional 110 shares in the last quarter. Institutional investors and hedge funds own 67.91% of the company's stock.

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.