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

Key Points

• Ralph Lauren Corporation reached a new 52-week high of $322.00, closing at $321.81 with a trading volume of 251,571 shares.
• Analysts have raised price targets for Ralph Lauren stock, with TD Cowen increasing it to $399.00 and Jefferies boosting it to $365.00, while the average rating remains a "Moderate Buy".
• The company declared a quarterly dividend of $0.9125 per share, representing an annualized yield of 1.1%, with an expected payout scheduled for October 10th.

Ralph Lauren Corporation (NYSE:RL - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $322.00 and last traded at $321.81, with a volume of 251571 shares traded. The stock had previously closed at $317.42.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RL shares. TD Cowen lifted their target price on Ralph Lauren from $354.00 to $399.00 and gave the stock a "buy" rating in a research report on Tuesday. Barclays lowered their target price on Ralph Lauren from $360.00 to $353.00 and set an "overweight" rating for the company in a report on Wednesday, September 17th. Jefferies Financial Group boosted their price objective on Ralph Lauren from $325.00 to $365.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Wells Fargo & Company upped their target price on Ralph Lauren from $320.00 to $345.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. Finally, Telsey Advisory Group upped their target price on Ralph Lauren from $335.00 to $350.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $320.53.

Ralph Lauren Trading Up 1.5%

The company has a market cap of $19.52 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 1.58 and a beta of 1.61. The company's fifty day moving average price is $302.21 and its two-hundred day moving average price is $268.38. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58.

Ralph Lauren (NYSE:RL - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 EPS for the quarter, beating the consensus estimate of $3.50 by $0.27. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The business had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same period in the prior year, the firm earned $2.70 earnings per share. Ralph Lauren's revenue was up 13.7% compared to the same quarter last year. Research analysts expect that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.9125 per share. This represents a $3.65 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 26th. Ralph Lauren's dividend payout ratio is 29.15%.

Hedge Funds Weigh In On Ralph Lauren

Hedge funds and other institutional investors have recently bought and sold shares of the business. OMNI 360 Wealth Inc. bought a new position in Ralph Lauren in the first quarter valued at approximately $248,000. Crossmark Global Holdings Inc. boosted its stake in Ralph Lauren by 13.5% in the first quarter. Crossmark Global Holdings Inc. now owns 22,590 shares of the textile maker's stock valued at $4,987,000 after acquiring an additional 2,684 shares during the last quarter. Truist Financial Corp boosted its position in shares of Ralph Lauren by 7.8% during the first quarter. Truist Financial Corp now owns 300,837 shares of the textile maker's stock worth $66,407,000 after purchasing an additional 21,681 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Ralph Lauren by 31.5% during the first quarter. BNP Paribas Financial Markets now owns 171,141 shares of the textile maker's stock worth $37,778,000 after purchasing an additional 40,977 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Ralph Lauren by 8.1% during the first quarter. Envestnet Asset Management Inc. now owns 237,479 shares of the textile maker's stock worth $52,421,000 after purchasing an additional 17,732 shares in the last quarter. 67.91% of the stock is owned by institutional investors.

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.

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