Ralph Lauren (NYSE:RL) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Ralph Lauren (NYSE:RL - Free Report) had its target price upped by The Goldman Sachs Group from $262.00 to $324.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the textile maker's stock.

Several other research analysts have also recently weighed in on the company. Guggenheim upped their price objective on Ralph Lauren from $285.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Wells Fargo & Company upped their price target on Ralph Lauren from $275.00 to $300.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $310.00 price target on shares of Ralph Lauren in a research report on Friday, May 23rd. Raymond James downgraded Ralph Lauren from an "outperform" rating to a "market perform" rating in a research report on Monday, January 27th. Finally, Cowen restated a "buy" rating on shares of Ralph Lauren in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Ralph Lauren currently has a consensus rating of "Moderate Buy" and an average price target of $292.88.

Ralph Lauren Stock Down 0.7%

Shares of RL traded down $2.06 on Friday, hitting $284.16. The company's stock had a trading volume of 592,639 shares, compared to its average volume of 832,760. The company has a quick ratio of 1.31, a current ratio of 1.76 and a debt-to-equity ratio of 0.39. The firm's fifty day moving average price is $230.53 and its 200-day moving average price is $236.59. Ralph Lauren has a fifty-two week low of $155.96 and a fifty-two week high of $289.33. The firm has a market capitalization of $17.55 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 1.73 and a beta of 1.44.

Ralph Lauren (NYSE:RL - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The textile maker reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.27. The company had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.64 billion. Ralph Lauren had a net margin of 10.14% and a return on equity of 30.88%. The business's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.71 earnings per share. On average, equities research analysts expect that Ralph Lauren will post 12.01 EPS for the current year.

Ralph Lauren Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.9125 per share. This is an increase from Ralph Lauren's previous quarterly dividend of $0.83. The ex-dividend date is Friday, June 27th. This represents a $3.65 annualized dividend and a yield of 1.28%. Ralph Lauren's dividend payout ratio (DPR) is currently 31.44%.

Ralph Lauren announced that its Board of Directors has initiated a stock buyback program on Thursday, May 22nd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the textile maker to repurchase up to 8.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Ralph Lauren

Hedge funds have recently bought and sold shares of the stock. Kestra Private Wealth Services LLC increased its holdings in shares of Ralph Lauren by 4.2% during the first quarter. Kestra Private Wealth Services LLC now owns 1,045 shares of the textile maker's stock worth $231,000 after purchasing an additional 42 shares during the period. Baader Bank Aktiengesellschaft increased its position in shares of Ralph Lauren by 3.4% in the first quarter. Baader Bank Aktiengesellschaft now owns 1,367 shares of the textile maker's stock worth $300,000 after purchasing an additional 45 shares during the period. Mather Group LLC. increased its holdings in Ralph Lauren by 4.1% in the 4th quarter. Mather Group LLC. now owns 1,182 shares of the textile maker's stock valued at $273,000 after buying an additional 47 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings 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 period. Finally, Asset Management One Co. Ltd. increased its holdings in Ralph Lauren by 6.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,005 shares of the textile maker's stock valued at $231,000 after buying an additional 62 shares during the period. 67.91% of the stock is currently owned by institutional investors and hedge funds.

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.