Telsey Advisory Group Boosts Ralph Lauren (NYSE:RL) Price Target to $207.00

Ralph Lauren (NYSE:RL) had its price objective hoisted by Telsey Advisory Group from $195.00 to $207.00 in a research note published on Friday morning, MarketBeat.com reports. The brokerage currently has an outperform rating on the textile maker’s stock.

A number of other brokerages also recently issued reports on RL. Guggenheim reissued a buy rating and set a $200.00 price target on shares of Ralph Lauren in a report on Friday, May 24th. Barclays upped their price objective on shares of Ralph Lauren from $195.00 to $200.00 and gave the stock an overweight rating in a research report on Thursday, August 8th. StockNews.com cut shares of Ralph Lauren from a buy rating to a hold rating in a research report on Friday, September 6th. TD Cowen reduced their price objective on shares of Ralph Lauren from $196.00 to $193.00 and set a buy rating for the company in a research report on Thursday, August 8th. Finally, Argus restated a hold rating on shares of Ralph Lauren in a research report on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Ralph Lauren currently has an average rating of Moderate Buy and a consensus price target of $186.00.

Ralph Lauren Stock Performance

Shares of NYSE RL opened at $185.90 on Friday. The company’s fifty day moving average price is $170.52 and its 200 day moving average price is $173.40. Ralph Lauren has a 1 year low of $108.60 and a 1 year high of $192.03. The company has a market capitalization of $11.62 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.53 and a current ratio of 2.19.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Wednesday, August 7th. The textile maker reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.25. Ralph Lauren had a net margin of 10.27% and a return on equity of 28.79%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm posted $2.34 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts predict that Ralph Lauren will post 11.23 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Friday, September 27th. Ralph Lauren’s dividend payout ratio (DPR) is 33.95%.

Institutional Investors Weigh In On Ralph Lauren

Hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new stake in shares of Ralph Lauren in the second quarter valued at about $715,000. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Ralph Lauren by 3,520.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 120,231 shares of the textile maker’s stock valued at $21,047,000 after purchasing an additional 116,910 shares during the period. Delphi Management Inc. MA grew its holdings in shares of Ralph Lauren by 2.0% in the second quarter. Delphi Management Inc. MA now owns 9,403 shares of the textile maker’s stock valued at $1,646,000 after purchasing an additional 183 shares during the period. Truist Financial Corp grew its holdings in shares of Ralph Lauren by 42.5% in the second quarter. Truist Financial Corp now owns 231,480 shares of the textile maker’s stock valued at $40,523,000 after purchasing an additional 69,047 shares during the period. Finally, Quarry LP boosted its stake in Ralph Lauren by 423.4% during the second quarter. Quarry LP now owns 717 shares of the textile maker’s stock worth $126,000 after buying an additional 580 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, lighting, tabletop, kitchen linens, floor coverings, and giftware; and fragrances.