Ralph Lauren (NYSE:RL) Given New $285.00 Price Target at Guggenheim

Ralph Lauren (NYSE:RL) had its price target boosted by Guggenheim from $260.00 to $285.00 in a report issued on Wednesday morning,Benzinga reports. Guggenheim currently has a buy rating on the textile maker’s stock.

Several other brokerages also recently issued reports on RL. Argus upgraded shares of Ralph Lauren from a “hold” rating to a “buy” rating and set a $250.00 price objective on the stock in a research note on Tuesday, December 31st. BNP Paribas upgraded shares of Ralph Lauren to a “strong-buy” rating in a research note on Thursday, January 23rd. StockNews.com upgraded shares of Ralph Lauren from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Raymond James downgraded shares of Ralph Lauren from an “outperform” rating to a “market perform” rating in a research note on Monday. Finally, Barclays lifted their price target on shares of Ralph Lauren from $200.00 to $257.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $244.91.

Ralph Lauren Trading Down 0.3 %

NYSE:RL opened at $256.68 on Wednesday. Ralph Lauren has a 12 month low of $142.26 and a 12 month high of $260.77. The firm has a market cap of $15.94 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 1.85 and a beta of 1.49. The company has a quick ratio of 1.18, a current ratio of 1.72 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $233.93 and its 200-day moving average is $201.85.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.11. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.68 billion. Ralph Lauren had a net margin of 10.15% and a return on equity of 29.44%. Ralph Lauren’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company posted $2.10 earnings per share. Equities analysts anticipate that Ralph Lauren will post 11.75 EPS for the current year.

Ralph Lauren Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.825 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.29%. Ralph Lauren’s dividend payout ratio is 31.46%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RL. Public Sector Pension Investment Board raised its holdings in shares of Ralph Lauren by 11.4% in the second quarter. Public Sector Pension Investment Board now owns 6,649 shares of the textile maker’s stock valued at $1,164,000 after buying an additional 683 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Ralph Lauren by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,955 shares of the textile maker’s stock worth $5,594,000 after purchasing an additional 595 shares during the last quarter. Creative Planning raised its holdings in Ralph Lauren by 15.4% during the 2nd quarter. Creative Planning now owns 1,952 shares of the textile maker’s stock worth $342,000 after purchasing an additional 261 shares during the last quarter. Quarry LP raised its holdings in Ralph Lauren by 423.4% during the 2nd quarter. Quarry LP now owns 717 shares of the textile maker’s stock worth $126,000 after purchasing an additional 580 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in Ralph Lauren by 42.5% during the 2nd quarter. Truist Financial Corp now owns 231,480 shares of the textile maker’s stock worth $40,523,000 after purchasing an additional 69,047 shares during 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.