Ralph Lauren (NYSE:RL) Hits New 52-Week High – Here’s Why

Ralph Lauren Co. (NYSE:RL) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $246.78 and last traded at $246.18, with a volume of 110702 shares changing hands. The stock had previously closed at $240.46.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. StockNews.com raised shares of Ralph Lauren from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. TD Cowen boosted their target price on shares of Ralph Lauren from $208.00 to $251.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Barclays increased their price target on shares of Ralph Lauren from $200.00 to $257.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Telsey Advisory Group reissued an “outperform” rating and issued a $207.00 price objective on shares of Ralph Lauren in a report on Thursday, November 7th. Finally, UBS Group increased their target price on Ralph Lauren from $287.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ralph Lauren currently has an average rating of “Moderate Buy” and a consensus price target of $228.09.

Ralph Lauren Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.72 and a quick ratio of 1.18. The company has a fifty day moving average price of $229.15 and a 200 day moving average price of $199.24. The company has a market capitalization of $15.93 billion, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 1.83 and a beta of 1.49.

Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.11. Ralph Lauren had a return on equity of 29.44% and a net margin of 10.15%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the firm posted $2.10 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, sell-side analysts forecast that Ralph Lauren Co. will post 11.75 EPS for the current fiscal year.

Ralph Lauren Announces Dividend

The company also recently disclosed 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 (DPR) is presently 31.46%.

Institutional Investors Weigh In On Ralph Lauren

A number of hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its stake in shares of Ralph Lauren by 158.1% during the second quarter. AQR Capital Management LLC now owns 863,336 shares of the textile maker’s stock valued at $149,478,000 after acquiring an additional 528,778 shares during the period. Lord Abbett & CO. LLC bought a new position in Ralph Lauren during the 3rd quarter valued at $94,831,000. Pacer Advisors Inc. increased its position in shares of Ralph Lauren by 13.7% during the 3rd quarter. Pacer Advisors Inc. now owns 1,139,975 shares of the textile maker’s stock valued at $221,007,000 after purchasing an additional 137,631 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of Ralph Lauren by 3,520.3% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 120,231 shares of the textile maker’s stock worth $21,047,000 after buying an additional 116,910 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new stake in shares of Ralph Lauren in the third quarter valued at $19,320,000. Institutional investors own 67.91% of the company’s stock.

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.