Barclays Cuts Ralph Lauren (NYSE:RL) Price Target to $353.00

Ralph Lauren (NYSE:RL) had its price objective reduced by Barclays from $360.00 to $353.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the textile maker’s stock.

Several other equities analysts have also recently issued reports on the stock. Telsey Advisory Group upped their price target on shares of Ralph Lauren from $315.00 to $335.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. The Goldman Sachs Group upped their price target on shares of Ralph Lauren from $262.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Cfra Research raised shares of Ralph Lauren from a “moderate sell” rating to a “hold” rating in a research note on Monday, August 11th. UBS Group upped their price objective on shares of Ralph Lauren from $385.00 to $404.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Ralph Lauren in a research note on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ralph Lauren has an average rating of “Moderate Buy” and a consensus target price of $311.41.

Ralph Lauren Price Performance

Shares of Ralph Lauren stock opened at $311.98 on Wednesday. Ralph Lauren has a twelve month low of $176.61 and a twelve month high of $321.77. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $298.68 and a two-hundred day simple moving average of $263.80. The stock has a market capitalization of $18.90 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 1.59 and a beta of 1.60.

Ralph Lauren (NYSE:RL) last issued its 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. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.70 EPS. Analysts forecast that Ralph Lauren will post 12.01 EPS for the current year.

Ralph Lauren Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be paid a dividend of $0.9125 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.65 annualized dividend and a yield of 1.2%. Ralph Lauren’s dividend payout ratio is currently 29.15%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ralph Lauren by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,258 shares of the textile maker’s stock worth $753,000 after buying an additional 110 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Ralph Lauren during the fourth quarter worth $305,000. Rafferty Asset Management LLC raised its holdings in Ralph Lauren by 13.4% during the fourth quarter. Rafferty Asset Management LLC now owns 3,740 shares of the textile maker’s stock worth $864,000 after buying an additional 443 shares during the last quarter. Royal Bank of Canada raised its holdings in Ralph Lauren by 51.1% during the fourth quarter. Royal Bank of Canada now owns 62,081 shares of the textile maker’s stock worth $14,340,000 after buying an additional 21,006 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in Ralph Lauren during the fourth quarter worth $558,000. Institutional investors and hedge funds 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.