Ralph Lauren (NYSE:RL) Shares Gap Up After Dividend Announcement

Ralph Lauren Co. (NYSE:RL – Get Rating) gapped up before the market opened on Monday after the company announced a dividend. The stock had previously closed at $93.49, but opened at $96.00. Ralph Lauren shares last traded at $95.58, with a volume of 6,119 shares. The newly announced dividend which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.13%. Ralph Lauren’s payout ratio is currently 39.63%.

Wall Street Analysts Forecast Growth

A number of equity research analysts have issued reports on the stock. UBS Group decreased their price target on shares of Ralph Lauren from $162.00 to $129.00 in a report on Friday, July 15th. Credit Suisse Group lowered their target price on Ralph Lauren from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, August 5th. JPMorgan Chase & Co. upped their price target on Ralph Lauren from $122.00 to $130.00 in a report on Friday. Wells Fargo & Company lowered their price objective on shares of Ralph Lauren to $95.00 in a research note on Wednesday, May 25th. Finally, Cowen cut their target price on shares of Ralph Lauren from $142.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, August 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $118.00.

Ralph Lauren Stock Performance

The stock has a fifty-day moving average price of $95.51 and a 200-day moving average price of $100.52. The company has a current ratio of 2.05, a quick ratio of 1.37 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 3.97 and a beta of 1.38.

Institutional Investors Weigh In On Ralph Lauren

Several large investors have recently made changes to their positions in RL. CWM LLC increased its holdings in Ralph Lauren by 127.7% during the 1st quarter. CWM LLC now owns 230 shares of the textile maker’s stock valued at $26,000 after purchasing an additional 129 shares in the last quarter. US Asset Management LLC acquired a new position in Ralph Lauren during the 1st quarter worth about $35,000. Covestor Ltd increased its position in Ralph Lauren by 89.6% in the 1st quarter. Covestor Ltd now owns 916 shares of the textile maker’s stock valued at $104,000 after acquiring an additional 433 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Ralph Lauren in the second quarter worth about $111,000. Finally, Mystic Asset Management Inc. bought a new position in shares of Ralph Lauren in the fourth quarter worth about $118,000. Institutional investors own 63.02% of the company’s stock.

About Ralph Lauren

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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 includes 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.

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