Ralph Lauren Corporation (NYSE:RL – Get Free Report) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 1,560,000 shares, a growth of 25.8% from the August 15th total of 1,240,000 shares. Based on an average daily volume of 677,800 shares, the short-interest ratio is presently 2.3 days. Currently, 4.2% of the company’s stock are sold short. Currently, 4.2% of the company’s stock are sold short. Based on an average daily volume of 677,800 shares, the short-interest ratio is presently 2.3 days.
Hedge Funds Weigh In On Ralph Lauren
A number of large investors have recently made changes to their positions in RL. Hantz Financial Services Inc. increased its stake in shares of Ralph Lauren by 1,228.6% during the second quarter. Hantz Financial Services Inc. now owns 93 shares of the textile maker’s stock worth $26,000 after purchasing an additional 86 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of Ralph Lauren by 93.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker’s stock worth $27,000 after purchasing an additional 59 shares during the period. CYBER HORNET ETFs LLC bought a new position in shares of Ralph Lauren during the second quarter worth approximately $28,000. Sentry Investment Management LLC increased its stake in shares of Ralph Lauren by 178.0% during the first quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker’s stock worth $31,000 after purchasing an additional 89 shares during the period. Finally, MUFG Securities EMEA plc bought a new position in shares of Ralph Lauren during the second quarter worth approximately $32,000. Institutional investors own 67.91% of the company’s stock.
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Ralph Lauren Stock Performance
RL opened at $314.09 on Friday. Ralph Lauren has a 12-month low of $176.61 and a 12-month high of $321.77. The stock has a market cap of $19.02 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 1.55 and a beta of 1.60. The business has a 50 day moving average of $298.18 and a 200-day moving average of $263.39. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58.
Ralph Lauren (NYSE:RL – Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The textile maker reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.27. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm posted $2.70 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. On average, equities research analysts expect that Ralph Lauren will post 12.01 earnings per share for the current year.
Ralph Lauren Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.9125 per share. The ex-dividend date is Friday, September 26th. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.2%. Ralph Lauren’s dividend payout ratio (DPR) is 29.15%.
Ralph Lauren declared that its Board of Directors has authorized a share buyback program on Thursday, May 22nd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the textile maker to buy up to 8.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
RL has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on Ralph Lauren from $262.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Evercore ISI increased their price target on Ralph Lauren from $320.00 to $335.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Barclays reduced their price target on Ralph Lauren from $360.00 to $353.00 and set an “overweight” rating for the company in a research report on Wednesday. UBS Group increased their price target on Ralph Lauren from $385.00 to $404.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Finally, Jefferies Financial Group increased their price target on Ralph Lauren from $325.00 to $365.00 and gave the company a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $311.41.
Read Our Latest Stock Analysis on RL
About Ralph Lauren
(Get Free Report)
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.
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