Ralph Lauren (NYSE:RL) Price Target Lowered to $130.00 at Credit Suisse Group

Ralph Lauren (NYSE:RLGet Rating) had its price target decreased by Credit Suisse Group from $165.00 to $130.00 in a research report sent to investors on Wednesday morning, The Fly reports. Credit Suisse Group currently has an outperform rating on the textile maker’s stock.

RL has been the topic of several other reports. JPMorgan Chase & Co. raised shares of Ralph Lauren from a neutral rating to an overweight rating and set a $142.00 target price on the stock in a report on Thursday, March 17th. Truist Financial boosted their price objective on shares of Ralph Lauren from $141.00 to $156.00 in a research report on Friday, February 4th. Zacks Investment Research downgraded Ralph Lauren from a strong-buy rating to a hold rating and set a $115.00 target price on the stock. in a report on Thursday, March 10th. Wells Fargo & Company cut Ralph Lauren from an overweight rating to an equal weight rating and lowered their price target for the stock from $135.00 to $110.00 in a report on Tuesday, April 5th. Finally, UBS Group raised their price objective on Ralph Lauren from $168.00 to $171.00 and gave the company a buy rating in a research note on Monday, February 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Buy and an average target price of $132.86.

Shares of NYSE RL opened at $95.29 on Wednesday. The stock has a market capitalization of $6.78 billion, a P/E ratio of 14.29 and a beta of 1.38. The stock’s fifty day moving average is $108.61 and its 200 day moving average is $115.69. Ralph Lauren has a 52 week low of $91.54 and a 52 week high of $135.99. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 1.88.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Friday, April 1st were paid a $0.6875 dividend. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $2.75 annualized dividend and a dividend yield of 2.89%. Ralph Lauren’s dividend payout ratio is 41.23%.

Ralph Lauren announced that its board has approved a share repurchase plan on Thursday, February 3rd that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the textile maker to buy up to 17.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Hedge funds have recently modified their holdings of the company. CWM LLC lifted its holdings in Ralph Lauren by 127.7% in the first quarter. CWM LLC now owns 230 shares of the textile maker’s stock valued at $26,000 after buying an additional 129 shares during the period. US Asset Management LLC acquired a new position in shares of Ralph Lauren in the 1st quarter valued at about $35,000. Daiwa Securities Group Inc. boosted its position in shares of Ralph Lauren by 38.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 453 shares of the textile maker’s stock valued at $54,000 after purchasing an additional 125 shares in the last quarter. Covestor Ltd acquired a new stake in Ralph Lauren during the fourth quarter worth approximately $57,000. Finally, IndexIQ Advisors LLC bought a new stake in Ralph Lauren in the fourth quarter worth approximately $84,000. 99.89% of the stock is owned by institutional investors.

Ralph Lauren Company Profile (Get Rating)

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 and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, umbrellas, and belts, 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, floor coverings, and giftware; and fragrances.

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