Ralph Lauren (NYSE:RL) Shares Gap Down – Here’s What Happened

Ralph Lauren Co. (NYSE:RL)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $236.35, but opened at $208.99. Ralph Lauren shares last traded at $197.86, with a volume of 298,909 shares changing hands.

Analysts Set New Price Targets

RL has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Ralph Lauren from $285.00 to $342.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Argus upgraded Ralph Lauren from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a report on Tuesday, December 31st. Wells Fargo & Company lifted their target price on Ralph Lauren from $225.00 to $275.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Raymond James lowered Ralph Lauren from an “outperform” rating to a “market perform” rating in a research note on Monday, January 27th. Finally, Needham & Company LLC assumed coverage on Ralph Lauren in a research note on Wednesday, February 12th. They issued a “buy” rating and a $310.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $284.62.

Ralph Lauren Stock Down 0.7 %

The firm has a 50 day simple moving average of $247.58 and a two-hundred day simple moving average of $227.14. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.31 and a current ratio of 1.76. The stock has a market cap of $12.14 billion, a P/E ratio of 17.93, a P/E/G ratio of 1.73 and a beta of 1.50.

Ralph Lauren (NYSE:RL) last announced its earnings results on Thursday, February 6th. The textile maker reported $4.82 EPS for the quarter, beating the consensus estimate of $4.46 by $0.36. Ralph Lauren had a return on equity of 30.88% and a net margin of 10.14%. Equities research analysts predict that Ralph Lauren Co. will post 12.01 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Friday, March 28th. Ralph Lauren’s dividend payout ratio (DPR) is presently 30.11%.

Hedge Funds Weigh In On Ralph Lauren

Several hedge funds have recently bought and sold shares of RL. Burney Co. acquired a new position in Ralph Lauren in the 4th quarter valued at $5,711,000. Citizens Financial Group Inc. RI acquired a new position in shares of Ralph Lauren during the 4th quarter worth about $3,014,000. Amundi lifted its holdings in shares of Ralph Lauren by 8.3% during the fourth quarter. Amundi now owns 195,208 shares of the textile maker’s stock worth $47,444,000 after buying an additional 14,889 shares during the last quarter. Keystone Investors PTE Ltd. bought a new stake in Ralph Lauren in the 4th quarter valued at $2,264,000. Finally, CWA Asset Management Group LLC lifted its stake in shares of Ralph Lauren by 31.9% in the fourth quarter. CWA Asset Management Group LLC now owns 11,913 shares of the textile maker’s stock valued at $2,752,000 after buying an additional 2,880 shares during the period. 67.91% of the stock is owned by institutional investors and hedge funds.

Ralph Lauren Company Profile

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.