Ralph Lauren Co. (NYSE:RL) – Equities research analysts at Piper Sandler lowered their Q2 2022 earnings per share estimates for shares of Ralph Lauren in a research note issued to investors on Friday, May 21st. Piper Sandler analyst E. Murphy now expects that the textile maker will post earnings per share of $1.55 for the quarter, down from their prior estimate of $1.81. Piper Sandler has a “Overweight” rating and a $102.00 price objective on the stock. Piper Sandler also issued estimates for Ralph Lauren’s Q3 2022 earnings at $2.29 EPS, Q1 2023 earnings at $0.81 EPS, Q4 2023 earnings at $0.81 EPS and FY2024 earnings at $7.72 EPS.
A number of other research firms have also recently weighed in on RL. Needham & Company LLC increased their price objective on shares of Ralph Lauren from $82.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, February 1st. Cowen upgraded shares of Ralph Lauren from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $110.00 to $152.00 in a research report on Tuesday, May 4th. Wells Fargo & Company upped their price objective on shares of Ralph Lauren from $132.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, May 4th. BMO Capital Markets upped their price objective on shares of Ralph Lauren from $92.00 to $99.00 and gave the company a “market perform” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Ralph Lauren from $131.00 to $119.00 and set a “hold” rating for the company in a research report on Friday. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Ralph Lauren has an average rating of “Buy” and an average price target of $121.95.
Shares of RL stock opened at $121.09 on Monday. The company has a market capitalization of $8.85 billion, a PE ratio of -72.08, a price-to-earnings-growth ratio of 2.26 and a beta of 1.51. The firm has a fifty day simple moving average of $128.93 and a 200-day simple moving average of $110.45. The company has a current ratio of 2.66, a quick ratio of 2.03 and a debt-to-equity ratio of 0.63. Ralph Lauren has a twelve month low of $63.90 and a twelve month high of $142.06. Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Wednesday, May 19th. The textile maker reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $1.11. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.21 billion. Ralph Lauren had a negative net margin of 2.75% and a positive return on equity of 4.89%. Ralph Lauren’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.68) earnings per share.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RL. JPMorgan Chase & Co. grew its stake in shares of Ralph Lauren by 2.3% in the 1st quarter. JPMorgan Chase & Co. now owns 3,345,287 shares of the textile maker’s stock worth $412,007,000 after buying an additional 76,025 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in shares of Ralph Lauren by 97.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 2,273,453 shares of the textile maker’s stock worth $235,757,000 after buying an additional 1,123,953 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Ralph Lauren by 3.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,657,055 shares of the textile maker’s stock worth $171,903,000 after purchasing an additional 56,383 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Ralph Lauren by 146,501.5% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,617,014 shares of the textile maker’s stock worth $167,748,000 after purchasing an additional 1,615,911 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Ralph Lauren by 15.8% in the 4th quarter. Russell Investments Group Ltd. now owns 1,058,470 shares of the textile maker’s stock worth $109,833,000 after purchasing an additional 144,736 shares during the period. 60.66% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Andrew Howard Smith sold 9,763 shares of the business’s stock in a transaction on Thursday, February 25th. The stock was sold at an average price of $120.00, for a total transaction of $1,171,560.00. Also, CFO Jane Nielsen sold 10,627 shares of the business’s stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $127.69, for a total value of $1,356,961.63. Following the transaction, the chief financial officer now owns 114,341 shares of the company’s stock, valued at $14,600,202.29. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,554 shares of company stock worth $2,924,022. 35.28% of the stock is owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 9th. Investors of record on Friday, June 25th will be given a dividend of $0.6875 per share. The ex-dividend date of this dividend is Thursday, June 24th. This represents a $2.75 annualized dividend and a dividend yield of 2.27%.
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 accessories, which comprise 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 bedding and bath products, furniture, fabrics and wallpapers, lightings, tabletops, floorcoverings, and giftware; and fragrances.
