Trade Report: The Ralph Lauren Corp. (RL) Upgraded to “Conviction-Buy” by Goldman Sachs Group Inc.

The Ralph Lauren Corp. (RL) Upgraded to “Conviction-Buy” by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. upgraded shares of Ralph Lauren Corp. (NYSE:RL) from a buy rating to a conviction-buy rating in a research note issued to investors on Friday. They currently have $120.00 price target on the stock.

A number of other analysts have also weighed in on the company. Vetr upgraded Ralph Lauren Corp. from a buy rating to a strong-buy rating and set a $101.29 target price for the company in a report on Monday, June 27th. Macquarie upped their target price on Ralph Lauren Corp. from $119.00 to $121.00 and gave the stock an outperform rating in a report on Tuesday, September 27th. Guggenheim assumed coverage on Ralph Lauren Corp. in a research report on Friday, September 30th. They set a neutral rating on the stock. Credit Agricole SA assumed coverage on Ralph Lauren Corp. in a research report on Wednesday, September 28th. They set a buy rating and a $125.00 price target on the stock. Finally, Deutsche Bank AG reaffirmed a hold rating and set a $95.00 price target (up from $85.00) on shares of Ralph Lauren Corp. in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $110.63.

Ralph Lauren Corp. (NYSE:RL) opened at 101.71 on Friday. Ralph Lauren Corp. has a 52-week low of $82.15 and a 52-week high of $137.38. The company’s 50-day moving average price is $101.69 and its 200 day moving average price is $96.93. The stock has a market capitalization of $8.37 billion, a P/E ratio of 27.80 and a beta of 1.17.

Ralph Lauren Corp. (NYSE:RL) last posted its earnings results on Wednesday, August 10th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. The company earned $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. Ralph Lauren Corp. had a return on equity of 14.50% and a net margin of 4.22%. Ralph Lauren Corp.’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share. On average, equities research analysts predict that Ralph Lauren Corp. will post $5.44 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Wednesday, September 28th. Ralph Lauren Corp.’s dividend payout ratio is presently 55.25%.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pacad Investment Ltd. bought a new position in shares of Ralph Lauren Corp. during the first quarter worth $221,000. Teachers Advisors Inc. raised its position in shares of Ralph Lauren Corp. by 80.3% in the first quarter. Teachers Advisors Inc. now owns 165,644 shares of the company’s stock worth $15,945,000 after buying an additional 73,794 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Ralph Lauren Corp. by 123.2% in the first quarter. Prudential Financial Inc. now owns 167,476 shares of the company’s stock worth $16,122,000 after buying an additional 92,440 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Ralph Lauren Corp. by 10.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,701,295 shares of the company’s stock worth $163,767,000 after buying an additional 161,047 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in shares of Ralph Lauren Corp. during the first quarter worth $1,448,000. 63.74% of the stock is currently owned by hedge funds and other institutional investors.

About Ralph Lauren Corp.

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