Ralph Lauren Corp (NYSE:RL) declared a quarterly dividend on Wednesday, May 15th, Wall Street Journal reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.6875 per share by the textile maker on Friday, July 12th. This represents a $2.75 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, June 27th. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.63.
Ralph Lauren has raised its dividend by an average of 4.9% per year over the last three years. Ralph Lauren has a dividend payout ratio of 41.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ralph Lauren to earn $7.62 per share next year, which means the company should continue to be able to cover its $2.75 annual dividend with an expected future payout ratio of 36.1%.
RL stock opened at $113.95 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.18 and a current ratio of 2.90. The firm has a market capitalization of $9.30 billion, a PE ratio of 18.90, a P/E/G ratio of 1.51 and a beta of 0.69. Ralph Lauren has a twelve month low of $95.63 and a twelve month high of $147.79.
In other Ralph Lauren news, Director Joyce F. Brown sold 2,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $126.00, for a total transaction of $252,000.00. Following the completion of the transaction, the director now owns 7,278 shares in the company, valued at approximately $917,028. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 32.49% of the stock is currently owned by corporate insiders.
Several analysts recently commented on the company. Deutsche Bank dropped their price objective on Ralph Lauren from $160.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $155.00 price objective on shares of Ralph Lauren in a research note on Wednesday. UBS Group raised their price objective on Ralph Lauren from $127.00 to $136.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Bank of America dropped their price objective on Ralph Lauren from $114.00 to $108.00 and set an “underperform” rating on the stock in a research note on Wednesday. Finally, Nomura dropped their price objective on Ralph Lauren from $129.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Ralph Lauren currently has an average rating of “Buy” and an average price target of $137.47.
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About Ralph Lauren
Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. It offers apparel, including a range of men's, women's, and children's clothing accessories, which comprise footwear, eyewear, watches, fashion and fine jewelry, hats, gloves, umbrellas, belts, and 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.
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