Chevy Chase Trust Holdings LLC Grows Stock Position in Ralph Lauren Corporation $RL

Chevy Chase Trust Holdings LLC raised its position in Ralph Lauren Corporation (NYSE:RL) by 0.9% during the second quarter, Holdings Channel.com reports. The firm owned 21,132 shares of the textile maker’s stock after buying an additional 182 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Ralph Lauren were worth $5,796,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Invesco Ltd. raised its holdings in Ralph Lauren by 22.3% in the first quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker’s stock valued at $333,958,000 after buying an additional 275,391 shares during the period. AQR Capital Management LLC raised its holdings in Ralph Lauren by 55.7% in the first quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker’s stock valued at $245,468,000 after buying an additional 414,275 shares during the period. Jennison Associates LLC raised its holdings in Ralph Lauren by 16.5% in the first quarter. Jennison Associates LLC now owns 565,687 shares of the textile maker’s stock valued at $124,870,000 after buying an additional 79,934 shares during the period. Allianz Asset Management GmbH raised its holdings in Ralph Lauren by 118.3% in the second quarter. Allianz Asset Management GmbH now owns 388,138 shares of the textile maker’s stock valued at $106,458,000 after buying an additional 210,343 shares during the period. Finally, Truist Financial Corp raised its holdings in Ralph Lauren by 7.0% in the second quarter. Truist Financial Corp now owns 322,020 shares of the textile maker’s stock valued at $88,324,000 after buying an additional 21,183 shares during the period. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Ralph Lauren Stock Up 1.5%

Shares of Ralph Lauren stock opened at $332.72 on Tuesday. The firm has a market cap of $20.15 billion, a price-to-earnings ratio of 26.57, a P/E/G ratio of 1.63 and a beta of 1.61. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.30. Ralph Lauren Corporation has a 52-week low of $176.61 and a 52-week high of $333.14. The stock has a 50-day simple moving average of $308.79 and a 200-day simple moving average of $278.13.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.27. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.65 billion. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The firm’s revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.70 EPS. On average, equities research analysts expect that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were issued a dividend of $0.9125 per share. This represents a $3.65 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, September 26th. Ralph Lauren’s payout ratio is currently 29.15%.

Analyst Ratings Changes

RL has been the subject of several recent research reports. Jefferies Financial Group increased their price objective on shares of Ralph Lauren from $325.00 to $365.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. TD Cowen increased their price objective on shares of Ralph Lauren from $354.00 to $399.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. JPMorgan Chase & Co. increased their price objective on shares of Ralph Lauren from $423.00 to $430.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. BTIG Research assumed coverage on shares of Ralph Lauren in a research report on Tuesday, October 14th. They set a “buy” rating and a $400.00 price target for the company. Finally, Barclays decreased their price target on shares of Ralph Lauren from $353.00 to $352.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $333.94.

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.