Ralph Lauren Corporation $RL Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its stake in Ralph Lauren Corporation (NYSE:RL) by 23.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,381 shares of the textile maker’s stock after purchasing an additional 1,208 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ralph Lauren were worth $1,750,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC increased its stake in shares of Ralph Lauren by 4.2% in the 1st quarter. Kestra Private Wealth Services LLC now owns 1,045 shares of the textile maker’s stock worth $231,000 after acquiring an additional 42 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Ralph Lauren by 325.4% in the first quarter. IFP Advisors Inc now owns 587 shares of the textile maker’s stock valued at $130,000 after purchasing an additional 449 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Ralph Lauren by 5.1% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 26,756 shares of the textile maker’s stock worth $5,906,000 after purchasing an additional 1,287 shares during the last quarter. SYM FINANCIAL Corp increased its position in Ralph Lauren by 28.4% during the first quarter. SYM FINANCIAL Corp now owns 1,279 shares of the textile maker’s stock worth $282,000 after purchasing an additional 283 shares during the last quarter. Finally, City National Bank of Florida MSD purchased a new position in Ralph Lauren during the first quarter worth about $206,000. Institutional investors and hedge funds own 67.91% of the company’s stock.

Analyst Upgrades and Downgrades

RL has been the subject of a number of recent analyst reports. Evercore ISI raised their price target on shares of Ralph Lauren from $340.00 to $375.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. TD Cowen increased their price objective on Ralph Lauren from $354.00 to $399.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Barclays lifted their target price on Ralph Lauren from $352.00 to $358.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. BTIG Research initiated coverage on Ralph Lauren in a report on Tuesday, October 14th. They set a “buy” rating and a $400.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on shares of Ralph Lauren from $320.00 to $345.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $347.13.

Ralph Lauren Price Performance

Shares of NYSE RL opened at $330.75 on Thursday. The firm has a market capitalization of $20.06 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 1.63 and a beta of 1.61. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.84. Ralph Lauren Corporation has a fifty-two week low of $176.61 and a fifty-two week high of $342.99. The stock’s 50-day simple moving average is $321.74 and its 200-day simple moving average is $296.59.

Ralph Lauren (NYSE:RL) last posted its earnings results on Thursday, November 6th. The textile maker reported $3.79 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.34. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.88 billion. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The company’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm posted $2.54 EPS. As a group, equities research analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were paid a $0.9125 dividend. The ex-dividend date was Friday, September 26th. This represents a $3.65 dividend on an annualized basis and a yield of 1.1%. Ralph Lauren’s payout ratio is currently 26.98%.

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; 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.