TD Waterhouse Canada Inc. Raises Stake in Ralph Lauren Corporation $RL

TD Waterhouse Canada Inc. grew its stake in Ralph Lauren Corporation (NYSE:RL) by 1,325.0% in the second quarter, Holdings Channel reports. The fund owned 171 shares of the textile maker’s stock after purchasing an additional 159 shares during the period. TD Waterhouse Canada Inc.’s holdings in Ralph Lauren were worth $47,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of 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 purchasing an additional 275,391 shares during the period. AQR Capital Management LLC boosted its holdings in Ralph Lauren by 55.7% in the 1st quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker’s stock valued at $245,468,000 after purchasing an additional 414,275 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Ralph Lauren by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,014,880 shares of the textile maker’s stock valued at $277,818,000 after buying an additional 15,785 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Ralph Lauren by 118.3% in the 2nd 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 position in shares of Ralph Lauren by 7.0% during the 2nd 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. Institutional investors and hedge funds own 67.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on RL. Weiss Ratings reiterated a “buy (b)” rating on shares of Ralph Lauren in a report on Wednesday, October 8th. Telsey Advisory Group lifted their target price on Ralph Lauren from $350.00 to $365.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. UBS Group increased their price target on Ralph Lauren from $421.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, November 7th. BTIG Research began coverage on Ralph Lauren in a research report on Tuesday, October 14th. They set a “buy” rating and a $400.00 price objective for the company. Finally, Barclays boosted their price objective on shares of Ralph Lauren from $352.00 to $358.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $347.13.

Ralph Lauren Price Performance

RL stock opened at $364.36 on Wednesday. The business’s fifty day moving average price is $324.12 and its 200 day moving average price is $299.84. Ralph Lauren Corporation has a 12-month low of $176.61 and a 12-month high of $365.81. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $22.10 billion, a PE ratio of 29.10, a P/E/G ratio of 1.63 and a beta of 1.61.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings results on Thursday, November 6th. The textile maker reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.45 by $0.34. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the company earned $2.54 earnings per share. The business’s quarterly revenue was up 16.5% on a year-over-year basis. On average, sell-side analysts anticipate that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 1.0%. Ralph Lauren’s payout ratio is 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.