OVERSEA CHINESE BANKING Corp Ltd Acquires New Holdings in Ralph Lauren Corporation $RL

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Ralph Lauren Corporation (NYSE:RL) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 15,906 shares of the textile maker’s stock, valued at approximately $5,625,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RL. Orion Porfolio Solutions LLC raised its holdings in Ralph Lauren by 8,937.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock valued at $264,225,000 after buying an additional 952,681 shares during the period. Rakuten Investment Management Inc. purchased a new stake in Ralph Lauren in the 3rd quarter valued at about $86,719,000. Jupiter Asset Management Ltd. purchased a new stake in Ralph Lauren in the 3rd quarter valued at about $74,841,000. Two Sigma Investments LP raised its holdings in Ralph Lauren by 137.1% in the 3rd quarter. Two Sigma Investments LP now owns 362,022 shares of the textile maker’s stock valued at $113,516,000 after buying an additional 209,330 shares during the period. Finally, Scopus Asset Management L.P. raised its holdings in Ralph Lauren by 190.3% in the 3rd quarter. Scopus Asset Management L.P. now owns 221,500 shares of the textile maker’s stock valued at $69,454,000 after buying an additional 145,189 shares during the period. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Ralph Lauren Price Performance

RL stock opened at $387.28 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 1.52 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $23.44 billion, a PE ratio of 26.36, a P/E/G ratio of 1.37 and a beta of 1.46. Ralph Lauren Corporation has a 12-month low of $204.95 and a 12-month high of $393.41. The business’s fifty day moving average price is $358.09 and its 200 day moving average price is $351.46.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings data on Thursday, February 5th. The textile maker reported $6.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.42. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.30 billion. Ralph Lauren had a return on equity of 37.97% and a net margin of 11.73%.The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.82 EPS. On average, sell-side analysts anticipate that Ralph Lauren Corporation will post 16.25 EPS for the current year.

Ralph Lauren Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were issued a dividend of $0.9125 per share. The ex-dividend date was Friday, March 27th. This represents a $3.65 annualized dividend and a yield of 0.9%. Ralph Lauren’s dividend payout ratio is 24.85%.

Insiders Place Their Bets

In other Ralph Lauren news, CEO Patrice Louvet sold 47,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $354.22, for a total transaction of $16,648,340.00. Following the sale, the chief executive officer owned 85,552 shares in the company, valued at $30,304,229.44. This represents a 35.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 38.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RL shares. Barclays boosted their price objective on shares of Ralph Lauren from $416.00 to $430.00 and gave the company an “overweight” rating in a report on Friday, March 6th. BTIG Research boosted their price objective on Ralph Lauren from $400.00 to $435.00 and gave the company a “buy” rating in a report on Friday, February 6th. Argus boosted their price objective on Ralph Lauren from $360.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, January 15th. UBS Group reiterated a “buy” rating on shares of Ralph Lauren in a report on Tuesday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft set a $422.00 price objective on Ralph Lauren in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ralph Lauren presently has a consensus rating of “Moderate Buy” and a consensus price target of $399.19.

Ralph Lauren Profile

Ralph Lauren Corporation (NYSE: RL) is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men’s neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren’s product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.