Swedbank AB lifted its holdings in shares of Ralph Lauren Corporation (NYSE:RL – Free Report) by 20.0% during the first quarter, HoldingsChannel reports. The firm owned 150,000 shares of the textile maker’s stock after purchasing an additional 25,000 shares during the quarter. Swedbank AB’s holdings in Ralph Lauren were worth $51,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Collaborative Fund Advisors LLC bought a new position in Ralph Lauren during the first quarter valued at about $462,000. DGS Capital Management LLC raised its position in Ralph Lauren by 19.8% in the first quarter. DGS Capital Management LLC now owns 696 shares of the textile maker’s stock worth $239,000 after acquiring an additional 115 shares during the period. Ascentis Independent Advisors purchased a new position in Ralph Lauren in the first quarter valued at about $833,000. Praxis Investment Management Inc. boosted its stake in Ralph Lauren by 9.4% in the first quarter. Praxis Investment Management Inc. now owns 1,138 shares of the textile maker’s stock valued at $391,000 after acquiring an additional 98 shares during the last quarter. Finally, HB Wealth Management LLC grew its position in shares of Ralph Lauren by 21.7% during the 1st quarter. HB Wealth Management LLC now owns 3,070 shares of the textile maker’s stock valued at $1,056,000 after acquiring an additional 548 shares during the period. 67.91% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of Ralph Lauren in a research note on Thursday, May 21st. Bank of America increased their price objective on Ralph Lauren from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Zacks Research downgraded Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. UBS Group boosted their target price on Ralph Lauren from $480.00 to $511.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Finally, Telsey Advisory Group increased their price target on Ralph Lauren from $435.00 to $460.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Ralph Lauren presently has a consensus rating of “Moderate Buy” and a consensus target price of $430.07.
Ralph Lauren Stock Performance
Ralph Lauren stock opened at $395.67 on Wednesday. Ralph Lauren Corporation has a 1-year low of $273.04 and a 1-year high of $421.60. The company has a current ratio of 2.13, a quick ratio of 1.57 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $23.55 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 1.97 and a beta of 1.34. The firm’s 50 day simple moving average is $376.54 and its 200 day simple moving average is $365.33.
Ralph Lauren (NYSE:RL – Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.28. Ralph Lauren had a net margin of 11.60% and a return on equity of 38.17%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the firm posted $2.27 earnings per share. The business’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, analysts expect that Ralph Lauren Corporation will post 18.33 earnings per share for the current fiscal year.
Ralph Lauren Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, June 26th. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 1.0%. Ralph Lauren’s dividend payout ratio (DPR) is presently 26.47%.
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.
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