Quantinno Capital Management LP lifted its holdings in shares of Ralph Lauren Corporation (NYSE:RL – Free Report) by 24.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 328,660 shares of the textile maker’s stock after acquiring an additional 65,361 shares during the period. Quantinno Capital Management LP owned approximately 0.54% of Ralph Lauren worth $113,056,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in RL. M&T Bank Corp lifted its position in shares of Ralph Lauren by 6,216.7% during the 4th quarter. M&T Bank Corp now owns 73,337 shares of the textile maker’s stock worth $25,933,000 after buying an additional 72,176 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Ralph Lauren by 28.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 41,688 shares of the textile maker’s stock valued at $14,741,000 after acquiring an additional 9,133 shares during the period. Vest Financial LLC raised its stake in Ralph Lauren by 177.9% during the fourth quarter. Vest Financial LLC now owns 54,701 shares of the textile maker’s stock worth $19,343,000 after acquiring an additional 35,016 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in Ralph Lauren by 106.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 63,180 shares of the textile maker’s stock worth $22,552,000 after acquiring an additional 32,622 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of Ralph Lauren by 8.1% during the fourth quarter. Truist Financial Corp now owns 371,086 shares of the textile maker’s stock valued at $131,220,000 after acquiring an additional 27,848 shares during the period. 67.91% of the stock is owned by institutional investors.
Ralph Lauren Stock Performance
Shares of NYSE:RL opened at $380.11 on Tuesday. Ralph Lauren Corporation has a twelve month low of $273.04 and a twelve month high of $421.60. The firm has a market cap of $22.62 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.85 and a beta of 1.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.57 and a current ratio of 2.13. The business has a fifty day moving average of $385.04 and a 200-day moving average of $367.23.
Ralph Lauren Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were paid a $1.00 dividend. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 26th. Ralph Lauren’s payout ratio is presently 26.47%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the stock. Bank of America upped their target price on shares of Ralph Lauren from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. BTIG Research reissued a “buy” rating and set a $450.00 price target on shares of Ralph Lauren in a report on Friday, May 22nd. Wells Fargo & Company boosted their price target on shares of Ralph Lauren from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of Ralph Lauren in a research note on Thursday, May 21st. Finally, Zacks Research lowered shares of Ralph Lauren from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $430.79.
Read Our Latest Research Report on RL
Ralph Lauren Company 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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