Redhawk Wealth Advisors Inc. bought a new position in shares of Ralph Lauren Corporation (NYSE:RL – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,767 shares of the textile maker’s stock, valued at approximately $1,512,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Orion Porfolio Solutions LLC boosted its position in shares of 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 purchasing an additional 952,681 shares during the period. Invesco Ltd. increased its position in Ralph Lauren by 26.2% during the fourth quarter. Invesco Ltd. now owns 1,324,018 shares of the textile maker’s stock worth $468,186,000 after buying an additional 275,263 shares during the period. Goldman Sachs Group Inc. increased its position in Ralph Lauren by 40.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 895,017 shares of the textile maker’s stock worth $316,487,000 after buying an additional 255,511 shares during the period. AQR Capital Management LLC lifted its stake in Ralph Lauren by 38.6% in the fourth quarter. AQR Capital Management LLC now owns 881,360 shares of the textile maker’s stock valued at $311,658,000 after buying an additional 245,242 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Ralph Lauren by 70.5% in the fourth quarter. First Trust Advisors LP now owns 586,225 shares of the textile maker’s stock valued at $207,295,000 after buying an additional 242,386 shares during the last quarter. 67.91% of the stock is owned by hedge funds and other institutional investors.
Ralph Lauren Trading Down 2.3%
Shares of Ralph Lauren stock opened at $397.69 on Wednesday. The firm has a market cap of $23.67 billion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35. Ralph Lauren Corporation has a 52-week low of $283.50 and a 52-week high of $421.60. The company’s 50-day simple moving average is $390.03 and its 200-day simple moving average is $368.96. The company has a quick ratio of 1.42, a current ratio of 2.04 and a debt-to-equity ratio of 0.53.
Ralph Lauren Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.91. Ralph Lauren’s payout ratio is 25.20%.
Analysts Set New Price Targets
RL has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Ralph Lauren from $434.00 to $452.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Raymond James Financial reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Ralph Lauren in a report on Friday. Wells Fargo & Company upped 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. Evercore reiterated an “outperform” rating and set a $460.00 price target on shares of Ralph Lauren in a research note on Friday. Finally, Zacks Research downgraded shares of Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Sixteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $445.67.
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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