Rhumbline Advisers Buys 32,877 Shares of Ralph Lauren Corporation $RL

Rhumbline Advisers increased its stake in shares of Ralph Lauren Corporation (NYSE:RL) by 43.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 108,300 shares of the textile maker’s stock after purchasing an additional 32,877 shares during the quarter. Rhumbline Advisers’ holdings in Ralph Lauren were worth $29,704,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. IFP Advisors Inc increased its position in Ralph Lauren by 325.4% during the first quarter. IFP Advisors Inc now owns 587 shares of the textile maker’s stock valued at $130,000 after acquiring an additional 449 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Ralph Lauren by 5.0% during the 1st quarter. Cetera Investment Advisers now owns 10,644 shares of the textile maker’s stock worth $2,350,000 after purchasing an additional 509 shares during the period. Skandinaviska Enskilda Banken AB publ grew its holdings in Ralph Lauren by 32.2% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 1,538 shares of the textile maker’s stock valued at $339,000 after purchasing an additional 375 shares during the last quarter. HB Wealth Management LLC raised its position in Ralph Lauren by 81.2% in the 1st quarter. HB Wealth Management LLC now owns 2,134 shares of the textile maker’s stock worth $471,000 after purchasing an additional 956 shares during the period. Finally, TD Asset Management Inc lifted its stake in Ralph Lauren by 1.7% in the first quarter. TD Asset Management Inc now owns 41,526 shares of the textile maker’s stock worth $9,166,000 after purchasing an additional 702 shares during the last quarter. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. BTIG Research started coverage on Ralph Lauren in a research note on Tuesday, October 14th. They set a “buy” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on Ralph Lauren from $423.00 to $430.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Evercore ISI lifted their target price on Ralph Lauren from $340.00 to $375.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Zacks Research upgraded shares of Ralph Lauren to a “strong-buy” rating in a report on Tuesday, August 12th. Finally, TD Cowen raised their price target on shares of Ralph Lauren from $354.00 to $399.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $347.13.

Ralph Lauren Price Performance

RL opened at $371.17 on Thursday. The company has a market capitalization of $22.51 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 1.63 and a beta of 1.61. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. Ralph Lauren Corporation has a 12-month low of $176.61 and a 12-month high of $374.00. The business’s fifty day simple moving average is $325.43 and its 200-day simple moving average is $300.34.

Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Thursday, November 6th. The textile maker reported $3.79 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $0.34. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the firm earned $2.54 earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, equities research analysts anticipate that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were paid a dividend of $0.9125 per share. The ex-dividend date was Friday, September 26th. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.0%. Ralph Lauren’s dividend payout ratio (DPR) is currently 26.98%.

Ralph Lauren Profile

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.