Ralph Lauren Corporation $RL Shares Acquired by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC increased its holdings in Ralph Lauren Corporation (NYSE:RL) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,132 shares of the textile maker’s stock after acquiring an additional 182 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Ralph Lauren were worth $5,796,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Invesco Ltd. increased its holdings in shares of Ralph Lauren by 22.3% in the 1st quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker’s stock valued at $333,958,000 after acquiring an additional 275,391 shares during the period. AQR Capital Management LLC increased its holdings in shares of Ralph Lauren by 55.7% in the 1st quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker’s stock valued at $245,468,000 after acquiring an additional 414,275 shares during the period. Jennison Associates LLC increased its holdings in shares of Ralph Lauren by 16.5% in the 1st quarter. Jennison Associates LLC now owns 565,687 shares of the textile maker’s stock valued at $124,870,000 after acquiring an additional 79,934 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of Ralph Lauren by 118.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 388,138 shares of the textile maker’s stock valued at $106,458,000 after acquiring an additional 210,343 shares during the period. Finally, Truist Financial Corp increased its holdings in shares of Ralph Lauren by 7.0% in the 2nd quarter. Truist Financial Corp now owns 322,020 shares of the textile maker’s stock valued at $88,324,000 after acquiring an additional 21,183 shares during the period. 67.91% of the stock is owned by institutional investors and hedge funds.

Ralph Lauren Stock Performance

NYSE:RL opened at $332.72 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58. Ralph Lauren Corporation has a fifty-two week low of $176.61 and a fifty-two week high of $333.14. The stock has a market cap of $20.15 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 1.63 and a beta of 1.61. The firm’s fifty day simple moving average is $308.79 and its 200-day simple moving average is $278.13.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.27. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the company posted $2.70 EPS. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. Analysts expect 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. Investors of record on Friday, September 26th were given a $0.9125 dividend. The ex-dividend date was Friday, September 26th. This represents a $3.65 annualized dividend and a dividend yield of 1.1%. Ralph Lauren’s payout ratio is currently 29.15%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Cowen reaffirmed a “buy” rating on shares of Ralph Lauren in a report on Tuesday, September 30th. Wells Fargo & Company boosted their price objective on shares of Ralph Lauren from $320.00 to $345.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Ralph Lauren in a research note on Wednesday, October 8th. Barclays dropped their price objective on shares of Ralph Lauren from $353.00 to $352.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 14th. Finally, UBS Group boosted their price objective on shares of Ralph Lauren from $385.00 to $404.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ralph Lauren currently has an average rating of “Moderate Buy” and an average price target of $333.94.

About Ralph Lauren

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.