OVERSEA CHINESE BANKING Corp Ltd Invests $5.63 Million in Ralph Lauren Corporation $RL

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Ralph Lauren Corporation (NYSE:RL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,906 shares of the textile maker’s stock, valued at approximately $5,625,000.

A number of other institutional investors have also recently made changes to their positions in the company. Optas LLC boosted its stake in shares of Ralph Lauren by 70.8% in the fourth quarter. Optas LLC now owns 1,389 shares of the textile maker’s stock worth $491,000 after acquiring an additional 576 shares during the last quarter. Ticino Wealth acquired a new stake in shares of Ralph Lauren in the fourth quarter worth approximately $681,000. Evergreen Capital Management LLC acquired a new stake in shares of Ralph Lauren in the fourth quarter worth approximately $212,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ralph Lauren by 4.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,053 shares of the textile maker’s stock worth $4,616,000 after acquiring an additional 519 shares during the last quarter. Finally, Krilogy Financial LLC boosted its stake in shares of Ralph Lauren by 28.4% in the fourth quarter. Krilogy Financial LLC now owns 4,722 shares of the textile maker’s stock worth $1,701,000 after acquiring an additional 1,043 shares during the last quarter. 67.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RL shares. Bank of America lifted their price target on Ralph Lauren from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Barclays lifted their price target on Ralph Lauren from $416.00 to $430.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. Zacks Research raised Ralph Lauren from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft set a $422.00 price objective on Ralph Lauren in a research note on Thursday, January 8th. Finally, BTIG Research boosted their price objective on Ralph Lauren from $400.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Ralph Lauren has an average rating of “Moderate Buy” and a consensus price target of $399.19.

Insider Activity at Ralph Lauren

In other news, CEO Patrice Louvet sold 47,000 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $354.22, for a total value of $16,648,340.00. Following the transaction, the chief executive officer owned 85,552 shares of the company’s stock, valued at $30,304,229.44. This represents a 35.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 38.34% of the stock is currently owned by company insiders.

Ralph Lauren Stock Performance

NYSE RL opened at $387.28 on Wednesday. The stock’s fifty day moving average is $358.09 and its two-hundred day moving average is $351.46. The firm has a market capitalization of $23.44 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.52 and a current ratio of 2.10. Ralph Lauren Corporation has a fifty-two week low of $204.95 and a fifty-two week high of $393.41.

Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Thursday, February 5th. The textile maker reported $6.22 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.42. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.30 billion. Ralph Lauren had a return on equity of 37.97% and a net margin of 11.73%.The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.82 earnings per share. On average, research analysts anticipate that Ralph Lauren Corporation will post 16.25 earnings per share for the current year.

Ralph Lauren Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were paid a dividend of $0.9125 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $3.65 dividend on an annualized basis and a yield of 0.9%. Ralph Lauren’s payout ratio is 24.85%.

About Ralph Lauren

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.