Ralph Lauren Corporation $RL Shares Bought by Truist Financial Corp

Truist Financial Corp grew its position in Ralph Lauren Corporation (NYSE:RL) by 6.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 343,238 shares of the textile maker’s stock after acquiring an additional 21,218 shares during the quarter. Truist Financial Corp’s holdings in Ralph Lauren were worth $107,626,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Broad Peak Investment Advisers Pte Ltd acquired a new stake in shares of Ralph Lauren in the 2nd quarter worth $6,308,000. JPMorgan Chase & Co. raised its holdings in Ralph Lauren by 13.2% during the second quarter. JPMorgan Chase & Co. now owns 1,007,745 shares of the textile maker’s stock worth $276,407,000 after purchasing an additional 117,494 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Ralph Lauren by 18.6% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 32,362 shares of the textile maker’s stock valued at $10,147,000 after purchasing an additional 5,075 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Ralph Lauren by 159.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 10,113 shares of the textile maker’s stock valued at $3,171,000 after purchasing an additional 6,213 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in Ralph Lauren during the 2nd quarter worth approximately $3,902,000. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Jefferies Financial Group began coverage on Ralph Lauren in a report on Wednesday, January 14th. They issued a “buy” rating and a $425.00 price target for the company. Deutsche Bank Aktiengesellschaft set a $422.00 target price on shares of Ralph Lauren in a research report on Thursday, January 8th. Telsey Advisory Group reiterated an “outperform” rating and issued a $435.00 price target on shares of Ralph Lauren in a report on Wednesday, December 17th. Barclays reissued an “overweight” rating and set a $409.00 price objective on shares of Ralph Lauren in a report on Tuesday, January 6th. Finally, Guggenheim initiated coverage on shares of Ralph Lauren in a report on Tuesday, December 9th. They issued a “neutral” rating for the company. Fifteen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $375.35.

Ralph Lauren Stock Performance

NYSE:RL opened at $352.97 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.35 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $21.40 billion, a P/E ratio of 26.09, a price-to-earnings-growth ratio of 1.59 and a beta of 1.49. The firm has a 50-day moving average price of $361.58 and a two-hundred day moving average price of $328.01. Ralph Lauren Corporation has a twelve month low of $176.61 and a twelve month high of $380.00.

Ralph Lauren (NYSE:RL) last released its quarterly earnings results on Thursday, November 6th. The textile maker reported $3.79 EPS for the quarter, beating the consensus estimate of $3.45 by $0.34. Ralph Lauren had a net margin of 11.28% and a return on equity of 36.18%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business earned $2.54 earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, research analysts expect that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were paid a dividend of $0.9125 per share. The ex-dividend date of this dividend was Friday, December 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 presently 26.98%.

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.