Jupiter Asset Management Ltd. Buys Shares of 238,683 Ralph Lauren Corporation $RL

Jupiter Asset Management Ltd. purchased a new position in shares of Ralph Lauren Corporation (NYSE:RL) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 238,683 shares of the textile maker’s stock, valued at approximately $74,841,000.

A number of other hedge funds have also recently made changes to their positions in the company. Hantz Financial Services Inc. grew its holdings in shares of Ralph Lauren by 1,228.6% during the second quarter. Hantz Financial Services Inc. now owns 93 shares of the textile maker’s stock worth $26,000 after purchasing an additional 86 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new position in Ralph Lauren in the 2nd quarter valued at approximately $28,000. Rothschild Investment LLC raised its stake in shares of Ralph Lauren by 61.3% during the third quarter. Rothschild Investment LLC now owns 100 shares of the textile maker’s stock valued at $31,000 after acquiring an additional 38 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Ralph Lauren during the second quarter worth $32,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Ralph Lauren by 57.1% during the second quarter. Geneos Wealth Management Inc. now owns 143 shares of the textile maker’s stock worth $39,000 after purchasing an additional 52 shares during the period. 67.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ralph Lauren news, CEO Patrice Louvet sold 47,000 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $354.22, for a total transaction of $16,648,340.00. Following the transaction, the chief executive officer directly owned 85,552 shares in the company, valued at approximately $30,304,229.44. This trade represents a 35.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 38.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on RL shares. Jefferies Financial Group decreased their price objective on Ralph Lauren from $425.00 to $410.00 and set a “buy” rating for the company in a report on Friday, February 6th. Argus increased their price target on Ralph Lauren from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Wells Fargo & Company raised their price objective on Ralph Lauren from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Zacks Research upgraded Ralph Lauren from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Finally, Citigroup increased their target price on shares of Ralph Lauren from $333.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Ralph Lauren has a consensus rating of “Moderate Buy” and a consensus target price of $388.19.

Ralph Lauren Stock Down 0.3%

Shares of NYSE RL opened at $377.12 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.10 and a quick ratio of 1.52. Ralph Lauren Corporation has a 1 year low of $176.61 and a 1 year high of $380.86. The stock has a market capitalization of $22.83 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.47 and a beta of 1.49. The company has a 50-day moving average price of $361.83 and a 200-day moving average price of $335.07.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Thursday, February 5th. The textile maker reported $6.22 earnings per share for the quarter, beating the consensus estimate of $5.80 by $0.42. The business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Ralph Lauren had a net margin of 11.73% and a return on equity of 37.97%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm earned $4.82 EPS. On average, equities research analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were issued a dividend of $0.9125 per share. The ex-dividend date was Friday, December 26th. This represents a $3.65 annualized dividend and a yield of 1.0%. Ralph Lauren’s dividend payout ratio is 24.85%.

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.