Ralph Lauren Corporation $RL Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp raised its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 595.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,684 shares of the textile maker’s stock after acquiring an additional 12,572 shares during the period. Fifth Third Bancorp’s holdings in Ralph Lauren were worth $5,051,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RL. Orion Porfolio Solutions LLC boosted its position in Ralph Lauren by 8,937.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock worth $264,225,000 after purchasing an additional 952,681 shares in the last quarter. Invesco Ltd. raised its stake in shares of Ralph Lauren by 26.2% during the 4th quarter. Invesco Ltd. now owns 1,324,018 shares of the textile maker’s stock worth $468,186,000 after buying an additional 275,263 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Ralph Lauren by 40.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 895,017 shares of the textile maker’s stock valued at $316,487,000 after buying an additional 255,511 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Ralph Lauren by 38.6% during the fourth quarter. AQR Capital Management LLC now owns 881,360 shares of the textile maker’s stock worth $311,658,000 after purchasing an additional 245,242 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Ralph Lauren by 70.5% during the 4th quarter. First Trust Advisors LP now owns 586,225 shares of the textile maker’s stock worth $207,295,000 after buying an additional 242,386 shares in the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RL. Weiss Ratings lowered shares of Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 15th. Barclays upped their target price on shares of Ralph Lauren from $430.00 to $439.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Wells Fargo & Company upped their price target on Ralph Lauren from $400.00 to $415.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. 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 report on Thursday, April 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of Ralph Lauren in a research report on Thursday, May 21st. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $430.07.

Ralph Lauren Price Performance

Shares of RL stock opened at $380.64 on Friday. The firm has a fifty day moving average of $379.56 and a two-hundred day moving average of $366.31. Ralph Lauren Corporation has a 1-year low of $273.04 and a 1-year high of $421.60. The firm has a market cap of $22.66 billion, a P/E ratio of 25.19, a P/E/G ratio of 1.93 and a beta of 1.34. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.13 and a quick ratio of 1.57.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings data on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.28. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.85 billion. Ralph Lauren had a net margin of 11.60% and a return on equity of 38.17%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.27 EPS. As a group, research analysts anticipate that Ralph Lauren Corporation will post 18.33 earnings per share for the current fiscal year.

Ralph Lauren Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were given a $1.00 dividend. The ex-dividend date was Friday, June 26th. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.91. Ralph Lauren’s payout ratio is currently 26.47%.

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.