Cinctive Capital Management LP Takes Position in Ralph Lauren Corporation $RL

Cinctive Capital Management LP bought a new position in Ralph Lauren Corporation (NYSE:RL) in the 4th quarter, Holdings Channel reports. The fund bought 30,161 shares of the textile maker’s stock, valued at approximately $10,665,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RL. Concentric Capital Strategies LP bought a new position in Ralph Lauren in the 4th quarter worth approximately $862,000. City National Bank of Florida MSD boosted its stake in Ralph Lauren by 12.2% in the 4th quarter. City National Bank of Florida MSD now owns 1,558 shares of the textile maker’s stock worth $551,000 after purchasing an additional 170 shares during the period. Atreides Management LP boosted its stake in Ralph Lauren by 2.0% in the 4th quarter. Atreides Management LP now owns 127,562 shares of the textile maker’s stock worth $45,107,000 after purchasing an additional 2,462 shares during the period. Balyasny Asset Management L.P. bought a new position in Ralph Lauren in the 4th quarter worth approximately $71,571,000. Finally, Boothbay Fund Management LLC boosted its stake in Ralph Lauren by 96.9% in the 4th quarter. Boothbay Fund Management LLC now owns 4,516 shares of the textile maker’s stock worth $1,597,000 after purchasing an additional 2,222 shares during the period. 67.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on RL shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $437.00 price target on shares of Ralph Lauren in a research note on Friday, May 22nd. Bank of America upped 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 upped their price target on Ralph Lauren from $430.00 to $439.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Zacks Research downgraded Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Finally, BTIG Research restated a “buy” rating and issued a $450.00 price target on shares of Ralph Lauren in a research note on Friday, May 22nd. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $428.29.

Ralph Lauren Trading Down 0.6%

Shares of RL opened at $404.16 on Thursday. The company’s fifty day moving average is $368.48 and its 200 day moving average is $361.27. Ralph Lauren Corporation has a fifty-two week low of $259.30 and a fifty-two week high of $421.60. The stock has a market capitalization of $24.06 billion, a PE ratio of 26.75, a P/E/G ratio of 2.02 and a beta of 1.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.57 and a current ratio of 2.13.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.28. Ralph Lauren had a net margin of 11.60% and a return on equity of 38.17%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the business posted $2.27 earnings per share. Ralph Lauren’s quarterly revenue was up 16.6% on a year-over-year basis. Sell-side analysts expect that Ralph Lauren Corporation will post 18.33 earnings per share for the current fiscal year.

Ralph Lauren Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a $1.00 dividend. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, June 26th. Ralph Lauren’s dividend payout ratio (DPR) is presently 24.16%.

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.