Atreides Management LP Raises Stake in Ralph Lauren Corporation $RL

Atreides Management LP raised its position in shares of Ralph Lauren Corporation (NYSE:RL) by 2.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 127,562 shares of the textile maker’s stock after purchasing an additional 2,462 shares during the period. Atreides Management LP’s holdings in Ralph Lauren were worth $45,107,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. M&T Bank Corp lifted its holdings in Ralph Lauren by 6,216.7% during the fourth quarter. M&T Bank Corp now owns 73,337 shares of the textile maker’s stock valued at $25,933,000 after purchasing an additional 72,176 shares in the last quarter. Vest Financial LLC lifted its holdings in Ralph Lauren by 177.9% during the fourth quarter. Vest Financial LLC now owns 54,701 shares of the textile maker’s stock valued at $19,343,000 after purchasing an additional 35,016 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Ralph Lauren by 28.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 41,688 shares of the textile maker’s stock valued at $14,741,000 after purchasing an additional 9,133 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Ralph Lauren by 106.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 63,180 shares of the textile maker’s stock valued at $22,552,000 after purchasing an additional 32,622 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in Ralph Lauren by 160.0% during the third quarter. Citigroup Inc. now owns 88,617 shares of the textile maker’s stock valued at $27,787,000 after purchasing an additional 54,533 shares in the last quarter. Hedge funds and other institutional investors own 67.91% of the company’s stock.

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 company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 26th. Ralph Lauren’s dividend payout ratio (DPR) is presently 24.16%.

Analyst Ratings Changes

RL has been the topic of several analyst reports. Bank of America lifted their price target on shares of Ralph Lauren from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Weiss Ratings cut shares of Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 15th. BTIG Research reiterated a “buy” rating and set a $450.00 price objective on shares of Ralph Lauren in a research report on Friday, May 22nd. UBS Group lifted their price objective on shares of Ralph Lauren from $480.00 to $511.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of Ralph Lauren from $400.00 to $415.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ralph Lauren presently has an average rating of “Moderate Buy” and an average target price of $428.29.

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.