Earned Wealth Advisors LLC Purchases Shares of 1,216 Ralph Lauren Corporation (NYSE:RL)

Key Points

• Earned Wealth Advisors LLC has acquired 1,216 shares of Ralph Lauren Corporation valued at approximately $268,000 in the first quarter of 2023.
• Ralph Lauren reported a quarterly earnings per share (EPS) of $2.27, exceeding analysts' expectations of $2.00, with a revenue increase of 8.3% year-over-year.
• The company has announced a dividend increase from $0.83 to $0.9125 per share and initiated a $1.50 billion share buyback plan, indicating a belief that its shares are undervalued.

Earned Wealth Advisors LLC bought a new stake in Ralph Lauren Corporation (NYSE:RL - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 1,216 shares of the textile maker's stock, valued at approximately $268,000.

Several other large investors also recently made changes to their positions in RL. Commonwealth Equity Services LLC boosted its stake in Ralph Lauren by 12.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 1,557 shares of the textile maker's stock valued at $360,000 after purchasing an additional 175 shares during the last quarter. LPL Financial LLC boosted its stake in Ralph Lauren by 34.2% during the 4th quarter. LPL Financial LLC now owns 19,148 shares of the textile maker's stock valued at $4,423,000 after purchasing an additional 4,879 shares during the last quarter. Norges Bank acquired a new position in Ralph Lauren during the 4th quarter valued at about $12,619,000. Alliancebernstein L.P. boosted its stake in Ralph Lauren by 4.3% during the 4th quarter. Alliancebernstein L.P. now owns 57,233 shares of the textile maker's stock valued at $13,220,000 after purchasing an additional 2,369 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Ralph Lauren by 2.8% during the 4th quarter. Franklin Resources Inc. now owns 86,949 shares of the textile maker's stock valued at $20,083,000 after purchasing an additional 2,404 shares during the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Ralph Lauren Price Performance

NYSE:RL traded down $4.62 during midday trading on Tuesday, hitting $299.83. The company had a trading volume of 766,628 shares, compared to its average volume of 585,275. Ralph Lauren Corporation has a 52-week low of $156.69 and a 52-week high of $306.34. The stock's fifty day moving average price is $281.71 and its 200-day moving average price is $255.56. The company has a market capitalization of $18.09 billion, a PE ratio of 25.83, a P/E/G ratio of 2.24 and a beta of 1.53. The company has a quick ratio of 1.33, a current ratio of 1.78 and a debt-to-equity ratio of 0.38.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its earnings results on Thursday, May 22nd. The textile maker reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.27. Ralph Lauren had a net margin of 10.49% and a return on equity of 31.76%. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the business earned $1.71 earnings per share. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. As a group, research analysts expect that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren announced that its board has initiated a stock repurchase plan on Thursday, May 22nd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the textile maker to repurchase up to 8.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Ralph Lauren Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were given a $0.9125 dividend. This represents a $3.65 annualized dividend and a yield of 1.2%. This is a boost from Ralph Lauren's previous quarterly dividend of $0.83. The ex-dividend date was Friday, June 27th. Ralph Lauren's dividend payout ratio (DPR) is presently 31.44%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RL shares. Barclays lifted their price target on Ralph Lauren from $260.00 to $321.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. BMO Capital Markets boosted their target price on Ralph Lauren from $197.00 to $205.00 and gave the stock an "underperform" rating in a research note on Friday, May 23rd. Telsey Advisory Group boosted their target price on Ralph Lauren from $315.00 to $335.00 and gave the stock an "outperform" rating in a research note on Monday. The Goldman Sachs Group boosted their target price on Ralph Lauren from $262.00 to $324.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, Evercore ISI boosted their target price on Ralph Lauren from $320.00 to $335.00 and gave the stock an "outperform" rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Ralph Lauren presently has a consensus rating of "Moderate Buy" and a consensus target price of $303.00.

About Ralph Lauren

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men's, women's, and children's clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.