3Chopt Investment Partners LLC Invests $839,000 in Ralph Lauren Corporation $RL

Key Points

• 3Chopt Investment Partners LLC invested $839,000 in Ralph Lauren Corporation during the second quarter by acquiring 3,049 shares of the company.
• Ralph Lauren reported earnings of $3.77 per share for the latest quarter, exceeding analysts' expectations of $3.50, alongside a revenue of $1.72 billion.
• The company announced a quarterly dividend of $0.9125 per share, which will be paid on October 10th, reflecting an annualized dividend of $3.65 and a yield of 1.1%.

3Chopt Investment Partners LLC acquired a new position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,049 shares of the textile maker's stock, valued at approximately $839,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RL. OMNI 360 Wealth Inc. purchased a new position in shares of Ralph Lauren in the first quarter valued at $248,000. Crossmark Global Holdings Inc. grew its stake in Ralph Lauren by 13.5% in the 1st quarter. Crossmark Global Holdings Inc. now owns 22,590 shares of the textile maker's stock valued at $4,987,000 after acquiring an additional 2,684 shares during the last quarter. Truist Financial Corp grew its stake in Ralph Lauren by 7.8% in the 1st quarter. Truist Financial Corp now owns 300,837 shares of the textile maker's stock valued at $66,407,000 after acquiring an additional 21,681 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Ralph Lauren by 31.5% in the first quarter. BNP Paribas Financial Markets now owns 171,141 shares of the textile maker's stock valued at $37,778,000 after purchasing an additional 40,977 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Ralph Lauren by 8.1% in the first quarter. Envestnet Asset Management Inc. now owns 237,479 shares of the textile maker's stock valued at $52,421,000 after purchasing an additional 17,732 shares in the last quarter. 67.91% of the stock is owned by institutional investors and hedge funds.

Ralph Lauren Stock Down 1.8%

Shares of RL opened at $323.15 on Friday. The firm has a market cap of $19.57 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 1.66 and a beta of 1.61. The company's fifty day moving average is $305.08 and its two-hundred day moving average is $272.47. Ralph Lauren Corporation has a fifty-two week low of $176.61 and a fifty-two week high of $330.11. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58.

Ralph Lauren (NYSE:RL - Get Free Report) last issued its earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.27. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.65 billion. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The business's quarterly revenue was up 13.7% on a year-over-year basis. During the same period last year, the company posted $2.70 EPS. Analysts forecast that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.9125 per share. The ex-dividend date is Friday, September 26th. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.1%. Ralph Lauren's payout ratio is presently 29.15%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RL shares. Barclays cut their price objective on Ralph Lauren from $360.00 to $353.00 and set an "overweight" rating for the company in a research report on Wednesday, September 17th. Wall Street Zen raised Ralph Lauren from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Zacks Research raised Ralph Lauren to a "strong-buy" rating in a research note on Tuesday, August 12th. Wells Fargo & Company upped their target price on shares of Ralph Lauren from $320.00 to $345.00 and gave the company an "overweight" rating in a report on Monday, September 8th. Finally, Jefferies Financial Group upped their target price on shares of Ralph Lauren from $325.00 to $365.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ralph Lauren presently has a consensus rating of "Moderate Buy" and an average target price of $320.53.

Ralph Lauren Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.