812 Shares in Ralph Lauren Corporation $RL Bought by Tower Wealth Partners Inc.

Key Points

• Tower Wealth Partners Inc. acquired 812 shares of Ralph Lauren Corporation, worth approximately $223,000, in the second quarter, marking a new position in the company.
• Several institutional investors, including Allianz Asset Management and Ritholtz Wealth Management, have significantly increased their holdings in Ralph Lauren, with institutional investors owning 67.91% of the stock.
• Research firms have raised their price targets for Ralph Lauren, with TD Cowen increasing it to $399.00 and some firms upgrading their ratings to "buy," indicating positive market sentiment towards the stock.

Tower Wealth Partners Inc. acquired a new position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 812 shares of the textile maker's stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Allianz Asset Management GmbH lifted its holdings in Ralph Lauren by 118.3% during the second quarter. Allianz Asset Management GmbH now owns 388,138 shares of the textile maker's stock worth $106,458,000 after acquiring an additional 210,343 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in Ralph Lauren by 19.0% during the second quarter. Ritholtz Wealth Management now owns 8,295 shares of the textile maker's stock worth $2,275,000 after acquiring an additional 1,324 shares in the last quarter. Sagespring Wealth Partners LLC bought a new position in Ralph Lauren during the second quarter worth about $209,000. Broad Peak Investment Advisers Pte Ltd bought a new position in Ralph Lauren during the second quarter worth about $6,308,000. Finally, Sequoia Financial Advisors LLC bought a new position in Ralph Lauren during the second quarter worth about $413,000. 67.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on RL. TD Cowen lifted their target price on Ralph Lauren from $354.00 to $399.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Wall Street Zen upgraded Ralph Lauren from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Wells Fargo & Company lifted their target price on Ralph Lauren from $320.00 to $345.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. Zacks Research upgraded Ralph Lauren to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, Barclays cut their price target on Ralph Lauren from $353.00 to $352.00 and set an "overweight" rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ralph Lauren presently has a consensus rating of "Moderate Buy" and a consensus target price of $324.89.

Ralph Lauren Stock Performance

Shares of Ralph Lauren stock opened at $318.16 on Thursday. The firm has a market cap of $19.27 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 1.59 and a beta of 1.61. The stock's 50-day moving average is $306.33 and its 200-day moving average is $274.96. Ralph Lauren Corporation has a one year low of $176.61 and a one year high of $330.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.30.

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

Ralph Lauren Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were given a dividend of $0.9125 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $3.65 annualized dividend and a yield of 1.1%. Ralph Lauren's dividend payout ratio is 29.15%.

Ralph Lauren Company 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.

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