Amundi Purchases 67,761 Shares of Ralph Lauren Corporation $RL

Key Points

• Amundi increased its Ralph Lauren stake by 42.4% in the first quarter, purchasing 67,761 additional shares and bringing its holdings to 227,545 shares worth approximately $78.3 million. Institutional investors collectively own 67.91% of the company.
• Ralph Lauren reported a strong quarter, with revenue rising 16.6% year over year to $1.98 billion and earnings of $2.80 per share, exceeding analysts’ estimates of $2.52. The company also raised its quarterly dividend to $1.00 per share.
• Analysts remain broadly bullish, with 15 Buy ratings and three Holds, an overall “Moderate Buy” consensus, and an average price target of $430.79 versus the stock’s reported price of $380.85.

Amundi lifted its position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 42.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 227,545 shares of the textile maker's stock after purchasing an additional 67,761 shares during the quarter. Amundi owned 0.38% of Ralph Lauren worth $78,273,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RL. EverSource Wealth Advisors LLC lifted its stake in shares of Ralph Lauren by 6.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,251 shares of the textile maker's stock valued at $430,000 after buying an additional 79 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Ralph Lauren by 22.6% during the first quarter. California State Teachers Retirement System now owns 45,090 shares of the textile maker's stock worth $15,511,000 after acquiring an additional 8,312 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of Ralph Lauren by 24.8% during the first quarter. Quantinno Capital Management LP now owns 328,660 shares of the textile maker's stock worth $113,056,000 after acquiring an additional 65,361 shares in the last quarter. SummitTX Capital L.P. raised its holdings in shares of Ralph Lauren by 35.4% in the 1st quarter. SummitTX Capital L.P. now owns 7,999 shares of the textile maker's stock worth $2,752,000 after acquiring an additional 2,091 shares during the last quarter. Finally, Family Manage LLC raised its holdings in shares of Ralph Lauren by 19.9% in the 1st quarter. Family Manage LLC now owns 2,089 shares of the textile maker's stock worth $719,000 after acquiring an additional 347 shares during the last quarter. 67.91% of the stock is currently owned by institutional investors.

Ralph Lauren Trading Down 1.3%

Shares of Ralph Lauren stock opened at $380.85 on Friday. The firm has a market cap of $22.67 billion, a PE ratio of 25.21, a P/E/G ratio of 1.89 and a beta of 1.34. Ralph Lauren Corporation has a 1 year low of $273.04 and a 1 year high of $421.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.13 and a quick ratio of 1.57. The stock has a fifty day moving average price of $387.35 and a 200-day moving average price of $367.63.

Ralph Lauren (NYSE:RL - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $1.85 billion. During the same period in the previous year, the firm earned $2.27 EPS. The firm's quarterly revenue was up 16.6% on a year-over-year basis. Equities research analysts anticipate that Ralph Lauren Corporation will post 18.33 EPS for the current year.

Ralph Lauren Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.1%. This is a positive change from Ralph Lauren's previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, June 26th. Ralph Lauren's dividend payout ratio is currently 26.47%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays boosted their price objective on Ralph Lauren from $430.00 to $439.00 and gave the stock an "overweight" rating in a report on Friday, May 22nd. BTIG Research reaffirmed a "buy" rating and set a $450.00 target price on shares of Ralph Lauren in a research report 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 report on Thursday, April 16th. Needham & Company LLC reissued a "buy" rating and issued a $400.00 price target on shares of Ralph Lauren in a research report on Thursday, May 21st. Finally, Telsey Advisory Group raised their price objective on Ralph Lauren from $435.00 to $460.00 and gave the company an "outperform" rating in a research note on Tuesday, June 23rd. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $430.79.

About Ralph Lauren

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.

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