Assenagon Asset Management S.A. Purchases New Shares in Ralph Lauren Corporation $RL

Key Points

• Assenagon Asset Management purchased 73,188 Ralph Lauren shares worth approximately $26.0 million, representing about 0.12% of the company. Institutional investors collectively own 67.91% of Ralph Lauren.
• Ralph Lauren reported stronger-than-expected quarterly results, with EPS of $4.59 versus the $4.32 consensus estimate and revenue of $1.96 billion, up 13.9% year over year.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $449, compared with the stock’s reported price of $385.25. The company also pays a quarterly dividend of $1.00, yielding approximately 1.0% annually.

Assenagon Asset Management S.A. bought a new position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 73,188 shares of the textile maker's stock, valued at approximately $25,987,000. Assenagon Asset Management S.A. owned approximately 0.12% of Ralph Lauren at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Global Investments raised its position in shares of Ralph Lauren by 2.0% in the 1st quarter. Summit Global Investments now owns 1,510 shares of the textile maker's stock worth $519,000 after acquiring an additional 29 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Ralph Lauren by 27.0% in the second quarter. Parkside Financial Bank & Trust now owns 179 shares of the textile maker's stock valued at $72,000 after purchasing an additional 38 shares during the last quarter. Meeder Advisory Services Inc. grew its stake in Ralph Lauren by 4.0% in the first quarter. Meeder Advisory Services Inc. now owns 1,062 shares of the textile maker's stock valued at $365,000 after purchasing an additional 41 shares during the last quarter. Avior Wealth Management LLC grew its stake in Ralph Lauren by 1.2% in the second quarter. Avior Wealth Management LLC now owns 3,535 shares of the textile maker's stock valued at $1,419,000 after purchasing an additional 43 shares during the last quarter. Finally, Empirical Finance LLC raised its holdings in Ralph Lauren by 2.9% in the second quarter. Empirical Finance LLC now owns 1,536 shares of the textile maker's stock worth $617,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 67.91% of the company's stock.

Ralph Lauren Trading Down 0.1%

Shares of NYSE:RL opened at $385.25 on Monday. Ralph Lauren Corporation has a 52-week low of $306.55 and a 52-week high of $421.60. The stock has a market cap of $22.95 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.45 and a beta of 1.34. The company has a quick ratio of 1.42, a current ratio of 2.04 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $360.50 and a 200-day moving average price of $370.72.

Ralph Lauren (NYSE:RL - Get Free Report) last released its earnings results on Thursday, August 6th. The textile maker reported $4.59 EPS for the quarter, topping analysts' consensus estimates of $4.32 by $0.27. Ralph Lauren had a return on equity of 39.10% and a net margin of 11.76%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $3.77 earnings per share. The company's revenue was up 13.9% compared to the same quarter last year. Equities analysts predict that Ralph Lauren Corporation will post 18.79 EPS for the current year.

Ralph Lauren Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, September 25th. Ralph Lauren's payout ratio is 25.20%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Citigroup raised their target price on shares of Ralph Lauren from $400.00 to $455.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft set a $446.00 price objective on Ralph Lauren in a research report on Friday, August 7th. BTIG Research boosted their target price on Ralph Lauren from $450.00 to $460.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Wells Fargo & Company upped their target price on Ralph Lauren from $415.00 to $425.00 and gave the company an "overweight" rating in a research report on Tuesday, July 21st. Finally, Needham & Company LLC upped their target price on Ralph Lauren from $405.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $449.00.

Ralph Lauren Company Profile

Ralph Lauren Corporation NYSE: RL is a global luxury lifestyle company founded by Ralph Lauren in 1967. The company designs, markets and distributes apparel, accessories, home furnishings, fragrances and related products under a portfolio of brands that includes Ralph Lauren, Polo Ralph Lauren, Lauren Ralph Lauren, Ralph Lauren Purple Label and Double RL.

Ralph Lauren serves men, women and children through a combination of directly operated stores, digital commerce, wholesale distribution and licensing arrangements.

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