Bank of New York Mellon Corp Has $143.07 Million Stock Position in Ralph Lauren Corporation $RL

Key Points

• Bank of New York Mellon Corp increased its Ralph Lauren stake by 65.7% in Q1, buying 164,965 additional shares and bringing its position to 415,919 shares worth about $143.1 million.
• Ralph Lauren reported strong quarterly results, with EPS of $2.80 and revenue of $1.98 billion, both ahead of analyst expectations. Revenue rose 16.6% year over year.
• The company also raised its quarterly dividend to $1.00 from $0.91, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $430.07.

Bank of New York Mellon Corp boosted its holdings in Ralph Lauren Corporation (NYSE:RL - Free Report) by 65.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 415,919 shares of the textile maker's stock after purchasing an additional 164,965 shares during the quarter. Bank of New York Mellon Corp owned about 0.69% of Ralph Lauren worth $143,072,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RL. Blueline Advisors LLC bought a new position in Ralph Lauren during the fourth quarter worth $27,000. JPL Wealth Management LLC bought a new stake in Ralph Lauren in the third quarter valued at $27,000. CYBER HORNET ETFs LLC bought a new stake in Ralph Lauren in the second quarter valued at $28,000. Aventura Private Wealth LLC acquired a new position in shares of Ralph Lauren during the fourth quarter valued at about $29,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Ralph Lauren during the second quarter valued at about $32,000. 67.91% of the stock is owned by institutional investors and hedge funds.

Ralph Lauren Price Performance

RL stock opened at $380.64 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.57 and a current ratio of 2.13. The business has a 50-day simple moving average of $379.56 and a two-hundred day simple moving average of $366.38. The company has a market capitalization of $22.66 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 1.89 and a beta of 1.34. Ralph Lauren Corporation has a 52-week low of $273.04 and a 52-week high of $421.60.

Ralph Lauren (NYSE:RL - Get Free Report) last posted its earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.28. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.85 billion. Ralph Lauren had a return on equity of 38.17% and a net margin of 11.60%.The company's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the company earned $2.27 earnings per share. Research analysts expect that Ralph Lauren Corporation will post 18.33 EPS for the current fiscal year.

Ralph Lauren Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Weiss Ratings downgraded Ralph Lauren from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, May 15th. Wall Street Zen raised Ralph Lauren from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. Barclays increased their price target on Ralph Lauren from $430.00 to $439.00 and gave the stock an "overweight" rating in a report on Friday, May 22nd. UBS Group boosted their price objective on Ralph Lauren from $480.00 to $511.00 and gave the company a "buy" rating in a report on Friday, May 22nd. Finally, Telsey Advisory Group upped their target price on Ralph Lauren from $435.00 to $460.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 23rd. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $430.07.

Ralph Lauren Profile

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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