Bank of Nova Scotia Acquires 17,059 Shares of Ralph Lauren Corporation $RL

Key Points

• Bank of Nova Scotia increased its Ralph Lauren stake by 549.4% in the first quarter, acquiring 17,059 additional shares for a total holding of 20,164 shares valued at approximately $6.94 million. Institutional investors own 67.91% of the company.
• Analysts remain broadly positive, with 15 Buy ratings and three Holds, resulting in a consensus “Moderate Buy” rating and an average price target of $430.79.
• Ralph Lauren reported quarterly EPS of $2.80, topping estimates of $2.52, while revenue rose 16.6% year over year to $1.98 billion. The company also raised its quarterly dividend to $1.00 per share, implying a 1.1% yield.

Bank of Nova Scotia lifted its holdings in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 549.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,164 shares of the textile maker's stock after purchasing an additional 17,059 shares during the quarter. Bank of Nova Scotia's holdings in Ralph Lauren were worth $6,936,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Blueline Advisors LLC bought a new stake in Ralph Lauren during the fourth quarter valued at approximately $27,000. JPL Wealth Management LLC bought a new position in shares of Ralph Lauren in the 3rd quarter worth $27,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Ralph Lauren during the 2nd quarter valued at $28,000. MUFG Securities EMEA plc purchased a new stake in shares of Ralph Lauren during the 2nd quarter valued at $32,000. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Ralph Lauren during the 4th quarter worth $35,000. 67.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RL. Weiss Ratings lowered shares of Ralph Lauren from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, May 15th. Telsey Advisory Group raised their price target on Ralph Lauren from $435.00 to $460.00 and gave the company an "outperform" rating in a research report on Tuesday, June 23rd. Bank of America lifted their price target on Ralph Lauren from $400.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Zacks Research cut Ralph Lauren from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. Finally, Wells Fargo & Company increased their price objective on Ralph Lauren from $415.00 to $425.00 and gave the company an "overweight" rating in a research report on Tuesday, July 21st. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $430.79.

Ralph Lauren Stock Up 1.7%

Shares of NYSE:RL opened at $380.11 on Tuesday. The stock has a market capitalization of $22.62 billion, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 1.85 and a beta of 1.34. The stock's 50-day moving average price is $385.04 and its 200-day moving average price is $367.23. The company has a current ratio of 2.13, a quick ratio of 1.57 and a debt-to-equity ratio of 0.51. Ralph Lauren Corporation has a 12-month low of $273.04 and a 12-month high of $421.60.

Ralph Lauren (NYSE:RL - Get Free Report) last issued its earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.28. The company had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.85 billion. Ralph Lauren had a return on equity of 38.17% and a net margin of 11.60%.Ralph Lauren's quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.27 EPS. On average, equities analysts anticipate that Ralph Lauren Corporation will post 18.33 earnings per share for the current 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 a positive change 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 (DPR) is 26.47%.

Ralph Lauren Company 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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