Bank Pictet & Cie Europe AG Buys Shares of 820 Ralph Lauren Corporation $RL

Key Points

• Bank Pictet & Cie Europe AG has purchased 820 shares of Ralph Lauren Corporation, valued at approximately $225,000, marking a new investment in the company during the second quarter.
• Ralph Lauren reported a quarterly earnings of $3.77 EPS, surpassing analyst expectations of $3.50 EPS, with revenue rising 13.7% year-over-year to $1.72 billion.
• The company recently declared a quarterly dividend of $0.9125 per share, equating to an annualized rate of $3.65 and a dividend yield of 1.2%.

Bank Pictet & Cie Europe AG purchased a new position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 820 shares of the textile maker's stock, valued at approximately $225,000.

Several other hedge funds have also made changes to their positions in RL. AQR Capital Management LLC lifted its stake in Ralph Lauren by 55.7% in the first quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker's stock valued at $245,468,000 after buying an additional 414,275 shares during the last quarter. Invesco Ltd. lifted its position in Ralph Lauren by 22.3% in the 1st quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker's stock valued at $333,958,000 after purchasing an additional 275,391 shares during the last quarter. GAMMA Investing LLC boosted its stake in Ralph Lauren by 24,164.5% during the 1st quarter. GAMMA Investing LLC now owns 254,292 shares of the textile maker's stock valued at $56,132,000 after purchasing an additional 253,244 shares during the period. Wedge Capital Management L L P NC acquired a new position in Ralph Lauren during the 1st quarter valued at about $37,517,000. Finally, Trexquant Investment LP grew its position in Ralph Lauren by 509.5% in the 1st quarter. Trexquant Investment LP now owns 158,062 shares of the textile maker's stock worth $34,891,000 after purchasing an additional 132,128 shares during the last quarter. Institutional investors own 67.91% of the company's stock.

Ralph Lauren Trading Up 3.0%

NYSE:RL opened at $312.04 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.84. The company has a market capitalization of $18.90 billion, a P/E ratio of 24.92, a P/E/G ratio of 1.53 and a beta of 1.60. Ralph Lauren Corporation has a 52 week low of $176.61 and a 52 week high of $321.77. The stock's 50 day moving average price is $300.85 and its 200 day moving average price is $266.46.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 EPS for the quarter, topping the consensus estimate of $3.50 by $0.27. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The company 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 business posted $2.70 EPS. Ralph Lauren's quarterly revenue was up 13.7% on a year-over-year basis. On average, research analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be given a $0.9125 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.2%. Ralph Lauren's payout ratio is currently 29.15%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RL shares. Needham & Company LLC boosted their price objective on Ralph Lauren from $335.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Cfra Research upgraded Ralph Lauren from a "moderate sell" rating to a "hold" rating in a research report on Monday, August 11th. UBS Group increased their price target on Ralph Lauren from $385.00 to $404.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Zacks Research upgraded shares of Ralph Lauren to a "strong-buy" rating in a research note on Tuesday, August 12th. Finally, Jefferies Financial Group increased their target price on shares of Ralph Lauren from $325.00 to $365.00 and gave the company a "buy" rating in a research report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $312.82.

About Ralph Lauren

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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