Bull Harbor Capital LLC Invests $1.07 Million in Ralph Lauren Corporation $RL

Key Points

• Bull Harbor Capital purchased 3,112 Ralph Lauren shares worth approximately $1.07 million in the first quarter. Institutional investors collectively own 67.91% of the company.
• Ralph Lauren reported quarterly EPS of $2.80, surpassing estimates of $2.52, while revenue rose 16.6% year over year to $1.98 billion. The company increased its quarterly dividend to $1.00, or $4.00 annually, yielding about 1.1%.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $430.79, compared with shares trading near $375.76. Wells Fargo raised its target to $425 and Needham reiterated a $400 target.

Bull Harbor Capital LLC bought a new stake in Ralph Lauren Corporation (NYSE:RL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,112 shares of the textile maker's stock, valued at approximately $1,070,000.

Other institutional investors also recently bought and sold shares of the company. Summit Global Investments increased its stake in 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 purchasing an additional 29 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Ralph Lauren by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,425 shares of the textile maker's stock valued at $1,565,000 after purchasing an additional 31 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Ralph Lauren by 14.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 251 shares of the textile maker's stock valued at $90,000 after purchasing an additional 31 shares during the period. Polymer Capital Management US LLC boosted its stake in shares of Ralph Lauren by 1.1% during the third quarter. Polymer Capital Management US LLC now owns 3,230 shares of the textile maker's stock valued at $1,013,000 after purchasing an additional 34 shares during the period. Finally, Vident Advisory LLC grew its holdings in shares of Ralph Lauren by 3.0% in the fourth quarter. Vident Advisory LLC now owns 1,257 shares of the textile maker's stock worth $445,000 after purchasing an additional 37 shares during the last quarter. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Ralph Lauren Trading Down 0.5%

Shares of RL opened at $375.76 on Thursday. The firm's 50-day moving average price is $387.07 and its 200-day moving average price is $367.42. The firm has a market capitalization of $22.37 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 1.87 and a beta of 1.34. 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 1-year low of $273.04 and a 1-year high of $421.60.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $1.85 billion. During the same quarter in the previous year, the company earned $2.27 earnings per share. Ralph Lauren's quarterly revenue was up 16.6% on a year-over-year basis. Sell-side analysts anticipate that Ralph Lauren Corporation will post 18.33 EPS 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 given a $1.00 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. This is an increase from Ralph Lauren's previous quarterly dividend of $0.91. Ralph Lauren's dividend payout ratio is currently 26.47%.

Wall Street Analysts Forecast Growth

RL has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of Ralph Lauren from $415.00 to $425.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. Zacks Research cut shares of Ralph Lauren from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 24th. Needham & Company LLC reissued a "buy" rating and issued a $400.00 price target on shares of Ralph Lauren in a report on Thursday, May 21st. Wall Street Zen raised shares of Ralph Lauren from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Finally, Weiss Ratings cut shares of Ralph Lauren from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, May 15th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $430.79.

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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