Contravisory Investment Management Inc. Raises Holdings in Ralph Lauren Co. (NYSE:RL)

Contravisory Investment Management Inc. lifted its position in Ralph Lauren Co. (NYSE:RL - Free Report) by 31.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,285 shares of the textile maker's stock after purchasing an additional 1,015 shares during the quarter. Contravisory Investment Management Inc.'s holdings in Ralph Lauren were worth $946,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RL. Janney Montgomery Scott LLC raised its stake in Ralph Lauren by 47.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,274 shares of the textile maker's stock valued at $1,218,000 after purchasing an additional 1,698 shares in the last quarter. Blue Trust Inc. raised its position in shares of Ralph Lauren by 24.2% during the 4th quarter. Blue Trust Inc. now owns 662 shares of the textile maker's stock valued at $153,000 after buying an additional 129 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Ralph Lauren during the 4th quarter valued at $286,000. Chicago Partners Investment Group LLC bought a new stake in shares of Ralph Lauren during the 4th quarter worth $246,000. Finally, Greenleaf Trust purchased a new position in Ralph Lauren in the fourth quarter worth $206,000. Hedge funds and other institutional investors own 67.91% of the company's stock.

Ralph Lauren Stock Down 1.1%

Ralph Lauren stock traded down $3.07 on Thursday, hitting $274.79. 653,797 shares of the stock traded hands, compared to its average volume of 823,014. Ralph Lauren Co. has a 1 year low of $155.96 and a 1 year high of $289.33. The firm has a market cap of $16.97 billion, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 1.73 and a beta of 1.44. The company has a current ratio of 1.76, a quick ratio of 1.31 and a debt-to-equity ratio of 0.39. The business's fifty day simple moving average is $236.79 and its 200 day simple moving average is $239.23.

Ralph Lauren (NYSE:RL - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The textile maker reported $2.27 EPS for the quarter, topping the consensus estimate of $2.00 by $0.27. Ralph Lauren had a net margin of 10.14% and a return on equity of 30.88%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the firm posted $1.71 earnings per share. Ralph Lauren's quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts forecast that Ralph Lauren Co. will post 12.01 earnings per share for the current year.

Ralph Lauren Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a $0.9125 dividend. This is a boost from Ralph Lauren's previous quarterly dividend of $0.83. The ex-dividend date is Friday, June 27th. This represents a $3.65 dividend on an annualized basis and a yield of 1.33%. Ralph Lauren's payout ratio is presently 31.44%.

Ralph Lauren announced that its board has authorized a share repurchase plan on Thursday, May 22nd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the textile maker to purchase up to 8.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

RL has been the subject of several research analyst reports. Citigroup lifted their price target on Ralph Lauren from $250.00 to $295.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Needham & Company LLC reiterated a "buy" rating and set a $310.00 price target on shares of Ralph Lauren in a research report on Friday, May 23rd. Cowen restated a "buy" rating on shares of Ralph Lauren in a report on Thursday, May 22nd. Wall Street Zen lowered shares of Ralph Lauren from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $315.00 price target on shares of Ralph Lauren in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $292.88.

Ralph Lauren Company Profile

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.