Edgestream Partners L.P. Boosts Holdings in Ralph Lauren Corporation (NYSE:RL)

Edgestream Partners L.P. increased its holdings in Ralph Lauren Corporation (NYSE:RL - Free Report) by 110.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 12,219 shares of the textile maker's stock after buying an additional 6,410 shares during the quarter. Edgestream Partners L.P.'s holdings in Ralph Lauren were worth $2,697,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RL. OMNI 360 Wealth Inc. bought a new position in shares of Ralph Lauren during the 1st quarter valued at approximately $248,000. Crossmark Global Holdings Inc. grew its stake in shares of Ralph Lauren by 13.5% during the 1st quarter. Crossmark Global Holdings Inc. now owns 22,590 shares of the textile maker's stock valued at $4,987,000 after acquiring an additional 2,684 shares during the period. Triglav Skladi D.O.O. bought a new position in shares of Ralph Lauren during the 4th quarter valued at approximately $10,872,000. Truist Financial Corp grew its stake in shares of Ralph Lauren by 7.8% during the 1st quarter. Truist Financial Corp now owns 300,837 shares of the textile maker's stock valued at $66,407,000 after acquiring an additional 21,681 shares during the period. Finally, Keystone Investors PTE Ltd. bought a new position in shares of Ralph Lauren during the 4th quarter valued at approximately $2,264,000. 67.91% of the stock is currently owned by institutional investors.

Ralph Lauren Stock Down 0.5%

Shares of NYSE RL opened at $284.63 on Thursday. The stock has a market cap of $17.17 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 2.18 and a beta of 1.49. The company has a quick ratio of 1.33, a current ratio of 1.78 and a debt-to-equity ratio of 0.38. Ralph Lauren Corporation has a 52-week low of $155.96 and a 52-week high of $295.52. The business has a 50-day moving average price of $274.61 and a 200 day moving average price of $249.74.

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, beating the consensus estimate of $2.00 by $0.27. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.64 billion. Ralph Lauren had a return on equity of 31.76% and a net margin of 10.49%. The firm's revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.71 EPS. Equities research analysts forecast that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

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

Ralph Lauren Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were issued a dividend of $0.9125 per share. This represents a $3.65 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Friday, June 27th. This is a boost from Ralph Lauren's previous quarterly dividend of $0.83. Ralph Lauren's dividend payout ratio is 31.44%.

Analysts Set New Price Targets

Several research firms have weighed in on RL. Wells Fargo & Company upped their price target on Ralph Lauren from $275.00 to $300.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. The Goldman Sachs Group increased their price target on Ralph Lauren from $262.00 to $324.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Barclays increased their price target on Ralph Lauren from $260.00 to $321.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Bank of America increased their price target on Ralph Lauren from $318.00 to $328.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Cfra Research lowered Ralph Lauren from a "hold" rating to a "moderate sell" rating in a report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $292.88.

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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