Envestnet Asset Management Inc. Buys 17,732 Shares of Ralph Lauren Corporation (NYSE:RL)

Envestnet Asset Management Inc. increased its stake in Ralph Lauren Corporation (NYSE:RL - Free Report) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 237,479 shares of the textile maker's stock after purchasing an additional 17,732 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.38% of Ralph Lauren worth $52,421,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RL. MassMutual Private Wealth & Trust FSB grew its position in shares of Ralph Lauren by 93.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker's stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Sentry Investment Management LLC grew its position in shares of Ralph Lauren by 178.0% during the first quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock valued at $31,000 after purchasing an additional 89 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Ralph Lauren by 1,270.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 137 shares of the textile maker's stock valued at $32,000 after purchasing an additional 127 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Ralph Lauren by 281.1% during the fourth quarter. Jones Financial Companies Lllp now owns 202 shares of the textile maker's stock valued at $47,000 after purchasing an additional 149 shares in the last quarter. Finally, Pinpoint Asset Management Ltd grew its position in shares of Ralph Lauren by 22,500.0% during the fourth quarter. Pinpoint Asset Management Ltd now owns 226 shares of the textile maker's stock valued at $52,000 after purchasing an additional 225 shares in the last quarter. 67.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on RL shares. BMO Capital Markets increased their price target on shares of Ralph Lauren from $197.00 to $205.00 and gave the company an "underperform" rating in a report on Friday, May 23rd. Needham & Company LLC reissued a "buy" rating and issued a $310.00 price objective on shares of Ralph Lauren in a research note on Friday, May 23rd. Wells Fargo & Company raised their price objective on shares of Ralph Lauren from $275.00 to $300.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Bank of America raised their price objective on shares of Ralph Lauren from $318.00 to $328.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, UBS Group set a $384.00 price objective on shares of Ralph Lauren and gave the stock a "buy" rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $292.88.

Ralph Lauren Trading Down 1.0%

NYSE:RL opened at $287.00 on Friday. The company has a market capitalization of $17.31 billion, a P/E ratio of 24.72, a PEG ratio of 2.19 and a beta of 1.49. The firm has a fifty day simple moving average of $271.72 and a 200-day simple moving average of $248.70. Ralph Lauren Corporation has a 12 month low of $155.96 and a 12 month high of $295.52. The company has a current ratio of 1.78, a quick ratio of 1.33 and a debt-to-equity ratio of 0.38.

Ralph Lauren (NYSE:RL - Get Free Report) last posted its earnings results on Thursday, May 22nd. The textile maker reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.27. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.64 billion. Ralph Lauren had a net margin of 10.49% and a return on equity of 31.76%. The firm's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.71 earnings per share. On average, equities research analysts anticipate that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were given a dividend of $0.9125 per share. The ex-dividend date was Friday, June 27th. This is an increase from Ralph Lauren's previous quarterly dividend of $0.83. This represents a $3.65 dividend on an annualized basis and a yield of 1.27%. Ralph Lauren's payout ratio is currently 31.44%.

Ralph Lauren declared that its board has initiated a share repurchase plan on Thursday, May 22nd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the textile maker to repurchase up to 8.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its stock is undervalued.

Ralph Lauren 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.

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