Invesco Ltd. Has $333.96 Million Stake in Ralph Lauren Corporation (NYSE:RL)

Key Points

• Invesco Ltd. has increased its stake in Ralph Lauren Corporation by 22.3%, now owning 2.45% of the company, valued at approximately $333.96 million.
• Ralph Lauren reported an earnings per share (EPS) of $3.77, exceeding expectations, and a 13.7% year-over-year revenue growth, reaching $1.72 billion.
• Ralph Lauren's Board of Directors approved a $1.50 billion stock repurchase program, allowing for the purchase of up to 8.8% of its stock, reflecting confidence in the company's valuation.

Invesco Ltd. lifted its position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 22.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,512,903 shares of the textile maker's stock after purchasing an additional 275,391 shares during the quarter. Invesco Ltd. owned 2.45% of Ralph Lauren worth $333,958,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RL. GAMMA Investing LLC raised its position in shares of Ralph Lauren by 24,164.5% during the first quarter. GAMMA Investing LLC now owns 254,292 shares of the textile maker's stock worth $56,132,000 after purchasing an additional 253,244 shares during the period. Wedge Capital Management L L P NC purchased a new stake in Ralph Lauren in the 1st quarter valued at $37,517,000. Capitolis Liquid Global Markets LLC purchased a new stake in Ralph Lauren in the 4th quarter valued at $20,788,000. Jennison Associates LLC raised its position in Ralph Lauren by 16.5% in the 1st quarter. Jennison Associates LLC now owns 565,687 shares of the textile maker's stock valued at $124,870,000 after buying an additional 79,934 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Ralph Lauren in the 4th quarter valued at $16,848,000. 67.91% of the stock is owned by institutional investors and hedge funds.

Ralph Lauren Stock Up 0.1%

RL stock opened at $288.61 on Tuesday. 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 $17.41 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 2.06 and a beta of 1.53. Ralph Lauren Corporation has a fifty-two week low of $157.84 and a fifty-two week high of $306.34. The stock has a fifty day moving average of $282.69 and a 200-day moving average of $256.73.

Ralph Lauren (NYSE:RL - Get Free Report) last issued its 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 return on equity of 33.72% and a net margin of 10.91%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the company earned $2.70 EPS. The firm's revenue was up 13.7% compared to the same quarter last year. As a group, equities research analysts predict that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren declared that its Board of Directors has approved a stock repurchase program on Thursday, May 22nd that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the textile maker to buy up to 8.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership 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 paid a $0.9125 dividend. The ex-dividend date was Friday, June 27th. This represents a $3.65 annualized dividend and a yield of 1.3%. This is an increase from Ralph Lauren's previous quarterly dividend of $0.83. Ralph Lauren's dividend payout ratio is 29.15%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RL shares. Citigroup increased their price target on Ralph Lauren from $250.00 to $295.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Wall Street Zen lowered Ralph Lauren from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. 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 research report on Friday, May 23rd. Cfra Research lowered Ralph Lauren from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, May 20th. Finally, Bank of America raised their target price on Ralph Lauren from $318.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Ralph Lauren has a consensus rating of "Moderate Buy" and a consensus price target of $306.41.

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.

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