Jennison Associates LLC Purchases 35,525 Shares of Ralph Lauren Corporation $RL

Key Points

• Jennison Associates LLC increased its stake in Ralph Lauren by 6.4% in the first quarter, buying 35,525 additional shares and bringing its total holding to 593,537 shares worth about $204.2 million.
• Ralph Lauren reported strong quarterly results, with earnings of $2.80 per share versus the $2.52 estimate and revenue of $1.98 billion, up 16.6% year over year.
• The company also raised its quarterly dividend to $1.00 per share from $0.91, while analysts remain largely positive with a consensus rating of Moderate Buy and an average price target of $430.07.

Jennison Associates LLC boosted its position in Ralph Lauren Corporation (NYSE:RL - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 593,537 shares of the textile maker's stock after buying an additional 35,525 shares during the period. Jennison Associates LLC owned approximately 0.98% of Ralph Lauren worth $204,171,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. M&T Bank Corp grew its stake in Ralph Lauren by 6,216.7% during the fourth quarter. M&T Bank Corp now owns 73,337 shares of the textile maker's stock worth $25,933,000 after purchasing an additional 72,176 shares during the period. Vest Financial LLC lifted its stake in Ralph Lauren by 177.9% in the fourth quarter. Vest Financial LLC now owns 54,701 shares of the textile maker's stock valued at $19,343,000 after buying an additional 35,016 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in Ralph Lauren by 28.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 41,688 shares of the textile maker's stock valued at $14,741,000 after buying an additional 9,133 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of Ralph Lauren by 106.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 63,180 shares of the textile maker's stock worth $22,552,000 after buying an additional 32,622 shares in the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of Ralph Lauren by 8.1% during the 4th quarter. Truist Financial Corp now owns 371,086 shares of the textile maker's stock worth $131,220,000 after buying an additional 27,848 shares in the last quarter. Institutional investors own 67.91% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RL. Weiss Ratings lowered shares of Ralph Lauren from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, May 15th. Needham & Company LLC reissued a "buy" rating and set a $400.00 target price on shares of Ralph Lauren in a research note on Thursday, May 21st. Citigroup upgraded shares of Ralph Lauren from a "neutral" rating to a "buy" rating and raised their price target for the stock from $360.00 to $400.00 in a report on Tuesday, March 24th. Zacks Research downgraded shares of Ralph Lauren from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. Finally, Wells Fargo & Company upped their price objective on shares of Ralph Lauren from $400.00 to $415.00 and gave the company an "overweight" rating in a report on Friday, May 22nd. 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, Ralph Lauren currently has an average rating of "Moderate Buy" and a consensus price target of $430.07.

Ralph Lauren Stock Performance

NYSE RL opened at $380.64 on Friday. The company has a fifty day simple moving average of $379.56 and a 200 day simple moving average of $366.31. Ralph Lauren Corporation has a 12-month low of $273.04 and a 12-month high of $421.60. The company has a current ratio of 2.13, a quick ratio of 1.57 and a debt-to-equity ratio of 0.51. The company has a market cap of $22.66 billion, a P/E ratio of 25.19, a PEG ratio of 1.89 and a beta of 1.34.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The textile maker reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.28. Ralph Lauren had a net margin of 11.60% and a return on equity of 38.17%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the business posted $2.27 EPS. Ralph Lauren's quarterly revenue was up 16.6% on a year-over-year basis. Sell-side analysts predict that Ralph Lauren Corporation will post 18.33 earnings per share for the current fiscal year.

Ralph Lauren Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, June 26th. This is a boost from Ralph Lauren's previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Ralph Lauren's payout ratio is presently 26.47%.

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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