KBC Group NV Increases Holdings in Ralph Lauren Corporation $RL

Key Points

• KBC Group NV increased its stake in Ralph Lauren by 82.4% in the first quarter, buying 7,988 additional shares and bringing its total holdings to 17,682 shares worth about $6.08 million.
• Ralph Lauren reported strong quarterly results, with EPS of $2.80 beating estimates and revenue of $1.98 billion topping forecasts; revenue also rose 16.6% year over year.
• The company raised its dividend to $1.00 per quarter, and analysts remain bullish overall, with 15 Buy ratings and a consensus price target of $430.79.

KBC Group NV boosted its stake in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 82.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,682 shares of the textile maker's stock after buying an additional 7,988 shares during the period. KBC Group NV's holdings in Ralph Lauren were worth $6,082,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ralph Lauren by 5.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,432 shares of the textile maker's stock valued at $758,000 after acquiring an additional 174 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Ralph Lauren by 0.9% in the first quarter. Empowered Funds LLC now owns 12,334 shares of the textile maker's stock valued at $2,723,000 after purchasing an additional 114 shares during the period. Woodline Partners LP increased its position in Ralph Lauren by 39.5% during the first quarter. Woodline Partners LP now owns 3,369 shares of the textile maker's stock worth $744,000 after purchasing an additional 954 shares during the last quarter. Focus Partners Wealth raised its stake in Ralph Lauren by 29.5% during the first quarter. Focus Partners Wealth now owns 3,812 shares of the textile maker's stock worth $841,000 after purchasing an additional 869 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in Ralph Lauren during the second quarter worth about $386,000. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Ralph Lauren Trading Down 4.1%

Shares of RL stock opened at $371.28 on Friday. Ralph Lauren Corporation has a fifty-two week low of $273.04 and a fifty-two week high of $421.60. The company has a 50 day moving average price of $383.02 and a 200 day moving average price of $367.00. The stock has a market capitalization of $22.10 billion, a P/E ratio of 24.57, a price-to-earnings-growth ratio of 1.92 and a beta of 1.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.57 and a current ratio of 2.13.

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

Ralph Lauren Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. This is a boost from Ralph Lauren's previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 26th. Ralph Lauren's dividend payout ratio (DPR) is 26.47%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RL shares. BTIG Research reissued a "buy" rating and issued a $450.00 price target on shares of Ralph Lauren in a research note on Friday, May 22nd. Wall Street Zen raised shares of Ralph Lauren from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Bank of America upped their price objective on Ralph Lauren from $400.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, April 16th. UBS Group increased their price objective on Ralph Lauren from $480.00 to $511.00 and gave the stock a "buy" rating in a research report on Friday, May 22nd. Finally, Needham & Company LLC restated a "buy" rating and issued a $400.00 target price on shares of Ralph Lauren in a research report on Thursday, May 21st. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $430.79.

About Ralph Lauren

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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