LPL Financial LLC Has $7.65 Million Stake in Ralph Lauren Corporation (NYSE:RL)

LPL Financial LLC raised its holdings in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 81.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,658 shares of the textile maker's stock after buying an additional 15,510 shares during the quarter. LPL Financial LLC owned about 0.06% of Ralph Lauren worth $7,650,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised 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 buying an additional 59 shares during the last quarter. Sentry Investment Management LLC raised 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 buying an additional 89 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Ralph Lauren during the first quarter valued at about $39,000. Parallel Advisors LLC raised its position in shares of Ralph Lauren by 74.4% during the first quarter. Parallel Advisors LLC now owns 272 shares of the textile maker's stock valued at $60,000 after buying an additional 116 shares during the last quarter. Finally, MRP Capital Investments LLC raised its position in shares of Ralph Lauren by 175.0% during the first quarter. MRP Capital Investments LLC now owns 275 shares of the textile maker's stock valued at $61,000 after buying an additional 175 shares during the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Ralph Lauren Trading Down 0.0%

NYSE RL traded down $0.02 during trading hours on Friday, hitting $290.37. The company's stock had a trading volume of 137,458 shares, compared to its average volume of 871,870. The stock has a fifty day moving average of $283.85 and a 200 day moving average of $257.64. Ralph Lauren Corporation has a twelve month low of $161.43 and a twelve month high of $306.34. The firm has a market capitalization of $17.52 billion, a P/E ratio of 23.22, a PEG ratio of 1.53 and a beta of 1.53. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58.

Ralph Lauren (NYSE:RL - Get Free Report) last posted its earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.27. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.65 billion. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The business's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the business posted $2.70 earnings per share. Equities research analysts forecast that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were issued a $0.9125 dividend. This represents a $3.65 annualized dividend and a yield of 1.3%. This is a boost from Ralph Lauren's previous quarterly dividend of $0.83. The ex-dividend date was Friday, June 27th. Ralph Lauren's dividend payout ratio (DPR) is 29.15%.

Ralph Lauren announced that its board has authorized a stock buyback program on Thursday, May 22nd that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the textile maker to repurchase up to 8.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts recently weighed in on RL shares. Cowen reissued a "buy" rating on shares of Ralph Lauren in a research note on Thursday, May 22nd. Evercore ISI upped their target price on shares of Ralph Lauren from $320.00 to $335.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. UBS Group upped their target price on shares of Ralph Lauren from $385.00 to $404.00 and gave the company a "buy" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. upped their target price on shares of Ralph Lauren from $355.00 to $406.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Finally, Citigroup upped their target price on shares of Ralph Lauren from $250.00 to $295.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $306.41.

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.