Mackenzie Financial Corp Buys 42,471 Shares of Ralph Lauren Co. (NYSE:RL)

Mackenzie Financial Corp boosted its stake in Ralph Lauren Co. (NYSE:RL - Free Report) by 48.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,201 shares of the textile maker's stock after purchasing an additional 42,471 shares during the period. Mackenzie Financial Corp owned about 0.21% of Ralph Lauren worth $30,074,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in Ralph Lauren by 1,270.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 137 shares of the textile maker's stock worth $32,000 after purchasing an additional 127 shares during the period. Jones Financial Companies Lllp increased its stake in Ralph Lauren by 281.1% in the 4th quarter. Jones Financial Companies Lllp now owns 202 shares of the textile maker's stock worth $47,000 after purchasing an additional 149 shares during the period. Pinpoint Asset Management Ltd increased its stake in Ralph Lauren by 22,500.0% in the 4th quarter. Pinpoint Asset Management Ltd now owns 226 shares of the textile maker's stock worth $52,000 after purchasing an additional 225 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in Ralph Lauren in the 4th quarter worth approximately $63,000. Finally, True Wealth Design LLC increased its stake in Ralph Lauren by 28.0% in the 4th quarter. True Wealth Design LLC now owns 347 shares of the textile maker's stock worth $80,000 after purchasing an additional 76 shares during the period. 67.91% of the stock is owned by hedge funds and other institutional investors.

Ralph Lauren Stock Down 0.7%

Shares of NYSE RL traded down $2.07 during mid-day trading on Friday, hitting $275.66. 183,583 shares of the stock traded hands, compared to its average volume of 827,436. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.31 and a current ratio of 1.76. Ralph Lauren Co. has a 52 week low of $155.96 and a 52 week high of $289.33. The company has a market cap of $17.03 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 1.73 and a beta of 1.44. The stock has a fifty day moving average price of $232.55 and a 200-day moving average price of $237.35.

Ralph Lauren (NYSE:RL - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The textile maker reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.27. Ralph Lauren had a return on equity of 30.88% and a net margin of 10.14%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the company posted $1.71 earnings per share. The firm's revenue was up 8.3% on a year-over-year basis. Research analysts anticipate that Ralph Lauren Co. will post 12.01 EPS for the current year.

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

Ralph Lauren Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be issued a $0.9125 dividend. This represents a $3.65 annualized dividend and a yield of 1.32%. This is an increase from Ralph Lauren's previous quarterly dividend of $0.83. The ex-dividend date is Friday, June 27th. Ralph Lauren's payout ratio is 31.44%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Cowen reissued a "buy" rating on shares of Ralph Lauren in a research note on Thursday, May 22nd. Wells Fargo & Company boosted their target price on Ralph Lauren from $275.00 to $300.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. TD Cowen boosted their target price on Ralph Lauren from $258.00 to $268.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Bank of America boosted their target price on Ralph Lauren from $318.00 to $328.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Ralph Lauren from $285.00 to $342.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $292.88.

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.