OMNI 360 Wealth Inc. Makes New Investment in Ralph Lauren Corporation (NYSE:RL)

OMNI 360 Wealth Inc. acquired a new position in Ralph Lauren Corporation (NYSE:RL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,125 shares of the textile maker's stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors have also modified their holdings of RL. MassMutual Private Wealth & Trust FSB boosted its position in shares of Ralph Lauren by 93.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker's stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Sentry Investment Management LLC lifted its stake in Ralph Lauren by 178.0% during the first quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock worth $31,000 after purchasing an additional 89 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Ralph Lauren by 1,270.0% during the fourth 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 boosted its holdings in Ralph Lauren by 281.1% during the fourth quarter. Jones Financial Companies Lllp now owns 202 shares of the textile maker's stock valued at $47,000 after purchasing an additional 149 shares in the last quarter. Finally, Pinpoint Asset Management Ltd grew its stake in shares of Ralph Lauren by 22,500.0% in the 4th quarter. Pinpoint Asset Management Ltd now owns 226 shares of the textile maker's stock valued at $52,000 after purchasing an additional 225 shares during the period. Institutional investors and hedge funds own 67.91% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RL. Bank of America increased their target price on Ralph Lauren from $318.00 to $328.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. UBS Group set a $384.00 price objective on Ralph Lauren and gave the company a "buy" rating in a report on Friday, May 23rd. Wells Fargo & Company lifted their price objective on Ralph Lauren from $275.00 to $300.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Needham & Company LLC reissued a "buy" rating and set a $310.00 price objective on shares of Ralph Lauren in a report on Friday, May 23rd. Finally, Wall Street Zen cut Ralph Lauren from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $292.88.

Ralph Lauren Trading Down 0.3%

Shares of RL traded down $0.93 during trading hours on Tuesday, hitting $284.88. 627,676 shares of the stock traded hands, compared to its average volume of 813,382. The business has a fifty day moving average of $266.78 and a 200-day moving average of $247.23. The company has a current ratio of 1.78, a quick ratio of 1.33 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $17.19 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 2.13 and a beta of 1.49. Ralph Lauren Corporation has a 1-year low of $155.96 and a 1-year high of $289.33.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The textile maker reported $2.27 EPS for the quarter, topping analysts' consensus estimates of $2.00 by $0.27. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.64 billion. Ralph Lauren had a return on equity of 31.76% and a net margin of 10.49%. The company's revenue was up 8.3% on a year-over-year basis. During the same period last year, the company earned $1.71 earnings per share. Analysts expect that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a $0.9125 dividend. The ex-dividend date is Friday, June 27th. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.28%. This is a boost from Ralph Lauren's previous quarterly dividend of $0.83. Ralph Lauren's dividend payout ratio is currently 31.44%.

Ralph Lauren announced that its Board of Directors has initiated a stock repurchase program on Thursday, May 22nd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the textile maker to purchase up to 8.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

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.