Parcion Private Wealth LLC Makes New Investment in Ralph Lauren Corporation (NYSE:RL)

Parcion Private Wealth LLC bought a new position in Ralph Lauren Corporation (NYSE:RL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,086 shares of the textile maker's stock, valued at approximately $240,000.

Several other hedge funds also recently made changes to their positions in the company. OMNI 360 Wealth Inc. acquired a new position in Ralph Lauren during the 1st quarter valued at approximately $248,000. Crossmark Global Holdings Inc. raised its stake in Ralph Lauren by 13.5% during the 1st quarter. Crossmark Global Holdings Inc. now owns 22,590 shares of the textile maker's stock valued at $4,987,000 after acquiring an additional 2,684 shares in the last quarter. Triglav Skladi D.O.O. bought a new stake in Ralph Lauren during the 4th quarter valued at $10,872,000. Truist Financial Corp raised its stake in Ralph Lauren by 7.8% during the 1st quarter. Truist Financial Corp now owns 300,837 shares of the textile maker's stock valued at $66,407,000 after acquiring an additional 21,681 shares in the last quarter. Finally, Keystone Investors PTE Ltd. bought a new stake in Ralph Lauren during the 4th quarter valued at $2,264,000. Institutional investors and hedge funds own 67.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RL shares. Jefferies Financial Group boosted their price objective on Ralph Lauren from $250.00 to $328.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Barclays boosted their price objective on Ralph Lauren from $260.00 to $321.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Cowen reissued a "buy" rating on shares of Ralph Lauren in a research note on Thursday, May 22nd. BMO Capital Markets boosted their price objective on Ralph Lauren from $197.00 to $205.00 and gave the stock an "underperform" rating in a research note on Friday, May 23rd. Finally, Citigroup boosted their price objective on Ralph Lauren from $250.00 to $295.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. 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 assigned a strong buy rating to the company. According to data from MarketBeat, Ralph Lauren currently has an average rating of "Moderate Buy" and a consensus price target of $292.88.

Ralph Lauren Price Performance

Ralph Lauren stock traded up $1.96 on Thursday, reaching $286.65. The company's stock had a trading volume of 531,535 shares, compared to its average volume of 800,133. Ralph Lauren Corporation has a twelve month low of $155.96 and a twelve month high of $295.52. The company has a market cap of $17.29 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 2.17 and a beta of 1.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.33 and a current ratio of 1.78. The business's fifty day moving average price is $275.32 and its 200 day moving average price is $250.11.

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

Ralph Lauren Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were issued a dividend of $0.9125 per share. The ex-dividend date was Friday, June 27th. This represents a $3.65 dividend on an annualized basis and a yield of 1.27%. This is a boost from Ralph Lauren's previous quarterly dividend of $0.83. Ralph Lauren's dividend payout ratio (DPR) is 31.44%.

Ralph Lauren declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 22nd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the textile maker to buy up to 8.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

About Ralph Lauren

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.