Patton Fund Management Inc. Purchases New Holdings in Ralph Lauren Corporation $RL

Key Points

• Patton Fund Management Inc. has acquired a new stake in Ralph Lauren Corporation, purchasing 1,000 shares valued at approximately $274,000 in the second quarter.
• Several institutional investors have increased their holdings in Ralph Lauren, with 67.91% of the company's stock now owned by institutional investors and hedge funds.
• Ralph Lauren reported $3.77 EPS for the last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.9125 per share, with a yield of 1.2%.

Patton Fund Management Inc. purchased a new stake in Ralph Lauren Corporation (NYSE:RL - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,000 shares of the textile maker's stock, valued at approximately $274,000.

Other institutional investors have also recently bought and sold shares of the company. OMNI 360 Wealth Inc. acquired a new stake in Ralph Lauren during the 1st quarter worth $248,000. Crossmark Global Holdings Inc. grew its holdings 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 worth $4,987,000 after acquiring an additional 2,684 shares during the period. Truist Financial Corp grew its holdings in Ralph Lauren by 7.8% during the 1st quarter. Truist Financial Corp now owns 300,837 shares of the textile maker's stock worth $66,407,000 after acquiring an additional 21,681 shares during the period. BNP Paribas Financial Markets grew its holdings in Ralph Lauren by 31.5% during the 1st quarter. BNP Paribas Financial Markets now owns 171,141 shares of the textile maker's stock worth $37,778,000 after acquiring an additional 40,977 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Ralph Lauren by 8.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 237,479 shares of the textile maker's stock worth $52,421,000 after acquiring an additional 17,732 shares during the period. Institutional investors and hedge funds own 67.91% of the company's stock.

Analyst Upgrades and Downgrades

RL has been the subject of a number of analyst reports. Telsey Advisory Group lifted their target price on shares of Ralph Lauren from $335.00 to $350.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. Zacks Research raised shares of Ralph Lauren to a "strong-buy" rating in a report on Tuesday, August 12th. Wall Street Zen raised shares of Ralph Lauren from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. UBS Group lifted their price target on shares of Ralph Lauren from $385.00 to $404.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Needham & Company LLC lifted their price target on shares of Ralph Lauren from $335.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $312.82.

Ralph Lauren Price Performance

Shares of NYSE RL opened at $312.04 on Friday. The company has a fifty day moving average price of $300.85 and a 200 day moving average price of $266.74. The firm has a market cap of $18.90 billion, a PE ratio of 24.92, a PEG ratio of 1.58 and a beta of 1.60. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. Ralph Lauren Corporation has a 1-year low of $176.61 and a 1-year high of $321.77.

Ralph Lauren (NYSE:RL - Get Free Report) last released its earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.50 by $0.27. The firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.65 billion. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The company's revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.70 EPS. Research analysts predict that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.9125 per share. This represents a $3.65 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 26th. Ralph Lauren's dividend payout ratio is 29.15%.

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.

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