Pictet Asset Management Holding SA Has $98 Million Stock Holdings in Ralph Lauren Corporation $RL

Key Points

• Pictet Asset Management trimmed its Ralph Lauren stake by 7.9% in the first quarter, but still held 284,904 shares worth about $98 million.
• Ralph Lauren posted strong quarterly results, with EPS of $2.80 beating expectations and revenue rising 16.6% year over year to $1.98 billion.
• The company raised its quarterly dividend to $1.00 per share, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $430.07.

Pictet Asset Management Holding SA reduced its stake in Ralph Lauren Corporation (NYSE:RL - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 284,904 shares of the textile maker's stock after selling 24,423 shares during the period. Pictet Asset Management Holding SA owned 0.47% of Ralph Lauren worth $98,004,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Orion Porfolio Solutions LLC boosted its position in shares of Ralph Lauren by 8,937.8% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker's stock worth $264,225,000 after purchasing an additional 952,681 shares in the last quarter. Invesco Ltd. increased its position in Ralph Lauren by 26.2% in the 4th quarter. Invesco Ltd. now owns 1,324,018 shares of the textile maker's stock valued at $468,186,000 after buying an additional 275,263 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Ralph Lauren by 40.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 895,017 shares of the textile maker's stock worth $316,487,000 after buying an additional 255,511 shares during the period. AQR Capital Management LLC raised its stake in Ralph Lauren by 38.6% during the 4th quarter. AQR Capital Management LLC now owns 881,360 shares of the textile maker's stock worth $311,658,000 after buying an additional 245,242 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Ralph Lauren by 70.5% in the fourth quarter. First Trust Advisors LP now owns 586,225 shares of the textile maker's stock worth $207,295,000 after acquiring an additional 242,386 shares in the last quarter. Institutional investors and hedge funds own 67.91% of the company's stock.

Ralph Lauren Stock Up 0.1%

RL stock opened at $411.69 on Monday. The firm has a market capitalization of $24.50 billion, a PE ratio of 27.25, a P/E/G ratio of 2.04 and a beta of 1.35. The company has a quick ratio of 1.57, a current ratio of 2.13 and a debt-to-equity ratio of 0.51. Ralph Lauren Corporation has a twelve month low of $266.20 and a twelve month high of $421.60. The stock's 50 day moving average is $373.85 and its 200-day moving average is $363.73.

Ralph Lauren (NYSE:RL - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The textile maker reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.28. Ralph Lauren had a return on equity of 38.17% and a net margin of 11.60%.The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the firm posted $2.27 EPS. Ralph Lauren's quarterly revenue was up 16.6% compared to the same quarter last year. Sell-side analysts expect that Ralph Lauren Corporation will post 18.33 EPS for the current fiscal year.

Ralph Lauren Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, June 26th. This is an increase from Ralph Lauren's previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. Ralph Lauren's payout ratio is 26.47%.

Analysts Set New Price Targets

RL has been the subject of several recent research reports. Needham & Company LLC restated a "buy" rating and set a $400.00 price objective on shares of Ralph Lauren in a report on Thursday, May 21st. Bank of America lifted their price target on shares of Ralph Lauren from $400.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Wall Street Zen lowered shares of Ralph Lauren from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Barclays upped their price objective on shares of Ralph Lauren from $430.00 to $439.00 and gave the stock an "overweight" rating in a report on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $437.00 price objective on shares of Ralph Lauren in a research note on Friday, May 22nd. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $430.07.

Ralph Lauren Company Profile

Ralph Lauren Corporation NYSE: RL is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men's neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren's product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.

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