Private Client Services LLC Makes New $974,000 Investment in Ralph Lauren Corporation $RL

Key Points

• Private Client Services LLC made a new investment of $974,000 by acquiring 3,550 shares of Ralph Lauren Corporation in the second quarter.
• Ralph Lauren reported a quarterly EPS of $3.77, surpassing analysts' estimates and achieving a revenue of $1.72 billion for the quarter, a year-over-year increase of 13.7%.
• The company declared a quarterly dividend of $0.9125 per share, with a dividend yield of 1.2%, and has initiated a share buyback plan worth $1.50 billion.

Private Client Services LLC purchased a new position in Ralph Lauren Corporation (NYSE:RL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,550 shares of the textile maker's stock, valued at approximately $974,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in Ralph Lauren by 22.3% in the first quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker's stock worth $333,958,000 after acquiring an additional 275,391 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Ralph Lauren by 55.7% in the first quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker's stock worth $245,468,000 after acquiring an additional 414,275 shares in the last quarter. Jennison Associates LLC boosted its holdings in Ralph Lauren by 16.5% in the first quarter. Jennison Associates LLC now owns 565,687 shares of the textile maker's stock worth $124,870,000 after acquiring an additional 79,934 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Ralph Lauren by 1.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 311,274 shares of the textile maker's stock worth $71,898,000 after acquiring an additional 5,742 shares in the last quarter. Finally, Truist Financial Corp boosted its holdings in Ralph Lauren by 7.8% in the first 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 in the last quarter. Institutional investors own 67.91% of the company's stock.

Ralph Lauren Stock Performance

Shares of RL opened at $315.23 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $19.09 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 1.60 and a beta of 1.60. The stock has a 50 day moving average of $296.18 and a 200 day moving average of $262.21. Ralph Lauren Corporation has a 12 month low of $176.61 and a 12 month high of $321.77.

Ralph Lauren (NYSE:RL - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 EPS for the quarter, beating analysts' consensus estimates of $3.50 by $0.27. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.65 billion. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.Ralph Lauren's revenue was up 13.7% on a year-over-year basis. During the same period last year, the business posted $2.70 earnings per share. As a group, sell-side analysts forecast that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be given a dividend of $0.9125 per share. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.2%. Ralph Lauren's payout ratio is 29.15%.

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

Analysts Set New Price Targets

Several research analysts have issued reports on RL shares. The Goldman Sachs Group increased their price target on Ralph Lauren from $262.00 to $324.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Cowen restated a "buy" rating on shares of Ralph Lauren in a report on Thursday, May 22nd. Telsey Advisory Group raised their target price on Ralph Lauren from $315.00 to $335.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Jefferies Financial Group restated a "buy" rating on shares of Ralph Lauren in a report on Wednesday, August 27th. Finally, Wells Fargo & Company raised their target price on Ralph Lauren from $320.00 to $345.00 and gave the company an "overweight" rating in a report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $308.76.

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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