Procyon Advisors LLC Takes $1.55 Million Position in Ralph Lauren Co. (NYSE:RL)

Procyon Advisors LLC purchased a new position in shares of Ralph Lauren Co. (NYSE:RL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 7,489 shares of the textile maker's stock, valued at approximately $1,552,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RL. Mather Group LLC. boosted its holdings in shares of Ralph Lauren by 4.1% in the 4th quarter. Mather Group LLC. now owns 1,182 shares of the textile maker's stock valued at $273,000 after purchasing an additional 47 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted 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 worth $27,000 after buying an additional 59 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Ralph Lauren by 6.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,005 shares of the textile maker's stock worth $231,000 after buying an additional 62 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Ralph Lauren by 19.6% in the fourth quarter. TD Private Client Wealth LLC now owns 446 shares of the textile maker's stock valued at $103,000 after buying an additional 73 shares in the last quarter. Finally, True Wealth Design LLC grew its position in Ralph Lauren by 28.0% in the fourth quarter. True Wealth Design LLC now owns 347 shares of the textile maker's stock valued at $80,000 after acquiring an additional 76 shares during the last quarter. Institutional investors own 67.91% of the company's stock.

Ralph Lauren Trading Down 0.1%

NYSE RL opened at $274.86 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.31 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $238.80 and a 200 day simple moving average of $240.17. Ralph Lauren Co. has a 12 month low of $155.96 and a 12 month high of $289.33. The firm has a market capitalization of $16.58 billion, a P/E ratio of 25.08, a PEG ratio of 1.73 and a beta of 1.51.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its earnings results on Thursday, May 22nd. The textile maker reported $2.27 EPS for the quarter, beating the consensus estimate of $2.00 by $0.27. Ralph Lauren had a net margin of 10.14% and a return on equity of 30.88%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the company posted $1.71 earnings per share. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts predict that Ralph Lauren Co. will post 12.01 EPS for the current fiscal year.

Ralph Lauren Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a $0.9125 dividend. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Friday, June 27th. This is an increase from Ralph Lauren's previous quarterly dividend of $0.83. Ralph Lauren's payout ratio is presently 31.44%.

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

Wall Street Analyst Weigh In

RL has been the subject of a number of research reports. Jefferies Financial Group increased their target price on shares of Ralph Lauren from $250.00 to $328.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Citigroup increased their price objective on shares of Ralph Lauren from $250.00 to $295.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Bank of America raised their target price on shares of Ralph Lauren from $318.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Barclays upped their price target on shares of Ralph Lauren from $260.00 to $321.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $292.88.

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.

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