Public Employees Retirement System of Ohio Grows Stock Holdings in Ralph Lauren Corporation $RL

Key Points

• The Public Employees Retirement System of Ohio increased its shareholding in Ralph Lauren Corporation by 7.2% in Q2, owning approximately 0.06% of the company, valued at $10.32 million.
• Ralph Lauren reported quarterly earnings of $3.77 EPS, exceeding estimates of $3.50, with a revenue of $1.72 billion for the quarter.
• The company declared a quarterly dividend of $0.9125 per share, with an annualized yield of 1.2%, to be paid on October 10th.

Public Employees Retirement System of Ohio raised its position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 7.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,634 shares of the textile maker's stock after buying an additional 2,534 shares during the period. Public Employees Retirement System of Ohio owned about 0.06% of Ralph Lauren worth $10,322,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. boosted its position in shares of Ralph Lauren by 22.3% during the first quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker's stock worth $333,958,000 after buying an additional 275,391 shares during the period. 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 valued at $245,468,000 after purchasing an additional 414,275 shares during the period. 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 valued at $124,870,000 after purchasing an additional 79,934 shares during the period. 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 valued at $66,407,000 after purchasing an additional 21,681 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Ralph Lauren by 24,164.5% in the first quarter. GAMMA Investing LLC now owns 254,292 shares of the textile maker's stock valued at $56,132,000 after purchasing an additional 253,244 shares during the period. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Ralph Lauren Trading Up 3.0%

NYSE:RL opened at $312.04 on Friday. The business's 50-day moving average is $300.85 and its two-hundred day moving average is $266.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.30. Ralph Lauren Corporation has a 12 month low of $176.61 and a 12 month high of $321.77. The firm has a market capitalization of $18.90 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 1.58 and a beta of 1.60.

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

Ralph Lauren Announces Dividend

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

Analyst Ratings Changes

A number of analysts have issued reports on RL shares. Barclays decreased their price target on Ralph Lauren from $360.00 to $353.00 and set an "overweight" rating for the company in a report on Wednesday, September 17th. Zacks Research raised Ralph Lauren to a "strong-buy" rating in a report on Tuesday, August 12th. Jefferies Financial Group lifted their price objective on Ralph Lauren from $325.00 to $365.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. UBS Group lifted their price objective on Ralph Lauren from $385.00 to $404.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Wells Fargo & Company upped their price target on Ralph Lauren from $320.00 to $345.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $312.82.

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.

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