Quantinno Capital Management LP Acquires 65,361 Shares of Ralph Lauren Corporation $RL

Key Points

• Quantinno Capital Management increased its Ralph Lauren stake by 24.8%, buying 65,361 additional shares to own 328,660 shares valued at approximately $113.1 million. Institutional investors collectively own 67.91% of the company.
• Ralph Lauren reported strong quarterly results, with EPS of $2.80 and revenue of $1.98 billion, exceeding analyst expectations and representing 16.6% year-over-year revenue growth.
• The company raised its quarterly dividend to $1.00 per share, while analysts maintained a generally positive outlook: 15 rate the stock a Buy and three a Hold, with a consensus price target of $430.79.

Quantinno Capital Management LP lifted its holdings in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 24.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 328,660 shares of the textile maker's stock after acquiring an additional 65,361 shares during the period. Quantinno Capital Management LP owned approximately 0.54% of Ralph Lauren worth $113,056,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RL. M&T Bank Corp lifted its position in shares of Ralph Lauren by 6,216.7% during the 4th quarter. M&T Bank Corp now owns 73,337 shares of the textile maker's stock worth $25,933,000 after buying an additional 72,176 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Ralph Lauren by 28.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 41,688 shares of the textile maker's stock valued at $14,741,000 after acquiring an additional 9,133 shares during the period. Vest Financial LLC raised its stake in Ralph Lauren by 177.9% during the fourth quarter. Vest Financial LLC now owns 54,701 shares of the textile maker's stock worth $19,343,000 after acquiring an additional 35,016 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in Ralph Lauren by 106.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 63,180 shares of the textile maker's stock worth $22,552,000 after acquiring an additional 32,622 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of Ralph Lauren by 8.1% during the fourth quarter. Truist Financial Corp now owns 371,086 shares of the textile maker's stock valued at $131,220,000 after acquiring an additional 27,848 shares during the period. 67.91% of the stock is owned by institutional investors.

Ralph Lauren Stock Performance

Shares of NYSE:RL opened at $380.11 on Tuesday. Ralph Lauren Corporation has a twelve month low of $273.04 and a twelve month high of $421.60. The firm has a market cap of $22.62 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.85 and a beta of 1.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.57 and a current ratio of 2.13. The business has a fifty day moving average of $385.04 and a 200-day moving average of $367.23.

Ralph Lauren (NYSE:RL - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share (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 analysts' expectations of $1.85 billion. During the same period in the previous year, the business posted $2.27 earnings per share. The firm's revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities research analysts predict that Ralph Lauren Corporation will post 18.33 EPS for the current fiscal year.

Ralph Lauren Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were paid a $1.00 dividend. This is a boost 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 1.1%. The ex-dividend date of this dividend was Friday, June 26th. Ralph Lauren's payout ratio is presently 26.47%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Bank of America upped their target price on shares of Ralph Lauren from $400.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. BTIG Research reissued a "buy" rating and set a $450.00 price target on shares of Ralph Lauren in a report on Friday, May 22nd. Wells Fargo & Company boosted their price target on shares of Ralph Lauren from $415.00 to $425.00 and gave the company an "overweight" rating in a research report on Tuesday, July 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 price objective on shares of Ralph Lauren in a research note on Thursday, May 21st. Finally, Zacks Research lowered shares of Ralph Lauren from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $430.79.

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.

Want to see what other hedge funds are holding RL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ralph Lauren Corporation (NYSE:RL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.