R Squared Ltd Invests $513,000 in Ralph Lauren Corporation $RL

Key Points

• R Squared Ltd purchased a stake in Ralph Lauren Corporation, buying 1,870 shares valued at approximately $513,000 in the second quarter.
• Several other hedge funds have increased their holdings in Ralph Lauren, with AQR Capital Management raising its stake by 55.7% in the first quarter.
• Ralph Lauren's recent quarterly earnings exceeded expectations with an EPS of $3.77, surpassing the consensus estimate of $3.50, and the firm reported a 13.7% year-over-year revenue increase.

R Squared Ltd bought a new stake in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,870 shares of the textile maker's stock, valued at approximately $513,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. grew its holdings in shares of Ralph Lauren by 22.3% in the 1st 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 during the last quarter. AQR Capital Management LLC raised its holdings in shares of Ralph Lauren by 55.7% during 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 acquiring an additional 414,275 shares during the period. Jennison Associates LLC boosted its stake in Ralph Lauren by 16.5% in the 1st quarter. Jennison Associates LLC now owns 565,687 shares of the textile maker's stock worth $124,870,000 after purchasing an additional 79,934 shares during the period. Allianz Asset Management GmbH raised its stake in Ralph Lauren by 118.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 388,138 shares of the textile maker's stock valued at $106,458,000 after purchasing an additional 210,343 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of Ralph Lauren by 7.0% in the second quarter. Truist Financial Corp now owns 322,020 shares of the textile maker's stock valued at $88,324,000 after purchasing an additional 21,183 shares in the last quarter. Institutional investors and hedge funds own 67.91% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on RL shares. TD Cowen lifted their target price on Ralph Lauren from $354.00 to $399.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Wall Street Zen raised shares of Ralph Lauren from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Evercore ISI increased their target price on shares of Ralph Lauren from $320.00 to $335.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Weiss Ratings restated a "buy (b)" rating on shares of Ralph Lauren in a report on Wednesday, October 8th. Finally, Cowen reiterated a "buy" rating on shares of Ralph Lauren in a report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ralph Lauren has a consensus rating of "Moderate Buy" and an average target price of $336.12.

Ralph Lauren Trading Up 1.5%

NYSE:RL opened at $337.04 on Friday. The company's 50 day moving average is $311.02 and its 200-day moving average is $279.90. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58. Ralph Lauren Corporation has a 12 month low of $176.61 and a 12 month high of $340.61. The firm has a market cap of $20.42 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 1.65 and a beta of 1.61.

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

Ralph Lauren Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were issued a dividend of $0.9125 per share. This represents a $3.65 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, September 26th. Ralph Lauren's dividend payout ratio (DPR) is presently 29.15%.

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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