Ralph Lauren Corporation (NYSE:RL) Shares Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC lifted its holdings in Ralph Lauren Corporation (NYSE:RL - Free Report) by 97.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,618 shares of the textile maker's stock after purchasing an additional 4,250 shares during the period. Wealthspire Advisors LLC's holdings in Ralph Lauren were worth $1,902,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RL. MassMutual Private Wealth & Trust FSB raised its holdings in Ralph Lauren by 93.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker's stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Sentry Investment Management LLC increased its position in shares of Ralph Lauren by 178.0% in the 1st quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock valued at $31,000 after purchasing an additional 89 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Ralph Lauren in the 1st quarter valued at $39,000. Parallel Advisors LLC lifted its position in shares of Ralph Lauren by 74.4% during the 1st quarter. Parallel Advisors LLC now owns 272 shares of the textile maker's stock worth $60,000 after purchasing an additional 116 shares during the last quarter. Finally, MRP Capital Investments LLC lifted its position in shares of Ralph Lauren by 175.0% during the 1st quarter. MRP Capital Investments LLC now owns 275 shares of the textile maker's stock worth $61,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 67.91% of the company's stock.

Ralph Lauren Stock Performance

Shares of Ralph Lauren stock traded up $5.24 on Friday, reaching $288.58. 1,068,802 shares of the stock were exchanged, compared to its average volume of 689,554. The company has a current ratio of 1.84, a quick ratio of 1.33 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $17.41 billion, a PE ratio of 23.05, a PEG ratio of 2.07 and a beta of 1.53. Ralph Lauren Corporation has a 1-year low of $156.69 and a 1-year high of $306.34. The business has a fifty day moving average price of $282.43 and a two-hundred day moving average price of $256.47.

Ralph Lauren (NYSE:RL - Get Free Report) last issued 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. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the firm earned $2.70 EPS. The business's revenue was up 13.7% on a year-over-year basis. As a group, research analysts anticipate that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren declared that its Board of Directors has authorized a share buyback program on Thursday, May 22nd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the textile maker to purchase up to 8.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Ralph Lauren Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were issued a dividend of $0.9125 per share. This is an increase from Ralph Lauren's previous quarterly dividend of $0.83. The ex-dividend date was Friday, June 27th. This represents a $3.65 annualized dividend and a yield of 1.3%. Ralph Lauren's payout ratio is 31.44%.

Analyst Ratings Changes

Several research firms recently commented on RL. UBS Group increased their target price on Ralph Lauren from $385.00 to $404.00 and gave the company a "buy" rating in a report on Friday. The Goldman Sachs Group increased their price target on shares of Ralph Lauren from $262.00 to $324.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Needham & Company LLC restated a "buy" rating and issued a $335.00 price objective (up previously from $310.00) on shares of Ralph Lauren in a research note on Tuesday. Wall Street Zen downgraded Ralph Lauren from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, Telsey Advisory Group upped their target price on Ralph Lauren from $315.00 to $335.00 and gave the company an "outperform" rating in a research report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Ralph Lauren has an average rating of "Moderate Buy" and a consensus target price of $306.41.

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.