Allianz Asset Management GmbH Has $39.25 Million Holdings in Ralph Lauren Corporation (NYSE:RL)

Allianz Asset Management GmbH trimmed its holdings in Ralph Lauren Corporation (NYSE:RL - Free Report) by 14.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 177,795 shares of the textile maker's stock after selling 30,553 shares during the period. Allianz Asset Management GmbH owned 0.29% of Ralph Lauren worth $39,247,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in shares of Ralph Lauren by 30.6% in the 4th quarter. Invesco Ltd. now owns 1,237,512 shares of the textile maker's stock valued at $285,841,000 after purchasing an additional 289,924 shares in the last quarter. GAMMA Investing LLC lifted its position in Ralph Lauren by 24,164.5% during the 1st quarter. GAMMA Investing LLC now owns 254,292 shares of the textile maker's stock worth $56,132,000 after acquiring an additional 253,244 shares in the last quarter. FMR LLC boosted its holdings in Ralph Lauren by 16.9% in the 4th quarter. FMR LLC now owns 1,415,473 shares of the textile maker's stock worth $326,946,000 after acquiring an additional 205,121 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Ralph Lauren in the first quarter valued at approximately $37,517,000. Finally, Schroder Investment Management Group raised its stake in shares of Ralph Lauren by 671.0% during the fourth quarter. Schroder Investment Management Group now owns 136,239 shares of the textile maker's stock valued at $31,637,000 after purchasing an additional 118,569 shares during the period. 67.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RL has been the subject of a number of recent analyst reports. Bank of America raised their price target on shares of Ralph Lauren from $318.00 to $328.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Cowen reaffirmed a "buy" rating on shares of Ralph Lauren in a report on Thursday, May 22nd. UBS Group set a $384.00 price target on Ralph Lauren and gave the company a "buy" rating in a report on Friday, May 23rd. BMO Capital Markets boosted their price target on Ralph Lauren from $197.00 to $205.00 and gave the company an "underperform" rating in a report on Friday, May 23rd. Finally, Citigroup boosted their price target on Ralph Lauren from $250.00 to $295.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Ralph Lauren currently has a consensus rating of "Moderate Buy" and an average price target of $294.13.

Ralph Lauren Price Performance

Shares of Ralph Lauren stock traded up $1.25 during trading on Thursday, hitting $295.58. The stock had a trading volume of 926,151 shares, compared to its average volume of 555,992. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.78 and a quick ratio of 1.33. The firm has a market cap of $17.83 billion, a P/E ratio of 25.46, a PEG ratio of 2.23 and a beta of 1.49. The business has a fifty day moving average of $277.53 and a two-hundred day moving average of $251.73. Ralph Lauren Corporation has a fifty-two week low of $155.96 and a fifty-two week high of $299.00.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its earnings results on Thursday, May 22nd. The textile maker reported $2.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.00 by $0.27. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. Ralph Lauren had a return on equity of 31.76% and a net margin of 10.49%. Ralph Lauren's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.71 earnings per share. On average, sell-side analysts expect that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were given a dividend of $0.9125 per share. This represents a $3.65 annualized dividend and a yield of 1.23%. This is a positive change from Ralph Lauren's previous quarterly dividend of $0.83. The ex-dividend date was Friday, June 27th. Ralph Lauren's payout ratio is presently 31.44%.

Ralph Lauren declared that its board has authorized a stock repurchase plan on Thursday, May 22nd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the textile maker to purchase up to 8.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

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.