Ralph Lauren Corporation $RL Holdings Raised by First Trust Advisors LP

Key Points

• First Trust Advisors LP increased its Ralph Lauren stake by 20% in the first quarter, buying 117,412 additional shares and bringing its total holding to 703,637 shares, worth about $242 million.
• Ralph Lauren delivered strong quarterly results, with EPS of $2.80 beating estimates and revenue of $1.98 billion topping forecasts; revenue also rose 16.6% year over year.
• The company raised its quarterly dividend to $1.00 per share from $0.91, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average target price of $430.79.

First Trust Advisors LP raised its stake in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 20.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 703,637 shares of the textile maker's stock after buying an additional 117,412 shares during the period. First Trust Advisors LP owned about 1.16% of Ralph Lauren worth $242,044,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ralph Lauren by 5.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,432 shares of the textile maker's stock worth $758,000 after acquiring an additional 174 shares in the last quarter. Empowered Funds LLC grew its stake in Ralph Lauren by 0.9% in the first quarter. Empowered Funds LLC now owns 12,334 shares of the textile maker's stock valued at $2,723,000 after purchasing an additional 114 shares in the last quarter. Woodline Partners LP grew its stake in Ralph Lauren by 39.5% in the first quarter. Woodline Partners LP now owns 3,369 shares of the textile maker's stock valued at $744,000 after purchasing an additional 954 shares in the last quarter. Focus Partners Wealth increased its position in Ralph Lauren by 29.5% in the 1st quarter. Focus Partners Wealth now owns 3,812 shares of the textile maker's stock worth $841,000 after purchasing an additional 869 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in shares of Ralph Lauren during the 2nd quarter worth about $386,000. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Ralph Lauren Stock Up 1.1%

RL opened at $387.21 on Thursday. The firm has a market cap of $23.05 billion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 1.90 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 50 day moving average price of $382.27 and a 200 day moving average price of $366.94. Ralph Lauren Corporation has a twelve month low of $273.04 and a twelve month high of $421.60.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The textile maker reported $2.80 EPS for the quarter, beating the consensus estimate of $2.52 by $0.28. Ralph Lauren had a return on equity of 38.17% and a net margin of 11.60%.The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the company posted $2.27 earnings per share. The company's revenue for the quarter was up 16.6% compared to the same quarter last year. Research analysts forecast that Ralph Lauren Corporation will post 18.33 EPS for the current year.

Ralph Lauren Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. This is an increase from Ralph Lauren's previous quarterly dividend of $0.91. Ralph Lauren's payout ratio is currently 26.47%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RL shares. Needham & Company LLC reissued a "buy" rating and issued a $400.00 price target on shares of Ralph Lauren in a research note on Thursday, May 21st. BTIG Research reaffirmed a "buy" rating and set a $450.00 price objective on shares of Ralph Lauren in a research report on Friday, May 22nd. UBS Group lifted their target price on shares of Ralph Lauren from $480.00 to $511.00 and gave the company a "buy" rating in a research note on Friday, May 22nd. Barclays boosted their target price on shares of Ralph Lauren from $430.00 to $439.00 and gave the stock an "overweight" rating in a research report on Friday, May 22nd. Finally, Weiss Ratings lowered shares of Ralph Lauren from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, May 15th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $430.79.

About Ralph Lauren

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.

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