Ralph Lauren Corporation $RL Position Boosted by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP sharply increased its stake in Ralph Lauren, boosting holdings by 1,002.1% in the fourth quarter to 157,122 shares valued at about $55.6 million.
• Ralph Lauren reported better-than-expected quarterly results, posting EPS of $2.80 versus the $2.52 estimate and revenue of $1.98 billion, up 16.6% year over year.
• The company also raised its quarterly dividend to $1.00 per share from $0.91, while analysts remain bullish with a consensus rating of Moderate Buy and an average price target of $428.29.

Engineers Gate Manager LP lifted its stake in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 1,002.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 157,122 shares of the textile maker's stock after purchasing an additional 142,865 shares during the period. Ralph Lauren comprises about 0.7% of Engineers Gate Manager LP's investment portfolio, making the stock its 23rd biggest holding. Engineers Gate Manager LP owned about 0.26% of Ralph Lauren worth $55,560,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RL. Orion Porfolio Solutions LLC lifted its position in shares of Ralph Lauren by 8,937.8% during the second quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker's stock worth $264,225,000 after purchasing an additional 952,681 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Ralph Lauren by 40.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 895,017 shares of the textile maker's stock worth $316,487,000 after purchasing an additional 255,511 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Ralph Lauren by 38.6% during the fourth quarter. AQR Capital Management LLC now owns 881,360 shares of the textile maker's stock worth $311,658,000 after purchasing an additional 245,242 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Ralph Lauren by 70.5% during the fourth quarter. First Trust Advisors LP now owns 586,225 shares of the textile maker's stock worth $207,295,000 after purchasing an additional 242,386 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Ralph Lauren during the third quarter worth $74,841,000. Institutional investors own 67.91% of the company's stock.

Ralph Lauren Price Performance

Shares of RL opened at $404.16 on Thursday. The company has a market cap of $24.06 billion, a P/E ratio of 26.75, a PEG ratio of 2.02 and a beta of 1.35. The stock has a fifty day moving average price of $368.48 and a 200 day moving average price of $361.27. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.13 and a quick ratio of 1.57. Ralph Lauren Corporation has a 12 month low of $259.30 and a 12 month high of $421.60.

Ralph Lauren (NYSE:RL - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The textile maker reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.28. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.85 billion. Ralph Lauren had a return on equity of 38.17% and a net margin of 11.60%.The firm's revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.27 EPS. On average, research analysts forecast that Ralph Lauren Corporation will post 18.33 earnings per share for the current year.

Ralph Lauren Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a dividend of $1.00 per share. This is a boost from Ralph Lauren's previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, June 26th. Ralph Lauren's payout ratio is presently 24.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RL. Bank of America increased 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. UBS Group increased their target price on shares of Ralph Lauren from $480.00 to $511.00 and gave the stock a "buy" rating in a report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $437.00 target price on shares of Ralph Lauren in a report on Friday, May 22nd. Needham & Company LLC reissued a "buy" rating and set a $400.00 target price on shares of Ralph Lauren in a report on Thursday, May 21st. Finally, BTIG Research reissued a "buy" rating and set a $450.00 target price on shares of Ralph Lauren in a report on Friday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Ralph Lauren presently has a consensus rating of "Moderate Buy" and an average price target of $428.29.

Ralph Lauren 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.

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