Ralph Lauren Corporation $RL Shares Acquired by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp boosted its Ralph Lauren stake by 595.3% in the first quarter, ending with 14,684 shares valued at about $5.05 million.
• Ralph Lauren reported better-than-expected quarterly results, with EPS of $2.80 versus estimates of $2.52 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 broadly positive with a consensus Moderate Buy rating and average target price around $430.

Fifth Third Bancorp lifted its holdings in Ralph Lauren Corporation (NYSE:RL - Free Report) by 595.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,684 shares of the textile maker's stock after purchasing an additional 12,572 shares during the period. Fifth Third Bancorp's holdings in Ralph Lauren were worth $5,051,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. M&T Bank Corp grew its holdings in shares of Ralph Lauren by 6,216.7% during the 4th quarter. M&T Bank Corp now owns 73,337 shares of the textile maker's stock valued at $25,933,000 after acquiring an additional 72,176 shares in the last quarter. Vest Financial LLC raised its position in shares of Ralph Lauren by 177.9% during the fourth quarter. Vest Financial LLC now owns 54,701 shares of the textile maker's stock valued at $19,343,000 after buying an additional 35,016 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Ralph Lauren by 28.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 41,688 shares of the textile maker's stock worth $14,741,000 after purchasing an additional 9,133 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in Ralph Lauren by 106.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 63,180 shares of the textile maker's stock valued at $22,552,000 after buying an additional 32,622 shares during the period. Finally, Patton Fund Management Inc. raised its holdings in shares of Ralph Lauren by 2,184.8% in the 4th quarter. Patton Fund Management Inc. now owns 22,848 shares of the textile maker's stock worth $8,079,000 after buying an additional 21,848 shares in the last quarter. Hedge funds and other institutional investors own 67.91% of the company's stock.

Ralph Lauren Price Performance

Shares of NYSE RL opened at $380.64 on Friday. The stock has a fifty day simple moving average of $379.56 and a two-hundred day simple moving average of $366.31. The firm has a market cap of $22.66 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 1.93 and a beta of 1.34. Ralph Lauren Corporation has a 1-year low of $273.04 and a 1-year high of $421.60. The company has a current ratio of 2.13, a quick ratio of 1.57 and a debt-to-equity ratio of 0.51.

Ralph Lauren (NYSE:RL - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share (EPS) for the quarter, beating 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 company's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the company posted $2.27 EPS. Analysts anticipate that Ralph Lauren Corporation will post 18.33 earnings per share for the current year.

Ralph Lauren Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were issued a dividend of $1.00 per share. This is an increase from Ralph Lauren's previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, June 26th. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. Ralph Lauren's payout ratio is 26.47%.

Analysts Set New Price Targets

RL has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $437.00 target price on shares of Ralph Lauren in a report on Friday, May 22nd. BTIG Research reissued a "buy" rating and issued a $450.00 target price on shares of Ralph Lauren in a research note on Friday, May 22nd. Barclays upped their price target on shares of Ralph Lauren from $430.00 to $439.00 and gave the company an "overweight" rating in a report on Friday, May 22nd. Bank of America increased their price objective on Ralph Lauren from $400.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Finally, Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Ralph Lauren in a research note on Thursday, May 21st. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Ralph Lauren presently has a consensus rating of "Moderate Buy" and an average target price of $430.07.

Ralph Lauren Company 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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