Ralph Lauren Corporation $RL Shares Bought by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System increased its Ralph Lauren stake by 150.1% in the first quarter, buying 110,575 additional shares to bring its holdings to 184,249 shares worth about $63.4 million.
• Ralph Lauren reported strong quarterly results, with EPS of $2.80 beating estimates and revenue of $1.98 billion topping expectations; revenue also rose 16.6% year over year.
• The company raised its quarterly dividend to $1.00 per share from $0.91, while Wall Street sentiment remains positive with a consensus rating of Moderate Buy and an average price target of $430.07.

California Public Employees Retirement System grew its holdings in Ralph Lauren Corporation (NYSE:RL - Free Report) by 150.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,249 shares of the textile maker's stock after purchasing an additional 110,575 shares during the quarter. California Public Employees Retirement System owned about 0.30% of Ralph Lauren worth $63,380,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RL. Oregon Public Employees Retirement Fund increased its holdings in shares of Ralph Lauren by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,425 shares of the textile maker's stock valued at $1,565,000 after purchasing an additional 31 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Ralph Lauren by 14.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 251 shares of the textile maker's stock worth $90,000 after buying an additional 31 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Ralph Lauren by 23.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 179 shares of the textile maker's stock worth $63,000 after buying an additional 34 shares during the last quarter. Polymer Capital Management US LLC grew its holdings in Ralph Lauren by 1.1% in the 3rd quarter. Polymer Capital Management US LLC now owns 3,230 shares of the textile maker's stock valued at $1,013,000 after buying an additional 34 shares in the last quarter. Finally, Vident Advisory LLC grew its holdings in Ralph Lauren by 3.0% in the 4th quarter. Vident Advisory LLC now owns 1,257 shares of the textile maker's stock valued at $445,000 after buying an additional 37 shares in the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Ralph Lauren Stock Performance

Shares of Ralph Lauren stock opened at $380.64 on Monday. The firm has a market cap of $22.66 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.89 and a beta of 1.34. The company has a quick ratio of 1.57, a current ratio of 2.13 and a debt-to-equity ratio of 0.51. Ralph Lauren Corporation has a 52 week low of $273.04 and a 52 week high of $421.60. The business's fifty day simple moving average is $379.56 and its 200-day simple moving average is $366.38.

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

Ralph Lauren Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were 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 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, June 26th. Ralph Lauren's dividend payout ratio (DPR) is 26.47%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RL shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $437.00 price target on shares of Ralph Lauren in a report on Friday, May 22nd. Wells Fargo & Company raised their price objective on shares of Ralph Lauren from $400.00 to $415.00 and gave the stock an "overweight" rating 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 stock a "buy" rating in a research note on Friday, May 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 target price on shares of Ralph Lauren in a report on Thursday, May 21st. Finally, Barclays increased their price target on shares of Ralph Lauren from $430.00 to $439.00 and gave the company an "overweight" rating in a research note on Friday, May 22nd. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $430.07.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.