Ralph Lauren Corporation $RL Shares Purchased by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its ownership in Ralph Lauren Corporation by 118.3%, acquiring an additional 210,343 shares during the second quarter, bringing their total to 388,138 shares.
• Ralph Lauren's recent earnings report showed $3.77 earnings per share, exceeding analyst expectations and marking a 13.7% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.9125 per share, translating to an annualized dividend of $3.65 and a yield of 1.1%.

Allianz Asset Management GmbH boosted its position in Ralph Lauren Corporation (NYSE:RL - Free Report) by 118.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 388,138 shares of the textile maker's stock after acquiring an additional 210,343 shares during the quarter. Allianz Asset Management GmbH owned 0.64% of Ralph Lauren worth $106,458,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OMNI 360 Wealth Inc. acquired a new position in Ralph Lauren in the first quarter valued at $248,000. Crossmark Global Holdings Inc. boosted its holdings in Ralph Lauren by 13.5% in the first quarter. Crossmark Global Holdings Inc. now owns 22,590 shares of the textile maker's stock valued at $4,987,000 after acquiring an additional 2,684 shares during the last quarter. Truist Financial Corp boosted its holdings in Ralph Lauren by 7.8% in the first quarter. Truist Financial Corp now owns 300,837 shares of the textile maker's stock valued at $66,407,000 after acquiring an additional 21,681 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Ralph Lauren by 31.5% in the first quarter. BNP Paribas Financial Markets now owns 171,141 shares of the textile maker's stock valued at $37,778,000 after acquiring an additional 40,977 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Ralph Lauren by 8.1% in the first quarter. Envestnet Asset Management Inc. now owns 237,479 shares of the textile maker's stock valued at $52,421,000 after acquiring an additional 17,732 shares during the last quarter. Institutional investors and hedge funds own 67.91% of the company's stock.

Wall Street Analyst Weigh In

RL has been the topic of a number of recent research reports. UBS Group boosted their price objective on Ralph Lauren from $385.00 to $404.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Cowen restated a "buy" rating on shares of Ralph Lauren in a research note on Tuesday, September 30th. Weiss Ratings restated a "buy (b)" rating on shares of Ralph Lauren in a research note on Wednesday, October 8th. BTIG Research initiated coverage on Ralph Lauren in a research note on Tuesday. They set a "buy" rating and a $400.00 price objective on the stock. Finally, Needham & Company LLC boosted their price objective on Ralph Lauren from $335.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $333.94.

Ralph Lauren Stock Up 1.4%

Shares of NYSE RL opened at $322.94 on Friday. Ralph Lauren Corporation has a 1 year low of $176.61 and a 1 year high of $330.11. The firm has a market cap of $19.56 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 1.59 and a beta of 1.61. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.84. The stock's 50-day simple moving average is $307.12 and its 200-day simple moving average is $275.67.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.50 by $0.27. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company earned $2.70 earnings per share. The company's revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, equities analysts anticipate that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were given a dividend of $0.9125 per share. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, September 26th. Ralph Lauren's payout ratio is presently 29.15%.

Ralph Lauren Profile

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.

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