Ralph Lauren Corporation $RL Stock Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems increased its Ralph Lauren stake by 39.3% in the third quarter, ending with 11,193 shares valued at approximately $3.97 million. Institutional investors collectively own 67.91% of the company.
• Ralph Lauren reported quarterly revenue of $1.96 billion and earnings of $4.59 per share, exceeding analyst expectations, while revenue rose 13.9% year over year.
• Analysts maintain a bullish outlook, with 15 Buy ratings and two Holds; the stock has a “Moderate Buy” consensus and an average price target of $449.07, versus a recent price of $392.43.

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 39.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,193 shares of the textile maker's stock after purchasing an additional 3,160 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Ralph Lauren were worth $3,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Ralph Lauren by 55.5% during the 2nd quarter. Wellington Management Group LLP now owns 476,472 shares of the textile maker's stock valued at $191,261,000 after buying an additional 170,091 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Ralph Lauren by 65.7% in the 1st quarter. Bank of New York Mellon Corp now owns 415,919 shares of the textile maker's stock valued at $143,072,000 after buying an additional 164,965 shares during the period. First Trust Advisors LP boosted its stake in shares of Ralph Lauren by 20.0% in the first quarter. First Trust Advisors LP now owns 703,637 shares of the textile maker's stock worth $242,044,000 after buying an additional 117,412 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Ralph Lauren by 150.1% in the first quarter. California Public Employees Retirement System now owns 184,249 shares of the textile maker's stock worth $63,380,000 after buying an additional 110,575 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Ralph Lauren during the third quarter worth about $25,987,000. 67.91% of the stock is owned by hedge funds and other institutional investors.

Ralph Lauren Trading Down 0.1%

Shares of Ralph Lauren stock opened at $392.43 on Monday. The firm has a market capitalization of $23.38 billion, a PE ratio of 24.73, a P/E/G ratio of 1.77 and a beta of 1.30. Ralph Lauren Corporation has a twelve month low of $306.55 and a twelve month high of $421.60. The firm's 50-day moving average price is $361.03 and its 200 day moving average price is $367.03. The company has a current ratio of 2.04, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53.

Ralph Lauren (NYSE:RL - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The textile maker reported $4.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $0.27. Ralph Lauren had a return on equity of 39.10% and a net margin of 11.76%. The company had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same period in the previous year, the firm posted $3.77 EPS. Ralph Lauren's revenue was up 13.9% compared to the same quarter last year. On average, sell-side analysts predict that Ralph Lauren Corporation will post 18.88 EPS for the current fiscal year.

Ralph Lauren Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 25th. Ralph Lauren's dividend payout ratio is currently 25.20%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Raymond James Financial reissued an "outperform" rating and issued a $425.00 price target on shares of Ralph Lauren in a report on Friday, August 7th. Telsey Advisory Group raised their price objective on shares of Ralph Lauren from $460.00 to $470.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Citigroup lifted their target price on shares of Ralph Lauren from $400.00 to $455.00 and gave the company a "buy" rating in a report on Friday, August 7th. Wells Fargo & Company boosted their target price on shares of Ralph Lauren from $415.00 to $425.00 and gave the company an "overweight" rating in a research note on Tuesday, July 21st. Finally, Needham & Company LLC increased their price target on shares of Ralph Lauren from $405.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Ralph Lauren presently has an average rating of "Moderate Buy" and a consensus target price of $449.07.

Ralph Lauren Profile

Ralph Lauren Corporation NYSE: RL is a global luxury lifestyle company founded by Ralph Lauren in 1967. The company designs, markets and distributes apparel, accessories, home furnishings, fragrances and related products under a portfolio of brands that includes Ralph Lauren, Polo Ralph Lauren, Lauren Ralph Lauren, Ralph Lauren Purple Label and Double RL.

Ralph Lauren serves men, women and children through a combination of directly operated stores, digital commerce, wholesale distribution and licensing arrangements.

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