Sellaronda Global Management LP Makes New $16.34 Million Investment in Ralph Lauren Corporation $RL

Key Points

• Sellaronda Global Management LP opened a new position in Ralph Lauren, buying 47,500 shares valued at about $16.34 million. The stock now represents roughly 10.7% of the fund’s holdings and its 6th-largest position.
• Several other institutional investors also increased their Ralph Lauren stakes, and overall hedge funds and other institutional investors own 67.91% of the company.
• Analysts remain broadly positive on RL, with 15 Buy ratings and 3 Hold ratings; the consensus target price is $430.79. Ralph Lauren also recently beat earnings expectations, posted $2.80 EPS on $1.98 billion in revenue, and raised its quarterly dividend to $1.00 per share.

Sellaronda Global Management LP acquired a new position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 47,500 shares of the textile maker's stock, valued at approximately $16,340,000. Ralph Lauren comprises about 10.7% of Sellaronda Global Management LP's holdings, making the stock its 6th biggest holding. Sellaronda Global Management LP owned about 0.08% of Ralph Lauren at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of RL. Bank of Nova Scotia lifted its position in Ralph Lauren by 549.4% in the first quarter. Bank of Nova Scotia now owns 20,164 shares of the textile maker's stock valued at $6,936,000 after acquiring an additional 17,059 shares during the last quarter. Sei Investments Co. increased its position in shares of Ralph Lauren by 44.0% during the first quarter. Sei Investments Co. now owns 124,887 shares of the textile maker's stock worth $42,960,000 after purchasing an additional 38,183 shares in the last quarter. Lido Advisors LLC acquired a new stake in shares of Ralph Lauren during the first quarter worth about $216,000. Acumen Wealth Advisors LLC lifted its holdings in shares of Ralph Lauren by 1,654.2% in the 1st quarter. Acumen Wealth Advisors LLC now owns 1,877 shares of the textile maker's stock valued at $647,000 after purchasing an additional 1,770 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Ralph Lauren by 20.0% in the 1st quarter. First Trust Advisors LP now owns 703,637 shares of the textile maker's stock valued at $242,044,000 after purchasing an additional 117,412 shares during the last quarter. 67.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on RL. Barclays increased their price objective on 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 lifted their target price on shares of Ralph Lauren from $400.00 to $450.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price target on shares of Ralph Lauren in a research report on Thursday, May 21st. BTIG Research reiterated a "buy" rating and set a $450.00 price target on shares of Ralph Lauren in a research note on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $437.00 price objective on shares of Ralph Lauren in a research report on Friday, May 22nd. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $430.79.

Ralph Lauren Price Performance

Ralph Lauren stock opened at $371.28 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.13 and a quick ratio of 1.57. The business has a 50 day simple moving average of $383.02 and a 200-day simple moving average of $367.00. Ralph Lauren Corporation has a 12 month low of $273.04 and a 12 month high of $421.60. The stock has a market capitalization of $22.10 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 1.92 and a beta of 1.34.

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

Ralph Lauren Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were paid a dividend of $1.00 per share. This is a positive change 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 dividend yield of 1.1%. Ralph Lauren's dividend payout ratio (DPR) is currently 26.47%.

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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