State of Alaska Department of Revenue Has $5.34 Million Position in Ralph Lauren Corporation $RL

Key Points

• The State of Alaska Department of Revenue increased its stake in Ralph Lauren Corporation by 317.1%, now holding 19,481 shares worth approximately $5.34 million.
• Ralph Lauren reported earnings of $3.77 per share for the last quarter, surpassing estimates, with a total revenue of $1.72 billion, a 13.7% increase year-over-year.
• The company announced a quarterly dividend of $0.9125 per share, resulting in an annualized yield of 1.2%, with the ex-dividend date set for September 26th.

State of Alaska Department of Revenue boosted its stake in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 317.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,481 shares of the textile maker's stock after acquiring an additional 14,810 shares during the quarter. State of Alaska Department of Revenue's holdings in Ralph Lauren were worth $5,343,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. OMNI 360 Wealth Inc. acquired a new stake in shares of Ralph Lauren during the 1st quarter worth about $248,000. Crossmark Global Holdings Inc. increased its holdings in shares of Ralph Lauren by 13.5% during the first quarter. Crossmark Global Holdings Inc. now owns 22,590 shares of the textile maker's stock worth $4,987,000 after buying an additional 2,684 shares in the last quarter. Truist Financial Corp increased its holdings in Ralph Lauren by 7.8% during the 1st quarter. Truist Financial Corp now owns 300,837 shares of the textile maker's stock valued at $66,407,000 after purchasing an additional 21,681 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Ralph Lauren by 31.5% during the 1st quarter. BNP Paribas Financial Markets now owns 171,141 shares of the textile maker's stock valued at $37,778,000 after purchasing an additional 40,977 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Ralph Lauren by 8.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 237,479 shares of the textile maker's stock valued at $52,421,000 after purchasing an additional 17,732 shares in the last quarter. Institutional investors and hedge funds own 67.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RL shares. Jefferies Financial Group raised their target price on Ralph Lauren from $325.00 to $365.00 and gave the company a "buy" rating in a research note on Wednesday, September 17th. Evercore ISI raised their price objective on shares of Ralph Lauren from $320.00 to $335.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. raised their price target on shares of Ralph Lauren from $423.00 to $430.00 and gave the company an "overweight" rating in a report on Friday. Barclays lowered their target price on Ralph Lauren from $360.00 to $353.00 and set an "overweight" rating for the company in a research note on Wednesday, September 17th. Finally, Telsey Advisory Group lifted their target price on Ralph Lauren from $335.00 to $350.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $312.82.

Ralph Lauren Stock Up 3.0%

Shares of Ralph Lauren stock opened at $312.04 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58. Ralph Lauren Corporation has a 12 month low of $176.61 and a 12 month high of $321.77. The business has a fifty day simple moving average of $300.85 and a 200 day simple moving average of $267.10. The stock has a market cap of $18.90 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 1.58 and a beta of 1.60.

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

Ralph Lauren Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be issued a dividend of $0.9125 per share. The ex-dividend date is Friday, September 26th. This represents a $3.65 dividend on an annualized basis and a yield of 1.2%. Ralph Lauren's payout ratio is currently 29.15%.

Ralph Lauren Company 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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