Truist Financial Corp Boosts Stake in Ralph Lauren Corporation $RL

Key Points

• Truist Financial Corp increased its stake in Ralph Lauren Corporation by 7.0%, holding approximately 0.53% of the company, valued at about $88.3 million as of the latest SEC filing.
• Ralph Lauren reported a 13.7% increase in quarterly revenue year-over-year, reaching $1.72 billion, and EPS of $3.77, surpassing analyst expectations.
• The company declared a quarterly dividend of $0.9125 per share, with a yield of 1.1%, to be paid to shareholders on October 10th.

Truist Financial Corp lifted its holdings in Ralph Lauren Corporation (NYSE:RL - Free Report) by 7.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 322,020 shares of the textile maker's stock after buying an additional 21,183 shares during the period. Truist Financial Corp owned approximately 0.53% of Ralph Lauren worth $88,324,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of RL. AQR Capital Management LLC lifted its stake in shares of Ralph Lauren by 55.7% in the first quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker's stock worth $245,468,000 after buying an additional 414,275 shares in the last quarter. Invesco Ltd. raised its stake in Ralph Lauren by 22.3% during the first quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker's stock worth $333,958,000 after purchasing an additional 275,391 shares during the period. Wedge Capital Management L L P NC purchased a new position in Ralph Lauren during the first quarter worth about $37,517,000. Trexquant Investment LP raised its stake in Ralph Lauren by 509.5% during the first quarter. Trexquant Investment LP now owns 158,062 shares of the textile maker's stock worth $34,891,000 after purchasing an additional 132,128 shares during the period. Finally, Jump Financial LLC raised its stake in Ralph Lauren by 8,741.2% during the first quarter. Jump Financial LLC now owns 123,600 shares of the textile maker's stock worth $27,283,000 after purchasing an additional 122,202 shares during the period. 67.91% of the stock is owned by hedge funds and other institutional investors.

Ralph Lauren Trading Up 1.3%

Shares of RL stock opened at $317.77 on Thursday. 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 has a market capitalization of $19.25 billion, a P/E ratio of 25.38, a price-to-earnings-growth ratio of 1.58 and a beta of 1.61. The company has a 50 day moving average price of $302.21 and a 200 day moving average price of $268.38. Ralph Lauren Corporation has a fifty-two week low of $176.61 and a fifty-two week high of $321.77.

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

Ralph Lauren Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.9125 per share. This represents a $3.65 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, September 26th. Ralph Lauren's payout ratio is 29.15%.

Analysts Set New Price Targets

RL has been the topic of a number of analyst reports. Jefferies Financial Group lifted their target price on shares of Ralph Lauren from $325.00 to $365.00 and gave the stock a "buy" rating in a research note on Wednesday, September 17th. Cfra Research raised shares of Ralph Lauren from a "moderate sell" rating to a "hold" rating in a research note on Monday, August 11th. Needham & Company LLC lifted their target price on shares of Ralph Lauren from $335.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. TD Cowen lifted their target price on shares of Ralph Lauren from $354.00 to $399.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Barclays reduced their price target on shares of Ralph Lauren from $360.00 to $353.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $320.53.

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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