Truist Financial Corp Purchases 21,681 Shares of Ralph Lauren Corporation (NYSE:RL)

Truist Financial Corp raised its stake in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 7.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 300,837 shares of the textile maker's stock after purchasing an additional 21,681 shares during the period. Truist Financial Corp owned 0.49% of Ralph Lauren worth $66,407,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Ralph Lauren by 93.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker's stock valued at $27,000 after purchasing an additional 59 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Ralph Lauren by 1,270.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 137 shares of the textile maker's stock valued at $32,000 after purchasing an additional 127 shares during the period. Sentry Investment Management LLC boosted its stake in Ralph Lauren by 178.0% during the 1st quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock valued at $31,000 after acquiring an additional 89 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Ralph Lauren by 281.1% during the 4th quarter. Jones Financial Companies Lllp now owns 202 shares of the textile maker's stock valued at $47,000 after acquiring an additional 149 shares during the last quarter. Finally, Pinpoint Asset Management Ltd boosted its stake in Ralph Lauren by 22,500.0% during the 4th quarter. Pinpoint Asset Management Ltd now owns 226 shares of the textile maker's stock valued at $52,000 after acquiring an additional 225 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 analyst reports. Cowen reaffirmed a "buy" rating on shares of Ralph Lauren in a report on Thursday, May 22nd. Wall Street Zen cut shares of Ralph Lauren from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Citigroup raised their target price on shares of Ralph Lauren from $250.00 to $295.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. The Goldman Sachs Group raised their price objective on shares of Ralph Lauren from $262.00 to $324.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Telsey Advisory Group restated an "outperform" rating and set a $315.00 price objective on shares of Ralph Lauren in a research report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $292.88.

Ralph Lauren Trading Up 2.0%

NYSE:RL traded up $5.64 on Monday, hitting $285.45. 121,196 shares of the stock were exchanged, compared to its average volume of 811,567. The stock has a market capitalization of $17.22 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 2.13 and a beta of 1.49. Ralph Lauren Corporation has a 52 week low of $155.96 and a 52 week high of $289.33. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.33 and a current ratio of 1.78. The company's 50-day moving average price is $265.51 and its 200 day moving average price is $246.85.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The textile maker reported $2.27 EPS for the quarter, beating analysts' consensus estimates of $2.00 by $0.27. Ralph Lauren had a return on equity of 31.76% and a net margin of 10.49%. The company had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same period in the prior year, the business posted $1.71 EPS. Ralph Lauren's revenue was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren declared that its Board of Directors has approved a share buyback plan on Thursday, May 22nd that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the textile maker to reacquire up to 8.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Ralph Lauren Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.9125 per share. The ex-dividend date is Friday, June 27th. This is a positive change from Ralph Lauren's previous quarterly dividend of $0.83. This represents a $3.65 annualized dividend and a dividend yield of 1.28%. Ralph Lauren's payout ratio is currently 31.44%.

About Ralph Lauren

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.