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

Truist Financial Corp grew its holdings in Ralph Lauren Corporation (NYSE:RL - Free Report) by 7.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 300,837 shares of the textile maker's stock after acquiring an additional 21,681 shares during the period. Truist Financial Corp owned 0.49% of Ralph Lauren worth $66,407,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RL. MassMutual Private Wealth & Trust FSB increased 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 worth $27,000 after purchasing an additional 59 shares in the last quarter. Sentry Investment Management LLC increased its stake in shares of Ralph Lauren by 178.0% in the first quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock worth $31,000 after purchasing an additional 89 shares in the last quarter. EverSource Wealth Advisors LLC increased 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 worth $32,000 after purchasing an additional 127 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Ralph Lauren by 281.1% in the fourth quarter. Jones Financial Companies Lllp now owns 202 shares of the textile maker's stock worth $47,000 after purchasing an additional 149 shares in the last quarter. Finally, Pinpoint Asset Management Ltd increased its stake in shares of Ralph Lauren by 22,500.0% in the fourth quarter. Pinpoint Asset Management Ltd now owns 226 shares of the textile maker's stock worth $52,000 after purchasing an additional 225 shares in the last quarter. 67.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RL shares. Cfra Research cut shares of Ralph Lauren from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, May 20th. The Goldman Sachs Group raised their target price on shares of Ralph Lauren from $262.00 to $324.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Cowen reaffirmed a "buy" rating on shares of Ralph Lauren in a research note on Thursday, May 22nd. UBS Group set a $384.00 target price on shares of Ralph Lauren and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, Wall Street Zen cut shares of Ralph Lauren from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Ralph Lauren currently has a consensus rating of "Moderate Buy" and an average price target of $292.88.

Ralph Lauren Trading Up 1.8%

Shares of Ralph Lauren stock traded up $5.00 during trading on Friday, hitting $279.52. The stock had a trading volume of 352,160 shares, compared to its average volume of 814,029. Ralph Lauren Corporation has a 12 month low of $155.96 and a 12 month high of $289.33. The firm's fifty day simple moving average is $265.51 and its 200-day simple moving average is $246.68. The stock has a market cap of $16.86 billion, a PE ratio of 24.08, a PEG ratio of 2.13 and a beta of 1.49. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.78 and a quick ratio of 1.33.

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

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

Ralph Lauren Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.9125 per share. This is a positive change from Ralph Lauren's previous quarterly dividend of $0.83. The ex-dividend date is Friday, June 27th. This represents a $3.65 dividend on an annualized basis and a yield of 1.31%. Ralph Lauren's dividend payout ratio (DPR) is presently 31.44%.

Ralph Lauren 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.