Wakefield Asset Management LLLP Makes New Investment in Ralph Lauren Corporation (NYSE:RL)

Wakefield Asset Management LLLP bought a new position in Ralph Lauren Corporation (NYSE:RL - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,216 shares of the textile maker's stock, valued at approximately $268,000.

Other hedge funds have also bought and sold shares of the company. OMNI 360 Wealth Inc. purchased a new position in Ralph Lauren in the 1st quarter worth about $248,000. Crossmark Global Holdings Inc. increased its position in shares of Ralph Lauren by 13.5% during the 1st quarter. Crossmark Global Holdings Inc. now owns 22,590 shares of the textile maker's stock valued at $4,987,000 after purchasing an additional 2,684 shares during the last quarter. Triglav Skladi D.O.O. purchased a new stake in shares of Ralph Lauren during the 4th quarter valued at about $10,872,000. Truist Financial Corp increased its position in shares of 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 during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 67.91% of the company's stock.

Ralph Lauren Trading Up 1.0%

RL stock traded up $3.08 during midday trading on Friday, reaching $298.43. The company's stock had a trading volume of 446,719 shares, compared to its average volume of 575,971. 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 stock has a fifty day simple moving average of $278.53 and a two-hundred day simple moving average of $252.54. Ralph Lauren Corporation has a 1 year low of $155.96 and a 1 year high of $299.02. The firm has a market capitalization of $18.00 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 2.26 and a beta of 1.49.

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

Ralph Lauren Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were issued a $0.9125 dividend. This represents a $3.65 annualized dividend and a yield of 1.22%. The ex-dividend date was Friday, June 27th. This is an increase from Ralph Lauren's previous quarterly dividend of $0.83. Ralph Lauren's dividend payout ratio (DPR) is currently 31.44%.

Ralph Lauren announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 22nd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the textile maker to reacquire up to 8.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RL. Telsey Advisory Group reaffirmed an "outperform" rating and set a $315.00 price target on shares of Ralph Lauren in a research report on Wednesday, June 18th. Wells Fargo & Company upped their price target on shares of Ralph Lauren from $300.00 to $320.00 and gave the company an "overweight" rating in a research report on Wednesday. Cowen reaffirmed a "buy" rating on shares of Ralph Lauren in a research report on Thursday, May 22nd. Barclays increased their target price on shares of Ralph Lauren from $260.00 to $321.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, The Goldman Sachs Group increased their target price on shares of Ralph Lauren from $262.00 to $324.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Ralph Lauren currently has a consensus rating of "Moderate Buy" and a consensus price target of $294.13.

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.