Weiss Asset Management LP Takes $3.66 Million Position in Ralph Lauren Corporation $RL

Key Points

• Weiss Asset Management acquired 10,640 Ralph Lauren shares worth approximately $3.66 million in the first quarter. Institutional investors collectively own 67.91% of the company.
• Analyst sentiment remains positive, with 15 Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $430.79.
• Ralph Lauren exceeded quarterly expectations, reporting $2.80 in EPS and $1.98 billion in revenue, while revenue rose 16.6% year over year. The company also increased its quarterly dividend to $1.00 per share.

Weiss Asset Management LP purchased a new stake in Ralph Lauren Corporation (NYSE:RL - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,640 shares of the textile maker's stock, valued at approximately $3,660,000.

Several other large investors have also modified their holdings of RL. M&T Bank Corp raised its position in shares of Ralph Lauren by 6,216.7% in the 4th quarter. M&T Bank Corp now owns 73,337 shares of the textile maker's stock worth $25,933,000 after acquiring an additional 72,176 shares in the last quarter. Vest Financial LLC lifted its holdings in shares of Ralph Lauren by 177.9% during the 4th quarter. Vest Financial LLC now owns 54,701 shares of the textile maker's stock valued at $19,343,000 after purchasing an additional 35,016 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Ralph Lauren by 28.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 41,688 shares of the textile maker's stock valued at $14,741,000 after purchasing an additional 9,133 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Ralph Lauren by 106.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 63,180 shares of the textile maker's stock worth $22,552,000 after purchasing an additional 32,622 shares in the last quarter. Finally, Truist Financial Corp boosted its position in shares of Ralph Lauren by 8.1% in the 4th quarter. Truist Financial Corp now owns 371,086 shares of the textile maker's stock worth $131,220,000 after purchasing an additional 27,848 shares in the last quarter. Institutional investors own 67.91% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Barclays upped their target price on Ralph Lauren from $430.00 to $439.00 and gave the company an "overweight" rating in a research report on Friday, May 22nd. Zacks Research downgraded Ralph Lauren from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. Wells Fargo & Company boosted their price target on Ralph Lauren from $415.00 to $425.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. Bank of America boosted their price target on Ralph Lauren from $400.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Finally, UBS Group upped their price objective on shares of Ralph Lauren from $480.00 to $511.00 and gave the company a "buy" rating in a report on Friday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $430.79.

Ralph Lauren Stock Down 0.2%

Ralph Lauren stock opened at $372.97 on Monday. The business's 50-day simple moving average is $383.95 and its two-hundred day simple moving average is $367.11. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.57 and a current ratio of 2.13. The company has a market cap of $22.20 billion, a PE ratio of 24.68, a PEG ratio of 1.85 and a beta of 1.34. Ralph Lauren Corporation has a fifty-two week low of $273.04 and a fifty-two week high of $421.60.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The textile maker reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.28. Ralph Lauren had a return on equity of 38.17% and a net margin of 11.60%.The firm had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.85 billion. During the same period last year, the business posted $2.27 earnings per share. The company's revenue for the quarter was up 16.6% compared to the same quarter last year. Equities analysts anticipate that Ralph Lauren Corporation will post 18.33 EPS for the current year.

Ralph Lauren Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. This is a boost from Ralph Lauren's previous quarterly dividend of $0.91. Ralph Lauren's payout ratio is 26.47%.

Ralph Lauren Profile

Ralph Lauren Corporation NYSE: RL is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men's neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren's product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.

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