XTX Topco Ltd Takes $929,000 Position in Ralph Lauren Corporation (NYSE:RL)

Key Points

• XTX Topco Ltd invested approximately $929,000 in Ralph Lauren Corporation, acquiring 4,210 shares in the first quarter as part of a trend where several institutional investors are increasing their stakes in the company.
• Ralph Lauren has initiated a $1.50 billion stock repurchase plan, allowing it to buy back up to 8.8% of its shares, signifying confidence in its undervalued stock.
• The company recently increased its quarterly dividend to $0.9125 per share, representing an annualized dividend yield of 1.2% and a payout ratio of 31.44%.

XTX Topco Ltd acquired a new position in Ralph Lauren Corporation (NYSE:RL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,210 shares of the textile maker's stock, valued at approximately $929,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RL. MassMutual Private Wealth & Trust FSB grew 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 buying 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 valued at $31,000 after buying an additional 89 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Ralph Lauren in the first quarter valued at approximately $39,000. Parallel Advisors LLC boosted its holdings in shares of Ralph Lauren by 74.4% during the 1st quarter. Parallel Advisors LLC now owns 272 shares of the textile maker's stock worth $60,000 after buying an additional 116 shares in the last quarter. Finally, MRP Capital Investments LLC boosted its holdings in shares of Ralph Lauren by 175.0% during the 1st quarter. MRP Capital Investments LLC now owns 275 shares of the textile maker's stock worth $61,000 after buying an additional 175 shares in the last quarter. Institutional investors own 67.91% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on RL. Bank of America raised their target price on Ralph Lauren from $318.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. BMO Capital Markets raised their price objective on Ralph Lauren from $197.00 to $205.00 and gave the company an "underperform" rating in a report on Friday, May 23rd. Needham & Company LLC lifted their price objective on Ralph Lauren from $310.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday. Barclays lifted their price target on Ralph Lauren from $260.00 to $321.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Finally, Evercore ISI boosted their price target on Ralph Lauren from $320.00 to $335.00 and gave the stock an "outperform" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Ralph Lauren currently has an average rating of "Moderate Buy" and a consensus target price of $303.00.

Ralph Lauren Stock Down 1.5%

Shares of RL stock traded down $4.62 during trading hours on Tuesday, hitting $299.83. 766,628 shares of the company were exchanged, compared to its average volume of 585,275. The company has a market capitalization of $18.09 billion, a PE ratio of 25.83, a PEG ratio of 2.24 and a beta of 1.53. Ralph Lauren Corporation has a 52 week low of $156.69 and a 52 week high of $306.34. The business has a 50 day moving average of $281.43 and a two-hundred day moving average of $255.25. The company has a current ratio of 1.78, a quick ratio of 1.33 and a debt-to-equity ratio of 0.38.

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 net margin of 10.49% and a return on equity of 31.76%. The firm had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter last year, the company posted $1.71 earnings per share. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts anticipate that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a dividend of $0.9125 per share. This is a boost from Ralph Lauren's previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Friday, June 27th. This represents a $3.65 annualized dividend and a dividend yield of 1.2%. Ralph Lauren's payout ratio is presently 31.44%.

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

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.