Victory Capital Management Inc. boosted its position in Ralph Lauren Co. (NYSE:RL – Get Rating) by 224.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 549,031 shares of the textile maker’s stock after purchasing an additional 379,563 shares during the period. Victory Capital Management Inc. owned approximately 0.83% of Ralph Lauren worth $58,016,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Ralph Lauren by 18.3% during the 3rd quarter. BlackRock Inc. now owns 5,918,601 shares of the textile maker’s stock valued at $502,667,000 after acquiring an additional 916,317 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Ralph Lauren by 71.8% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,532,719 shares of the textile maker’s stock valued at $161,962,000 after acquiring an additional 640,694 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Ralph Lauren by 14.0% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 3,320,091 shares of the textile maker’s stock valued at $281,976,000 after acquiring an additional 406,758 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Ralph Lauren during the 1st quarter valued at $40,466,000. Finally, Alliancebernstein L.P. lifted its position in shares of Ralph Lauren by 25.6% during the 3rd quarter. Alliancebernstein L.P. now owns 1,054,149 shares of the textile maker’s stock valued at $89,529,000 after acquiring an additional 214,662 shares during the last quarter. 66.09% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. OTR Global upgraded Ralph Lauren to a “positive” rating in a report on Friday, April 28th. StockNews.com assumed coverage on Ralph Lauren in a report on Thursday, May 18th. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft increased their target price on Ralph Lauren from $119.00 to $122.00 in a report on Friday, May 26th. Barclays increased their target price on Ralph Lauren from $134.00 to $139.00 in a report on Friday, May 26th. Finally, UBS Group increased their target price on Ralph Lauren from $154.00 to $168.00 in a report on Friday, May 26th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.08.
Ralph Lauren Trading Up 1.4 %
Ralph Lauren (NYSE:RL – Get Rating) last posted its earnings results on Thursday, May 25th. The textile maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.65 by $0.25. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.47 billion. Ralph Lauren had a net margin of 8.11% and a return on equity of 24.19%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. On average, analysts forecast that Ralph Lauren Co. will post 9.42 earnings per share for the current fiscal year.
Ralph Lauren Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.44%. Ralph Lauren’s payout ratio is 39.53%.
Ralph Lauren Company Profile
Ralph Lauren Corp. engages in the design, marketing, and distribution of luxury lifestyle products, including apparel, footwear and accessories, home, fragrances, and hospitality categories. The firm offers products under the brands of Ralph Lauren, Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL, Lauren Ralph Lauren, Polo Ralph Lauren Children, and Chaps.
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