Envestnet Asset Management Inc. Increases Position in Ralph Lauren Co. (NYSE:RL)

Envestnet Asset Management Inc. raised its position in shares of Ralph Lauren Co. (NYSE:RL) by 12.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 219,747 shares of the textile maker’s stock after purchasing an additional 23,537 shares during the period. Envestnet Asset Management Inc.’s holdings in Ralph Lauren were worth $50,757,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Ralph Lauren by 8.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,079,578 shares of the textile maker’s stock worth $249,361,000 after acquiring an additional 82,819 shares during the last quarter. Boston Partners raised its position in Ralph Lauren by 7.1% in the 4th quarter. Boston Partners now owns 982,927 shares of the textile maker’s stock worth $227,085,000 after purchasing an additional 65,303 shares during the period. Geode Capital Management LLC lifted its stake in Ralph Lauren by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 968,776 shares of the textile maker’s stock worth $223,513,000 after purchasing an additional 19,264 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in Ralph Lauren during the third quarter valued at about $94,831,000. Finally, Truist Financial Corp grew its stake in shares of Ralph Lauren by 5.6% during the fourth quarter. Truist Financial Corp now owns 279,156 shares of the textile maker’s stock valued at $64,480,000 after buying an additional 14,693 shares during the last quarter. Institutional investors own 67.91% of the company’s stock.

Ralph Lauren Stock Down 6.9 %

RL stock opened at $193.91 on Friday. Ralph Lauren Co. has a fifty-two week low of $155.96 and a fifty-two week high of $289.33. The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 1.73 and a beta of 1.38. The business’s 50 day moving average price is $240.58 and its two-hundred day moving average price is $227.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.31 and a current ratio of 1.76.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings results on Thursday, February 6th. The textile maker reported $4.82 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.36. Ralph Lauren had a return on equity of 30.88% and a net margin of 10.14%. As a group, analysts forecast that Ralph Lauren Co. will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.825 per share. The ex-dividend date is Friday, March 28th. This represents a $3.30 dividend on an annualized basis and a yield of 1.70%. Ralph Lauren’s dividend payout ratio (DPR) is currently 30.11%.

Analyst Ratings Changes

RL has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Ralph Lauren from $285.00 to $342.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Guggenheim boosted their price objective on Ralph Lauren from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, February 7th. TD Cowen raised their target price on shares of Ralph Lauren from $258.00 to $268.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company raised shares of Ralph Lauren from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $275.00 to $240.00 in a research note on Tuesday. Finally, Cowen reissued a “buy” rating on shares of Ralph Lauren in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $277.43.

Ralph Lauren Company 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.