Atreides Management LP Purchases 2,462 Shares of Ralph Lauren Corporation $RL

Atreides Management LP raised its position in shares of Ralph Lauren Corporation (NYSE:RL) by 2.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 127,562 shares of the textile maker’s stock after purchasing an additional 2,462 shares during the quarter. Atreides Management LP owned 0.21% of Ralph Lauren worth $45,107,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. M&T Bank Corp increased its stake in Ralph Lauren by 6,216.7% during the 4th quarter. M&T Bank Corp now owns 73,337 shares of the textile maker’s stock valued at $25,933,000 after purchasing an additional 72,176 shares in the last quarter. Vest Financial LLC increased its stake in 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 in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in 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 in the last quarter. Asset Management One Co. Ltd. increased its stake in Ralph Lauren by 106.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 63,180 shares of the textile maker’s stock valued at $22,552,000 after purchasing an additional 32,622 shares in the last quarter. Finally, Citigroup Inc. increased its stake in Ralph Lauren by 160.0% during the 3rd quarter. Citigroup Inc. now owns 88,617 shares of the textile maker’s stock valued at $27,787,000 after purchasing an additional 54,533 shares in the last quarter. 67.91% of the stock is currently owned by institutional investors.

Ralph Lauren Stock Performance

RL opened at $404.16 on Thursday. The company has a current ratio of 2.13, a quick ratio of 1.57 and a debt-to-equity ratio of 0.51. The company has a market cap of $24.06 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 2.02 and a beta of 1.35. The company’s 50 day moving average is $368.48 and its 200 day moving average is $361.27. Ralph Lauren Corporation has a 12-month low of $259.30 and a 12-month high of $421.60.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings data on Thursday, May 21st. The textile maker reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.28. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.85 billion. Ralph Lauren had a net margin of 11.60% and a return on equity of 38.17%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.27 earnings per share. On average, equities research analysts predict that Ralph Lauren Corporation will post 18.33 EPS for the current year.

Ralph Lauren Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. Ralph Lauren’s payout ratio is 24.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RL. Zacks Research downgraded shares of Ralph Lauren from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Ralph Lauren in a report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $437.00 price target on shares of Ralph Lauren in a report on Friday, May 22nd. Bank of America raised their price target on shares of Ralph Lauren from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Finally, BTIG Research reaffirmed a “buy” rating and set a $450.00 price target on shares of Ralph Lauren in a report on Friday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $428.29.

About Ralph Lauren

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.