Y Intercept Hong Kong Ltd Acquires 2,008 Shares of Ralph Lauren Corporation $RL

Y Intercept Hong Kong Ltd lifted its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 9.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,174 shares of the textile maker’s stock after buying an additional 2,008 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Ralph Lauren were worth $8,316,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Blueline Advisors LLC acquired a new position in Ralph Lauren during the fourth quarter valued at approximately $27,000. JPL Wealth Management LLC bought a new position in Ralph Lauren in the third quarter valued at approximately $27,000. CYBER HORNET ETFs LLC acquired a new position in shares of Ralph Lauren during the 2nd quarter worth approximately $28,000. Aventura Private Wealth LLC acquired a new position in shares of Ralph Lauren during the 4th quarter worth approximately $29,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Ralph Lauren during the 2nd quarter worth approximately $32,000. Institutional investors own 67.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Ralph Lauren in a report on Thursday, May 21st. Wells Fargo & Company upped their price target on shares of Ralph Lauren from $400.00 to $415.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Weiss Ratings cut shares of Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 15th. Zacks Research downgraded shares of Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Finally, Bank of America boosted their price objective on shares of Ralph Lauren from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $430.07.

Ralph Lauren Stock Down 0.0%

RL stock opened at $398.18 on Friday. 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 firm has a market capitalization of $23.70 billion, a PE ratio of 26.35, a PEG ratio of 1.98 and a beta of 1.34. Ralph Lauren Corporation has a 1-year low of $273.04 and a 1-year high of $421.60. The business’s 50 day simple moving average is $375.55 and its 200 day simple moving average is $364.98.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the firm posted $2.27 EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, research analysts anticipate that Ralph Lauren Corporation will post 18.33 EPS for the current year.

Ralph Lauren Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, June 26th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.91. Ralph Lauren’s dividend payout ratio is 26.47%.

Ralph Lauren Company 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.