3,488 Shares in Ralph Lauren Corporation $RL Acquired by Private Advisor Group LLC

Private Advisor Group LLC purchased a new position in Ralph Lauren Corporation (NYSE:RL) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,488 shares of the textile maker’s stock, valued at approximately $1,200,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd boosted its position in shares of Ralph Lauren by 9.1% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 24,174 shares of the textile maker’s stock worth $8,316,000 after acquiring an additional 2,008 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Ralph Lauren during the first quarter worth approximately $226,000. Platform Technology Partners acquired a new position in Ralph Lauren in the first quarter valued at $205,000. Sound Income Strategies LLC purchased a new position in shares of Ralph Lauren during the first quarter worth about $50,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Ralph Lauren during the first quarter worth about $5,256,000. 67.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RL has been the topic of a number of recent research reports. Citigroup raised Ralph Lauren from a “neutral” rating to a “buy” rating and upped their target price for the company from $360.00 to $400.00 in a research note on Tuesday, March 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $437.00 price target on shares of Ralph Lauren in a report on Friday, May 22nd. UBS Group lifted their price objective on Ralph Lauren from $480.00 to $511.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. BTIG Research restated a “buy” rating and issued a $450.00 target price on shares of Ralph Lauren in a report on Friday, May 22nd. Finally, Bank of America raised their price target 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 analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $430.07.

Ralph Lauren Trading Up 0.1%

Shares of NYSE:RL opened at $395.36 on Monday. The stock’s 50-day moving average is $377.88 and its 200-day moving average is $365.78. The company has a market cap of $23.53 billion, a P/E ratio of 26.17, a P/E/G ratio of 1.96 and a beta of 1.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.57 and a current ratio of 2.13. Ralph Lauren Corporation has a 52-week low of $273.04 and a 52-week high of $421.60.

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

Ralph Lauren Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were given a dividend of $1.00 per share. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, June 26th. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. Ralph Lauren’s payout ratio is 26.47%.

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.