Cinctive Capital Management LP Invests $10.67 Million in Ralph Lauren Corporation $RL

Cinctive Capital Management LP purchased a new position in Ralph Lauren Corporation (NYSE:RL) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 30,161 shares of the textile maker’s stock, valued at approximately $10,665,000.

Several other large investors have also recently modified their holdings of RL. Orion Porfolio Solutions LLC raised its position in shares of Ralph Lauren by 8,937.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock worth $264,225,000 after purchasing an additional 952,681 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Ralph Lauren by 40.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 895,017 shares of the textile maker’s stock worth $316,487,000 after purchasing an additional 255,511 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Ralph Lauren by 38.6% in the 4th quarter. AQR Capital Management LLC now owns 881,360 shares of the textile maker’s stock worth $311,658,000 after purchasing an additional 245,242 shares during the last quarter. First Trust Advisors LP raised its position in shares of Ralph Lauren by 70.5% in the 4th quarter. First Trust Advisors LP now owns 586,225 shares of the textile maker’s stock worth $207,295,000 after purchasing an additional 242,386 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Ralph Lauren in the 3rd quarter worth about $74,841,000. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RL shares. Barclays lifted their price target on Ralph Lauren from $430.00 to $439.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Citigroup raised Ralph Lauren from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $360.00 to $400.00 in a research report on Tuesday, March 24th. BTIG Research reissued a “buy” rating and issued a $450.00 target price on shares of Ralph Lauren in a research report on Friday, May 22nd. Wells Fargo & Company boosted their target price on Ralph Lauren from $400.00 to $415.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Finally, Weiss Ratings lowered Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 15th. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Ralph Lauren has an average rating of “Moderate Buy” and a consensus target price of $428.29.

Ralph Lauren Trading Down 0.6%

Shares of RL stock opened at $404.16 on Thursday. Ralph Lauren Corporation has a 12-month low of $259.30 and a 12-month high of $421.60. 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’s 50 day moving average is $368.48 and its 200 day moving average is $361.27. The stock has a market capitalization of $24.06 billion, a P/E ratio of 26.75, a P/E/G ratio of 2.02 and a beta of 1.35.

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

Ralph Lauren Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, June 26th. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.91. Ralph Lauren’s payout ratio is currently 24.16%.

Ralph Lauren 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.