Eleva Capital SAS Buys New Position in Ralph Lauren Corporation $RL

Eleva Capital SAS purchased a new position in Ralph Lauren Corporation (NYSE:RL) during the third quarter, Holdings Channel reports. The fund purchased 2,889 shares of the textile maker’s stock, valued at approximately $1,026,000. Ralph Lauren makes up about 0.9% of Eleva Capital SAS’s investment portfolio, making the stock its 25th biggest position.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in shares of Ralph Lauren by 55.5% in the 2nd quarter. Wellington Management Group LLP now owns 476,472 shares of the textile maker’s stock valued at $191,261,000 after purchasing an additional 170,091 shares during the period. Bank of New York Mellon Corp grew its stake in Ralph Lauren by 65.7% in the first quarter. Bank of New York Mellon Corp now owns 415,919 shares of the textile maker’s stock worth $143,072,000 after purchasing an additional 164,965 shares during the period. Engineers Gate Manager LP raised its holdings in Ralph Lauren by 1,002.1% in the fourth quarter. Engineers Gate Manager LP now owns 157,122 shares of the textile maker’s stock worth $55,560,000 after purchasing an additional 142,865 shares in the last quarter. First Trust Advisors LP lifted its position in Ralph Lauren by 20.0% during the first quarter. First Trust Advisors LP now owns 703,637 shares of the textile maker’s stock valued at $242,044,000 after buying an additional 117,412 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in shares of Ralph Lauren by 150.1% during the 1st quarter. California Public Employees Retirement System now owns 184,249 shares of the textile maker’s stock valued at $63,380,000 after buying an additional 110,575 shares in the last quarter. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RL. Weiss Ratings lowered shares of Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, August 26th. Needham & Company LLC upped their price objective on shares of Ralph Lauren from $405.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of Ralph Lauren from $434.00 to $452.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Evercore reiterated an “outperform” rating and set a $460.00 price objective on shares of Ralph Lauren in a research note on Friday, August 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Ralph Lauren in a research report on Friday, August 7th. Fifteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $449.00.

Ralph Lauren Stock Performance

Shares of Ralph Lauren stock traded up $0.30 during trading on Tuesday, hitting $365.84. 126,343 shares of the company’s stock traded hands, compared to its average volume of 647,123. Ralph Lauren Corporation has a 1 year low of $306.55 and a 1 year high of $421.60. The business has a 50-day simple moving average of $362.24 and a 200-day simple moving average of $368.35. The stock has a market capitalization of $21.80 billion, a P/E ratio of 23.07, a PEG ratio of 1.36 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.04 and a quick ratio of 1.42.

Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Thursday, August 6th. The textile maker reported $4.59 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.27. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Ralph Lauren had a net margin of 11.76% and a return on equity of 39.10%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.77 earnings per share. As a group, analysts forecast that Ralph Lauren Corporation will post 18.79 EPS for the current year.

Ralph Lauren Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, September 25th. Ralph Lauren’s dividend payout ratio is 25.20%.

Ralph Lauren Profile

Ralph Lauren Corporation (NYSE:RL) is a global lifestyle company that designs, markets, and distributes apparel, accessories, home furnishings, fragrances, and related products. Its portfolio includes the Ralph Lauren, Polo Ralph Lauren, Lauren Ralph Lauren, Purple Label, Double RL, and other brands, which offer products across men’s, women’s, and children’s categories.

The company sells its products through company-operated stores, e-commerce platforms, department stores, specialty retailers, and selected third-party distributors.