Jennison Associates LLC Has $146.59 Million Holdings in Ralph Lauren Corporation $RL

Jennison Associates LLC lessened its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 534,443 shares of the textile maker’s stock after selling 31,244 shares during the quarter. Jennison Associates LLC owned approximately 0.89% of Ralph Lauren worth $146,587,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Banque Transatlantique SA acquired a new position in Ralph Lauren during the first quarter worth approximately $33,000. Brooklyn Investment Group increased its position in Ralph Lauren by 180.3% during the first quarter. Brooklyn Investment Group now owns 171 shares of the textile maker’s stock worth $38,000 after buying an additional 110 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Ralph Lauren during the first quarter worth approximately $39,000. Gordian Capital Singapore Pte Ltd acquired a new position in Ralph Lauren during the first quarter worth approximately $43,000. Finally, Private Trust Co. NA lifted its stake in shares of Ralph Lauren by 189.8% during the 2nd quarter. Private Trust Co. NA now owns 171 shares of the textile maker’s stock worth $47,000 after buying an additional 112 shares during the last quarter. Institutional investors and hedge funds own 67.91% of the company’s stock.

Ralph Lauren Trading Down 1.8%

Shares of RL stock opened at $331.35 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. The stock has a market cap of $20.07 billion, a P/E ratio of 26.47, a price-to-earnings-growth ratio of 1.68 and a beta of 1.61. The stock has a 50 day simple moving average of $313.80 and a 200 day simple moving average of $284.03. Ralph Lauren Corporation has a 1 year low of $176.61 and a 1 year high of $341.90.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.27. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.70 earnings per share. On average, research analysts predict that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were paid a $0.9125 dividend. This represents a $3.65 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, September 26th. Ralph Lauren’s payout ratio is 29.15%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Ralph Lauren from $320.00 to $345.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. Telsey Advisory Group boosted their price objective on Ralph Lauren from $335.00 to $350.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. TD Cowen boosted their price objective on Ralph Lauren from $354.00 to $399.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Cowen restated a “buy” rating on shares of Ralph Lauren in a report on Tuesday, September 30th. Finally, Jefferies Financial Group boosted their price objective on Ralph Lauren from $365.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $336.12.

Ralph Lauren Company Profile

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men’s, women’s, and children’s clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.