Meeder Asset Management Inc. Grows Stake in Ralph Lauren Corporation $RL

Meeder Asset Management Inc. raised its position in shares of Ralph Lauren Corporation (NYSE:RL) by 73.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,025 shares of the textile maker’s stock after purchasing an additional 14,788 shares during the period. Meeder Asset Management Inc. owned 0.06% of Ralph Lauren worth $12,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of RL. Blueline Advisors LLC bought a new position in Ralph Lauren in the 4th quarter worth approximately $27,000. Aventura Private Wealth LLC bought a new stake in Ralph Lauren during the 4th quarter valued at $29,000. JPL Wealth Management LLC purchased a new stake in shares of Ralph Lauren during the third quarter worth $27,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Ralph Lauren during the fourth quarter worth $35,000. Finally, Elevated Capital Advisors LLC bought a new position in shares of Ralph Lauren in the fourth quarter worth $35,000. 67.91% of the stock is owned by hedge funds and other institutional investors.

Ralph Lauren Price Performance

RL stock opened at $380.64 on Monday. 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. The firm’s fifty day moving average is $379.56 and its 200 day moving average is $366.38. The firm has a market cap of $22.66 billion, a P/E ratio of 25.19, a P/E/G ratio of 1.89 and a beta of 1.34.

Ralph Lauren (NYSE:RL) last posted its quarterly 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 return on equity of 38.17% and a net margin of 11.60%.The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the company earned $2.27 EPS. Ralph Lauren’s revenue for the quarter was up 16.6% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, June 26th. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. Ralph Lauren’s payout ratio is currently 26.47%.

Analyst Ratings Changes

A number of research firms have weighed in on RL. Citigroup raised Ralph Lauren from a “neutral” rating to a “buy” rating and lifted their target price for the company from $360.00 to $400.00 in a report 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. Bank of America raised their price objective on shares of Ralph Lauren from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of Ralph Lauren in a research note on Thursday, May 21st. Finally, Telsey Advisory Group upped their target price on shares of Ralph Lauren from $435.00 to $460.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $430.07.

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.