OFI Invest Asset Management Takes $6.87 Million Position in Ralph Lauren Co. (NYSE:RL)

OFI Invest Asset Management bought a new position in shares of Ralph Lauren Co. (NYSE:RL) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 30,806 shares of the textile maker’s stock, valued at approximately $6,872,000.

A number of other hedge funds have also made changes to their positions in RL. Asset Management One Co. Ltd. boosted its stake in Ralph Lauren by 48.0% in the third quarter. Asset Management One Co. Ltd. now owns 943 shares of the textile maker’s stock worth $183,000 after purchasing an additional 306 shares in the last quarter. Principal Financial Group Inc. lifted its position in Ralph Lauren by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 64,999 shares of the textile maker’s stock worth $12,601,000 after buying an additional 694 shares in the last quarter. Summit Global Investments grew its holdings in Ralph Lauren by 346.0% during the 3rd quarter. Summit Global Investments now owns 6,396 shares of the textile maker’s stock worth $1,240,000 after acquiring an additional 4,962 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Ralph Lauren in the 3rd quarter valued at about $122,000. Finally, CWA Asset Management Group LLC acquired a new stake in Ralph Lauren in the 3rd quarter valued at about $1,751,000. Institutional investors and hedge funds own 67.91% of the company’s stock.

Ralph Lauren Price Performance

Shares of RL stock opened at $232.51 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.76 and a debt-to-equity ratio of 0.39. Ralph Lauren Co. has a 12-month low of $155.96 and a 12-month high of $289.33. The firm has a fifty day moving average of $255.08 and a 200-day moving average of $220.74. The firm has a market capitalization of $14.36 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 1.73 and a beta of 1.50.

Ralph Lauren (NYSE:RL) last posted its earnings results on Thursday, February 6th. The textile maker reported $4.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.36. Ralph Lauren had a return on equity of 30.88% and a net margin of 10.14%. On average, equities research analysts forecast that Ralph Lauren Co. will post 12.01 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were issued a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $3.30 annualized dividend and a yield of 1.42%. Ralph Lauren’s dividend payout ratio (DPR) is currently 30.11%.

Analyst Ratings Changes

RL has been the topic of several research analyst reports. StockNews.com raised shares of Ralph Lauren from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. lifted their target price on Ralph Lauren from $285.00 to $342.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. TD Cowen raised their price target on Ralph Lauren from $258.00 to $268.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company boosted their price objective on Ralph Lauren from $225.00 to $275.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Finally, Needham & Company LLC assumed coverage on shares of Ralph Lauren in a research note on Wednesday, February 12th. They issued a “buy” rating and a $310.00 target price on the stock. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ralph Lauren currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.15.

About Ralph Lauren

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.