Truist Financial Corp Increases Position in Ralph Lauren Corporation $RL

Truist Financial Corp raised its position in shares of Ralph Lauren Corporation (NYSE:RL) by 6.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 343,238 shares of the textile maker’s stock after buying an additional 21,218 shares during the period. Truist Financial Corp owned about 0.57% of Ralph Lauren worth $107,626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of RL. Hantz Financial Services Inc. grew its position in Ralph Lauren by 1,228.6% in the 2nd quarter. Hantz Financial Services Inc. now owns 93 shares of the textile maker’s stock valued at $26,000 after acquiring an additional 86 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new position in shares of Ralph Lauren in the second quarter valued at approximately $28,000. MUFG Securities EMEA plc purchased a new stake in Ralph Lauren during the 2nd quarter worth approximately $32,000. Geneos Wealth Management Inc. lifted its holdings in Ralph Lauren by 57.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 143 shares of the textile maker’s stock worth $39,000 after buying an additional 52 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Ralph Lauren by 94.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 150 shares of the textile maker’s stock valued at $47,000 after buying an additional 73 shares during the period. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Jefferies Financial Group initiated coverage on Ralph Lauren in a research note on Wednesday, January 14th. They issued a “buy” rating and a $425.00 price objective on the stock. BTIG Research initiated coverage on Ralph Lauren in a research report on Tuesday, October 14th. They issued a “buy” rating and a $400.00 price target on the stock. Wells Fargo & Company boosted their price objective on Ralph Lauren from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. UBS Group raised their target price on shares of Ralph Lauren from $473.00 to $474.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Argus boosted their price target on shares of Ralph Lauren from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Fifteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ralph Lauren has an average rating of “Moderate Buy” and a consensus target price of $375.35.

Ralph Lauren Stock Performance

Shares of RL opened at $352.97 on Thursday. The company has a market capitalization of $21.40 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 1.59 and a beta of 1.49. Ralph Lauren Corporation has a 52-week low of $176.61 and a 52-week high of $380.00. The company has a quick ratio of 1.35, a current ratio of 2.04 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average price of $361.58 and a 200 day moving average price of $328.01.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings data on Thursday, November 6th. The textile maker reported $3.79 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.34. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.88 billion. Ralph Lauren had a net margin of 11.28% and a return on equity of 36.18%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.54 EPS. Research analysts predict that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were issued a dividend of $0.9125 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $3.65 annualized dividend and a dividend yield of 1.0%. Ralph Lauren’s dividend payout ratio (DPR) is presently 26.98%.

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.