Praxis Investment Management Inc. Buys Shares of 1,040 Ralph Lauren Corporation (NYSE:RL)

Praxis Investment Management Inc. bought a new stake in Ralph Lauren Corporation (NYSE:RL) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,040 shares of the textile maker’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RL. Principal Financial Group Inc. lifted its holdings in Ralph Lauren by 54.1% in the 4th quarter. Principal Financial Group Inc. now owns 100,164 shares of the textile maker’s stock valued at $23,136,000 after purchasing an additional 35,165 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Ralph Lauren by 7.1% during the 4th quarter. Sanctuary Advisors LLC now owns 4,557 shares of the textile maker’s stock worth $1,053,000 after acquiring an additional 301 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of Ralph Lauren by 34.3% during the 4th quarter. Global Retirement Partners LLC now owns 971 shares of the textile maker’s stock worth $224,000 after acquiring an additional 248 shares during the period. ING Groep NV purchased a new position in shares of Ralph Lauren during the 4th quarter worth about $1,192,000. Finally, Wealthspire Advisors LLC purchased a new position in shares of Ralph Lauren during the 4th quarter worth about $1,009,000. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Ralph Lauren Stock Up 2.4%

Shares of NYSE:RL opened at $270.54 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.78 and a debt-to-equity ratio of 0.38. Ralph Lauren Corporation has a 52-week low of $155.96 and a 52-week high of $289.33. The company has a 50 day moving average of $253.61 and a two-hundred day moving average of $243.77. The company has a market capitalization of $16.32 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 1.90 and a beta of 1.51.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings data on Thursday, May 22nd. The textile maker reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.27. Ralph Lauren had a net margin of 10.49% and a return on equity of 31.76%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company earned $1.71 earnings per share. Ralph Lauren’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts forecast that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 22nd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the textile maker to reacquire up to 8.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Ralph Lauren Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.9125 dividend. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.83. The ex-dividend date is Friday, June 27th. This represents a $3.65 annualized dividend and a yield of 1.35%. Ralph Lauren’s dividend payout ratio (DPR) is 28.42%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RL shares. The Goldman Sachs Group increased their price objective on shares of Ralph Lauren from $262.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Telsey Advisory Group reiterated an “outperform” rating and set a $315.00 price objective on shares of Ralph Lauren in a report on Wednesday, June 18th. Bank of America increased their price objective on shares of Ralph Lauren from $318.00 to $328.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Wells Fargo & Company increased their price objective on shares of Ralph Lauren from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $310.00 price objective on shares of Ralph Lauren in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.88.

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.