CIBC Asset Management Inc Buys 3,601 Shares of Ralph Lauren Corporation $RL

CIBC Asset Management Inc increased its stake in Ralph Lauren Corporation (NYSE:RL) by 71.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,641 shares of the textile maker’s stock after purchasing an additional 3,601 shares during the period. CIBC Asset Management Inc’s holdings in Ralph Lauren were worth $3,056,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in Ralph Lauren by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 1,050,543 shares of the textile maker’s stock worth $370,852,000 after purchasing an additional 54,686 shares during the last quarter. Invesco Ltd. raised its position in Ralph Lauren by 9.8% in the 3rd quarter. Invesco Ltd. now owns 1,048,755 shares of the textile maker’s stock worth $328,848,000 after purchasing an additional 93,753 shares during the last quarter. Orion Porfolio Solutions LLC raised its position in Ralph Lauren by 8,937.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock worth $264,225,000 after purchasing an additional 952,681 shares during the last quarter. Qube Research & Technologies Ltd raised its position in Ralph Lauren by 11.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 941,832 shares of the textile maker’s stock worth $295,321,000 after purchasing an additional 98,511 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Ralph Lauren by 40.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 895,017 shares of the textile maker’s stock worth $316,487,000 after purchasing an additional 255,511 shares during the last quarter. Institutional investors own 67.91% of the company’s stock.

Ralph Lauren Price Performance

RL opened at $366.58 on Monday. The company has a quick ratio of 1.57, a current ratio of 2.13 and a debt-to-equity ratio of 0.51. Ralph Lauren Corporation has a 12 month low of $258.13 and a 12 month high of $393.41. The company has a fifty day simple moving average of $360.03 and a 200 day simple moving average of $358.59. The stock has a market cap of $21.82 billion, a P/E ratio of 24.26, a P/E/G ratio of 1.82 and a beta of 1.35.

Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Thursday, May 21st. The textile maker reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.28. Ralph Lauren had a net margin of 11.60% and a return on equity of 38.17%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the company earned $2.27 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. On average, research analysts expect that Ralph Lauren Corporation will post 18.29 EPS for the current year.

Ralph Lauren Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a $1.00 dividend. The ex-dividend date is Friday, June 26th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.91. Ralph Lauren’s dividend payout ratio is currently 24.16%.

Analyst Upgrades and Downgrades

Several analysts have commented on RL shares. Citigroup upgraded shares of Ralph Lauren from a “neutral” rating to a “buy” rating and upped their target price for the company from $360.00 to $400.00 in a research report on Tuesday, March 24th. Wells Fargo & Company upped their target price on shares of Ralph Lauren from $400.00 to $415.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. UBS Group upped their target price on shares of Ralph Lauren from $480.00 to $511.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Weiss Ratings cut shares of Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 15th. Finally, Barclays upped their target price on shares of Ralph Lauren from $430.00 to $439.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $428.29.

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.