Alcosta Capital Management Inc. Buys New Shares in Ralph Lauren Corporation $RL

Alcosta Capital Management Inc. purchased a new stake in shares of Ralph Lauren Corporation (NYSE:RL) during the fourth quarter, HoldingsChannel reports. The fund purchased 8,930 shares of the textile maker’s stock, valued at approximately $3,158,000. Ralph Lauren comprises 2.0% of Alcosta Capital Management Inc.’s holdings, making the stock its 23rd largest holding.

Several other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Ralph Lauren by 5.5% in the fourth 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. boosted its holdings in shares of Ralph Lauren by 9.8% in the third quarter. Invesco Ltd. now owns 1,048,755 shares of the textile maker’s stock valued at $328,848,000 after purchasing an additional 93,753 shares during the period. Orion Porfolio Solutions LLC boosted its holdings in shares of Ralph Lauren by 8,937.8% in the second quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock valued at $264,225,000 after purchasing an additional 952,681 shares during the period. Qube Research & Technologies Ltd boosted its holdings in shares of Ralph Lauren by 11.7% in the third quarter. Qube Research & Technologies Ltd now owns 941,832 shares of the textile maker’s stock valued at $295,321,000 after purchasing an additional 98,511 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Ralph Lauren by 40.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 895,017 shares of the textile maker’s stock valued at $316,487,000 after purchasing an additional 255,511 shares during the period. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Ralph Lauren Price Performance

Shares of RL opened at $403.53 on Friday. The business’s 50-day moving average is $365.11 and its two-hundred day moving average is $360.37. The company has a market capitalization of $24.02 billion, a P/E ratio of 26.71, a P/E/G ratio of 1.95 and a beta of 1.35. 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 fifty-two week low of $258.13 and a fifty-two week high of $405.49.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share 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 company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm earned $2.27 EPS. The firm’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 firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a dividend of $1.00 per share. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 26th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. Ralph Lauren’s payout ratio is 24.16%.

Analyst Upgrades and Downgrades

RL has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $437.00 target price on shares of Ralph Lauren in a report on Friday, May 22nd. Zacks Research lowered Ralph Lauren from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Barclays increased their price objective on Ralph Lauren from $430.00 to $439.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Citigroup upgraded Ralph Lauren from a “neutral” rating to a “buy” rating and increased their price objective for the company from $360.00 to $400.00 in a report on Tuesday, March 24th. Finally, UBS Group upped their target price on Ralph Lauren from $480.00 to $511.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $428.29.

Ralph Lauren 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.