OP Asset Management Ltd Takes $707,000 Position in Ralph Lauren Corporation $RL

OP Asset Management Ltd bought a new position in Ralph Lauren Corporation (NYSE:RL) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,056 shares of the textile maker’s stock, valued at approximately $707,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Blueline Advisors LLC purchased a new stake in Ralph Lauren in the 4th quarter worth about $27,000. JPL Wealth Management LLC purchased a new position in Ralph Lauren during the 3rd quarter valued at about $27,000. CYBER HORNET ETFs LLC purchased a new position in Ralph Lauren during the 2nd quarter valued at about $28,000. Aventura Private Wealth LLC acquired a new position in shares of Ralph Lauren in the 4th quarter valued at about $29,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Ralph Lauren in the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Ralph Lauren Trading Up 1.0%

Shares of NYSE RL opened at $401.52 on Wednesday. The business has a 50 day simple moving average of $374.71 and a 200 day simple moving average of $364.33. Ralph Lauren Corporation has a 52 week low of $266.20 and a 52 week high of $421.60. The stock has a market cap of $23.90 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 1.97 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 (NYSE:RL) last issued its quarterly earnings data on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.28. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.85 billion. Ralph Lauren had a net margin of 11.60% and a return on equity of 38.17%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.27 earnings per share. On average, research analysts predict that Ralph Lauren Corporation will post 18.33 earnings per share for the current fiscal year.

Ralph Lauren Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a dividend of $1.00 per share. 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%. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.91. Ralph Lauren’s payout ratio is 26.47%.

Analysts Set New Price Targets

RL has been the subject of several research reports. BTIG Research restated a “buy” rating and set a $450.00 price target on shares of Ralph Lauren in a report on Friday, May 22nd. Citigroup upgraded shares of Ralph Lauren from a “neutral” rating to a “buy” rating and upped their price objective for the company from $360.00 to $400.00 in a research note on Tuesday, March 24th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 target price on shares of Ralph Lauren in a research report on Thursday, May 21st. Wells Fargo & Company lifted their target price on shares of Ralph Lauren from $400.00 to $415.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Finally, Zacks Research cut shares of Ralph Lauren from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $430.07.

About Ralph Lauren

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.