Bank of New York Mellon Corp Increases Holdings in Ralph Lauren Corporation $RL

Bank of New York Mellon Corp lifted its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 65.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 415,919 shares of the textile maker’s stock after purchasing an additional 164,965 shares during the period. Bank of New York Mellon Corp’s holdings in Ralph Lauren were worth $143,072,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Illinois Municipal Retirement Fund increased its holdings in Ralph Lauren by 9.1% during the first quarter. Illinois Municipal Retirement Fund now owns 36,486 shares of the textile maker’s stock worth $12,551,000 after buying an additional 3,044 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in Ralph Lauren by 13.9% in the first quarter. Checchi Capital Advisers LLC now owns 1,378 shares of the textile maker’s stock valued at $474,000 after acquiring an additional 168 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Ralph Lauren by 33.8% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,203 shares of the textile maker’s stock valued at $1,102,000 after acquiring an additional 809 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Ralph Lauren by 21.0% during the 1st quarter. Chicago Partners Investment Group LLC now owns 4,098 shares of the textile maker’s stock valued at $1,538,000 after acquiring an additional 711 shares during the period. Finally, Arbejdsmarkedets Tillaegspension grew its position in shares of Ralph Lauren by 12.7% during the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 73,760 shares of the textile maker’s stock valued at $25,373,000 after acquiring an additional 8,339 shares during the period. 67.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup raised shares of Ralph Lauren from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $360.00 to $400.00 in a report on Tuesday, March 24th. Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of Ralph Lauren in a report on Thursday, May 21st. UBS Group raised their target price on Ralph Lauren from $480.00 to $511.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Wells Fargo & Company boosted their target price on Ralph Lauren from $400.00 to $415.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Finally, BTIG Research reaffirmed a “buy” rating and set a $450.00 price target on shares of Ralph Lauren in a research report on Friday, May 22nd. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $430.07.

Ralph Lauren Stock Performance

NYSE RL opened at $380.64 on Monday. The firm has a market cap of $22.66 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 1.89 and a beta of 1.34. The company has a quick ratio of 1.57, a current ratio of 2.13 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $379.56 and its 200-day moving average is $366.38. Ralph Lauren Corporation has a 12-month low of $273.04 and a 12-month high of $421.60.

Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Thursday, May 21st. The textile maker reported $2.80 EPS for the quarter, topping the consensus estimate of $2.52 by $0.28. Ralph Lauren had a net margin of 11.60% and a return on equity of 38.17%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm earned $2.27 EPS. Ralph Lauren’s revenue for the quarter was up 16.6% on a year-over-year basis. Sell-side analysts predict that Ralph Lauren Corporation will post 18.33 earnings per share for the current year.

Ralph Lauren Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 26th. Ralph Lauren’s dividend payout ratio (DPR) is presently 26.47%.

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.