Acumen Wealth Advisors LLC Raises Holdings in Ralph Lauren Corporation $RL

Acumen Wealth Advisors LLC boosted its stake in Ralph Lauren Corporation (NYSE:RL) by 1,654.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,877 shares of the textile maker’s stock after acquiring an additional 1,770 shares during the period. Acumen Wealth Advisors LLC’s holdings in Ralph Lauren were worth $647,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Blueline Advisors LLC acquired a new position in Ralph Lauren during the fourth quarter worth $27,000. JPL Wealth Management LLC acquired a new position in Ralph Lauren during the 3rd quarter worth 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 Ralph Lauren in the 4th quarter valued at about $29,000. Finally, MUFG Securities EMEA plc acquired a new position in Ralph Lauren in the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 67.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RL shares. Needham & Company LLC reiterated a “buy” rating and set a $400.00 target price on shares of Ralph Lauren in a report on Thursday, May 21st. Weiss Ratings lowered Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 15th. Citigroup raised Ralph Lauren from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $360.00 to $400.00 in a research report on Tuesday, March 24th. Barclays upped their target price on shares of Ralph Lauren from $430.00 to $439.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Finally, Bank of America raised their target price on shares of Ralph Lauren from $400.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ralph Lauren has a consensus rating of “Moderate Buy” and an average target price of $430.79.

Ralph Lauren Stock Up 1.7%

Shares of NYSE:RL opened at $382.92 on Wednesday. The firm has a 50 day simple moving average of $381.15 and a 200-day simple moving average of $366.71. Ralph Lauren Corporation has a twelve month low of $273.04 and a twelve month high of $421.60. The company has a current ratio of 2.13, a quick ratio of 1.57 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $22.79 billion, a PE ratio of 25.34, a P/E/G ratio of 1.87 and a beta of 1.34.

Ralph Lauren (NYSE:RL) last posted its earnings results 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 firm 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 posted $2.27 EPS. The company’s revenue was up 16.6% on a year-over-year basis. On average, equities analysts predict that Ralph Lauren Corporation will post 18.33 EPS for the current fiscal year.

Ralph Lauren Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.0%. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, June 26th. Ralph Lauren’s dividend payout ratio is presently 26.47%.

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.