Envestnet Asset Management Inc. Increases Stock Holdings in Ralph Lauren Co. (NYSE:RL)

Envestnet Asset Management Inc. lifted its stake in shares of Ralph Lauren Co. (NYSE:RLGet Rating) by 27.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,066 shares of the textile maker’s stock after buying an additional 2,412 shares during the period. Envestnet Asset Management Inc.’s holdings in Ralph Lauren were worth $992,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RL. Victory Capital Management Inc. boosted its position in Ralph Lauren by 1.1% in the first quarter. Victory Capital Management Inc. now owns 151,799 shares of the textile maker’s stock worth $17,203,000 after purchasing an additional 1,668 shares during the last quarter. Clearstead Advisors LLC purchased a new position in Ralph Lauren in the first quarter worth $299,000. Advisor Group Holdings Inc. boosted its position in Ralph Lauren by 40.5% in the first quarter. Advisor Group Holdings Inc. now owns 3,225 shares of the textile maker’s stock worth $366,000 after purchasing an additional 930 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Ralph Lauren by 79.4% in the first quarter. Russell Investments Group Ltd. now owns 987,527 shares of the textile maker’s stock worth $114,220,000 after purchasing an additional 437,147 shares during the last quarter. Finally, Smith Group Asset Management LLC purchased a new position in Ralph Lauren in the first quarter worth $22,318,000. Hedge funds and other institutional investors own 63.02% of the company’s stock.

Ralph Lauren Price Performance

Shares of NYSE RL opened at $107.10 on Friday. The firm has a market capitalization of $7.07 billion, a P/E ratio of 14.92, a P/E/G ratio of 3.19 and a beta of 1.33. The company has a quick ratio of 1.27, a current ratio of 2.01 and a debt-to-equity ratio of 0.65. The stock’s 50-day simple moving average is $93.86 and its two-hundred day simple moving average is $95.00. Ralph Lauren Co. has a twelve month low of $82.23 and a twelve month high of $135.99.

Ralph Lauren (NYSE:RLGet Rating) last announced its earnings results on Thursday, November 10th. The textile maker reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.15. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. Ralph Lauren had a return on equity of 21.97% and a net margin of 8.05%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.62 EPS. As a group, equities analysts anticipate that Ralph Lauren Co. will post 7.74 EPS for the current fiscal year.

Ralph Lauren Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Thursday, September 29th. Ralph Lauren’s payout ratio is currently 41.78%.

Wall Street Analysts Forecast Growth

RL has been the topic of several research reports. Citigroup lowered their target price on Ralph Lauren from $96.00 to $92.00 in a research note on Friday, November 4th. Deutsche Bank Aktiengesellschaft lowered their target price on Ralph Lauren from $101.00 to $99.00 and set a “hold” rating on the stock in a research note on Monday, August 1st. Credit Suisse Group lowered their target price on Ralph Lauren from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, August 5th. Barclays lowered their target price on Ralph Lauren to $101.00 in a research note on Wednesday, November 16th. Finally, StockNews.com started coverage on Ralph Lauren in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ralph Lauren currently has a consensus rating of “Hold” and a consensus price target of $115.85.

Ralph Lauren Profile

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Ralph Lauren Corp. engages in the design, marketing, and distribution of premium lifestyle products. The firm offers apparel, accessories, home furnishings, and other licensed products. It operates through the following segments: North America, Europe, and Asia. The North America segment consists of sales of Ralph Lauren branded apparel, accessories, home furnishings, and related products made through the Company’s wholesale and retail businesses in the U.S.

Further Reading

Institutional Ownership by Quarter for Ralph Lauren (NYSE:RL)

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