State of Alaska Department of Revenue Has $1.03 Million Position in Ralph Lauren Corporation (NYSE:RL)

State of Alaska Department of Revenue boosted its stake in shares of Ralph Lauren Corporation (NYSE:RL) by 1.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,671 shares of the textile maker’s stock after buying an additional 85 shares during the quarter. State of Alaska Department of Revenue’s holdings in Ralph Lauren were worth $1,031,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Ralph Lauren by 3.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,120,508 shares of the textile maker’s stock valued at $489,795,000 after purchasing an additional 70,544 shares during the period. FMR LLC raised its stake in shares of Ralph Lauren by 16.9% in the fourth quarter. FMR LLC now owns 1,415,473 shares of the textile maker’s stock worth $326,946,000 after purchasing an additional 205,121 shares during the last quarter. Invesco Ltd. raised its stake in shares of Ralph Lauren by 30.6% in the fourth quarter. Invesco Ltd. now owns 1,237,512 shares of the textile maker’s stock worth $285,841,000 after purchasing an additional 289,924 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Ralph Lauren by 8.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,079,578 shares of the textile maker’s stock worth $249,361,000 after purchasing an additional 82,819 shares during the last quarter. Finally, Boston Partners raised its stake in shares of Ralph Lauren by 7.1% in the fourth quarter. Boston Partners now owns 982,927 shares of the textile maker’s stock worth $227,085,000 after purchasing an additional 65,303 shares during the last quarter. 67.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Ralph Lauren from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. Barclays increased their price objective on Ralph Lauren from $260.00 to $321.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $315.00 target price on shares of Ralph Lauren in a report on Wednesday, June 18th. BMO Capital Markets upped their target price on Ralph Lauren from $197.00 to $205.00 and gave the company an “underperform” rating in a report on Friday, May 23rd. Finally, Wall Street Zen lowered Ralph Lauren from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $292.88.

Ralph Lauren Price Performance

Shares of NYSE RL opened at $273.87 on Friday. Ralph Lauren Corporation has a 1-year low of $155.96 and a 1-year high of $289.33. The stock has a fifty day simple moving average of $257.84 and a two-hundred day simple moving average of $244.51. The company has a current ratio of 1.78, a quick ratio of 1.33 and a debt-to-equity ratio of 0.38. The firm has a market cap of $16.52 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 1.97 and a beta of 1.51.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings results on Thursday, May 22nd. The textile maker reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.27. Ralph Lauren had a return on equity of 31.76% and a net margin of 10.49%. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the company earned $1.71 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts anticipate that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.9125 per share. This represents a $3.65 annualized dividend and a yield of 1.33%. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.83. The ex-dividend date is Friday, June 27th. Ralph Lauren’s payout ratio is presently 28.42%.

Ralph Lauren declared that its board has initiated a stock buyback plan on Thursday, May 22nd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the textile maker to purchase up to 8.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Ralph Lauren Company Profile

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men’s, women’s, and children’s clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.