Voya Investment Management LLC Has $11.31 Million Holdings in Ralph Lauren Corporation $RL

Voya Investment Management LLC boosted its holdings in Ralph Lauren Corporation (NYSE:RL) by 15.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,225 shares of the textile maker’s stock after buying an additional 6,677 shares during the quarter. Voya Investment Management LLC owned approximately 0.08% of Ralph Lauren worth $11,307,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RL. MassMutual Private Wealth & Trust FSB boosted its stake in Ralph Lauren by 93.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. Sentry Investment Management LLC raised its position in Ralph Lauren by 178.0% in the first quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker’s stock valued at $31,000 after purchasing an additional 89 shares during the last quarter. Banque Transatlantique SA bought a new position in Ralph Lauren in the first quarter valued at about $33,000. Brooklyn Investment Group raised its position in Ralph Lauren by 180.3% in the first quarter. Brooklyn Investment Group now owns 171 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 110 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Ralph Lauren in the first quarter valued at about $39,000. 67.91% of the stock is owned by institutional investors and hedge funds.

Ralph Lauren Trading Down 0.2%

Shares of RL stock opened at $315.08 on Wednesday. The company has a market cap of $19.08 billion, a P/E ratio of 25.17, a PEG ratio of 1.60 and a beta of 1.60. The stock has a 50 day simple moving average of $297.39 and a two-hundred day simple moving average of $262.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.84. Ralph Lauren Corporation has a fifty-two week low of $176.61 and a fifty-two week high of $321.77.

Ralph Lauren (NYSE:RL) last issued its earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.27. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.65 billion. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.70 earnings per share. Research analysts forecast that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren announced that its Board of Directors has approved a share buyback plan on Thursday, May 22nd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the textile maker to buy up to 8.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Ralph Lauren Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be paid a $0.9125 dividend. This represents a $3.65 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 26th. Ralph Lauren’s dividend payout ratio (DPR) is 29.15%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Telsey Advisory Group increased their target price on Ralph Lauren from $315.00 to $335.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Bank of America increased their target price on Ralph Lauren from $318.00 to $328.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Barclays reiterated an “overweight” rating and issued a $360.00 target price (up from $321.00) on shares of Ralph Lauren in a research report on Friday, August 8th. Needham & Company LLC increased their target price on Ralph Lauren from $335.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Finally, Zacks Research upgraded Ralph Lauren to a “strong-buy” rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Ralph Lauren currently has an average rating of “Moderate Buy” and an average price target of $308.76.

About Ralph Lauren

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.