Sumitomo Mitsui Trust Group Inc. Buys 1,430 Shares of Ralph Lauren Corporation $RL

Sumitomo Mitsui Trust Group Inc. boosted its position in Ralph Lauren Corporation (NYSE:RL) by 57.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,900 shares of the textile maker’s stock after purchasing an additional 1,430 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Ralph Lauren were worth $1,070,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RL. West Michigan Advisors LLC bought a new stake in shares of Ralph Lauren in the 2nd quarter valued at about $274,000. Asset Management One Co. Ltd. lifted its position in Ralph Lauren by 30.3% during the second quarter. Asset Management One Co. Ltd. now owns 1,587 shares of the textile maker’s stock valued at $435,000 after acquiring an additional 369 shares during the last quarter. R Squared Ltd acquired a new stake in Ralph Lauren in the second quarter valued at approximately $513,000. Freedom Investment Management Inc. grew its holdings in Ralph Lauren by 6.8% in the second quarter. Freedom Investment Management Inc. now owns 4,704 shares of the textile maker’s stock worth $1,290,000 after purchasing an additional 299 shares during the last quarter. Finally, Dupont Capital Management Corp grew its holdings in Ralph Lauren by 35.1% in the second quarter. Dupont Capital Management Corp now owns 29,159 shares of the textile maker’s stock worth $7,998,000 after purchasing an additional 7,568 shares during the last quarter. 67.91% of the stock is owned by hedge funds and other institutional investors.

Ralph Lauren Trading Down 0.9%

Shares of Ralph Lauren stock opened at $319.91 on Friday. The stock has a market cap of $19.38 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 1.63 and a beta of 1.61. The firm has a fifty day moving average price of $316.06 and a 200 day moving average price of $286.02. Ralph Lauren Corporation has a 1 year low of $176.61 and a 1 year high of $341.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.30.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.27. The company had revenue of $1.72 billion for 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% compared to the same quarter last year. During the same period last year, the firm earned $2.70 EPS. Equities research analysts predict that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were given a dividend of $0.9125 per share. This represents a $3.65 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, September 26th. Ralph Lauren’s dividend payout ratio (DPR) is currently 29.15%.

Wall Street Analyst Weigh In

RL has been the subject of several analyst reports. UBS Group increased their price objective on Ralph Lauren from $404.00 to $421.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Wells Fargo & Company upped their target price on Ralph Lauren from $320.00 to $345.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. Jefferies Financial Group raised their price target on Ralph Lauren from $365.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Cowen restated a “buy” rating on shares of Ralph Lauren in a research note on Tuesday, September 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Ralph Lauren in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $336.12.

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.