Aviva PLC Buys New Stake in Ralph Lauren Corporation $RL

Aviva PLC purchased a new stake in Ralph Lauren Corporation (NYSE:RL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,875 shares of the textile maker’s stock, valued at approximately $514,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RL. Cerity Partners LLC lifted its holdings in shares of Ralph Lauren by 52.9% in the 1st quarter. Cerity Partners LLC now owns 21,160 shares of the textile maker’s stock valued at $4,671,000 after buying an additional 7,324 shares during the period. New York State Common Retirement Fund raised its position in Ralph Lauren by 6.4% during the first quarter. New York State Common Retirement Fund now owns 33,360 shares of the textile maker’s stock valued at $7,364,000 after acquiring an additional 2,000 shares in the last quarter. CWM LLC lifted its holdings in Ralph Lauren by 67.6% in the first quarter. CWM LLC now owns 21,471 shares of the textile maker’s stock valued at $4,739,000 after acquiring an additional 8,663 shares during the period. Edgestream Partners L.P. boosted its position in Ralph Lauren by 110.3% in the 1st quarter. Edgestream Partners L.P. now owns 12,219 shares of the textile maker’s stock worth $2,697,000 after purchasing an additional 6,410 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its stake in shares of Ralph Lauren by 12.9% during the 1st quarter. Apollon Wealth Management LLC now owns 2,394 shares of the textile maker’s stock worth $529,000 after purchasing an additional 273 shares during the period. 67.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RL. UBS Group boosted their target price on shares of Ralph Lauren from $421.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Jefferies Financial Group lifted their price objective on shares of Ralph Lauren from $365.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. TD Cowen upped their price objective on shares of Ralph Lauren from $354.00 to $399.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Zacks Research raised shares of Ralph Lauren to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, Cfra Research upgraded Ralph Lauren from a “moderate sell” rating to a “hold” rating in a research note on Monday, August 11th. Two 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $347.13.

Ralph Lauren Trading Down 2.2%

RL stock opened at $332.82 on Friday. Ralph Lauren Corporation has a 12-month low of $176.61 and a 12-month high of $342.99. The business’s 50-day moving average is $320.28 and its 200 day moving average is $293.23. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. The stock has a market cap of $20.16 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 1.63 and a beta of 1.61.

Ralph Lauren (NYSE:RL) last released its earnings results on Thursday, November 6th. The textile maker reported $3.79 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.34. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.88 billion. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.54 earnings per share. On average, sell-side analysts anticipate that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were paid a dividend of $0.9125 per share. This represents a $3.65 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 26th. Ralph Lauren’s payout ratio is 26.98%.

Ralph Lauren 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.