Citigroup Inc. Has $27.79 Million Stock Position in Ralph Lauren Corporation $RL

Citigroup Inc. increased its position in shares of Ralph Lauren Corporation (NYSE:RL) by 160.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,617 shares of the textile maker’s stock after acquiring an additional 54,533 shares during the quarter. Citigroup Inc. owned about 0.15% of Ralph Lauren worth $27,787,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RL. Orion Porfolio Solutions LLC lifted its position in Ralph Lauren by 8,937.8% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock valued at $264,225,000 after purchasing an additional 952,681 shares during the period. Rakuten Investment Management Inc. acquired a new stake in shares of Ralph Lauren during the 3rd quarter worth approximately $86,719,000. Jupiter Asset Management Ltd. bought a new stake in shares of Ralph Lauren during the third quarter worth approximately $74,841,000. Qube Research & Technologies Ltd raised its stake in shares of Ralph Lauren by 26.2% during the second quarter. Qube Research & Technologies Ltd now owns 843,321 shares of the textile maker’s stock worth $231,306,000 after buying an additional 174,847 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Ralph Lauren by 116.6% in the second quarter. Fisher Asset Management LLC now owns 267,742 shares of the textile maker’s stock valued at $73,436,000 after buying an additional 144,155 shares during the period. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Ralph Lauren Stock Up 0.8%

Shares of Ralph Lauren stock opened at $377.02 on Thursday. The company has a market capitalization of $22.82 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 1.46 and a beta of 1.49. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.10 and a quick ratio of 1.52. The business has a 50-day moving average of $362.28 and a two-hundred day moving average of $337.57. Ralph Lauren Corporation has a 1 year low of $176.61 and a 1 year high of $389.15.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings data on Thursday, February 5th. The textile maker reported $6.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.42. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.30 billion. Ralph Lauren had a return on equity of 37.97% and a net margin of 11.73%.Ralph Lauren’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.82 EPS. As a group, equities analysts predict that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given a $0.9125 dividend. This represents a $3.65 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, December 26th. Ralph Lauren’s payout ratio is currently 24.85%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Guggenheim started coverage on shares of Ralph Lauren in a report on Tuesday, December 9th. They set a “neutral” rating for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ralph Lauren in a research note on Thursday, January 22nd. Evercore set a $420.00 price objective on Ralph Lauren and gave the company an “outperform” rating in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $422.00 target price on Ralph Lauren in a research note on Thursday, January 8th. Finally, UBS Group boosted their target price on Ralph Lauren from $474.00 to $477.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $388.19.

Insiders Place Their Bets

In related news, CEO Patrice Louvet sold 47,000 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $354.22, for a total value of $16,648,340.00. Following the completion of the transaction, the chief executive officer directly owned 85,552 shares of the company’s stock, valued at approximately $30,304,229.44. This represents a 35.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 38.34% of the company’s stock.

About Ralph Lauren

Ralph Lauren Corporation (NYSE: RL) is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men’s neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren’s product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.