Bank of Nova Scotia Boosts Position in Ralph Lauren Corporation $RL

Bank of Nova Scotia increased its holdings in Ralph Lauren Corporation (NYSE:RL) by 565.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,044 shares of the textile maker’s stock after acquiring an additional 61,211 shares during the quarter. Bank of Nova Scotia owned about 0.12% of Ralph Lauren worth $22,590,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC purchased a new position in Ralph Lauren during the 2nd quarter valued at $28,000. Rothschild Investment LLC lifted its position in shares of Ralph Lauren by 61.3% in the 3rd quarter. Rothschild Investment LLC now owns 100 shares of the textile maker’s stock worth $31,000 after purchasing an additional 38 shares during the period. MUFG Securities EMEA plc bought a new stake in shares of Ralph Lauren during the 2nd quarter valued at about $32,000. MAI Capital Management increased its position in shares of Ralph Lauren by 248.4% during the third quarter. MAI Capital Management now owns 108 shares of the textile maker’s stock valued at $34,000 after buying an additional 77 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of Ralph Lauren by 57.1% during the second quarter. Geneos Wealth Management Inc. now owns 143 shares of the textile maker’s stock valued at $39,000 after buying an additional 52 shares during the period. Institutional investors own 67.91% of the company’s stock.

Insider Transactions at Ralph Lauren

In other Ralph Lauren news, CEO Patrice Louvet sold 47,000 shares of Ralph Lauren stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $354.22, for a total transaction of $16,648,340.00. Following the completion of the transaction, the chief executive officer owned 85,552 shares in the company, valued at approximately $30,304,229.44. The trade was a 35.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 38.34% of the company’s stock.

Ralph Lauren Trading Up 2.5%

NYSE:RL opened at $338.95 on Tuesday. The firm has a market capitalization of $20.52 billion, a P/E ratio of 23.07, a PEG ratio of 1.29 and a beta of 1.47. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.10 and a quick ratio of 1.52. Ralph Lauren Corporation has a one year low of $176.61 and a one year high of $389.15. The company’s 50-day simple moving average is $359.32 and its 200 day simple moving average is $343.21.

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

Ralph Lauren Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be given a dividend of $0.9125 per share. This represents a $3.65 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, March 27th. Ralph Lauren’s dividend payout ratio (DPR) is 24.85%.

Wall Street Analyst Weigh In

Several brokerages have commented on RL. Evercore set a $420.00 price objective on shares of Ralph Lauren and gave the stock an “outperform” rating in a report on Friday, February 6th. Telsey Advisory Group reiterated an “outperform” rating and set a $435.00 target price on shares of Ralph Lauren in a report on Thursday, February 5th. Argus increased their target price on Ralph Lauren from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Zacks Research upgraded Ralph Lauren from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Finally, Jefferies Financial Group dropped their price target on Ralph Lauren from $425.00 to $410.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $389.06.

Ralph Lauren Company Profile

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.