Acumen Wealth Advisors LLC Purchases 1,770 Shares of Ralph Lauren Corporation $RL

Acumen Wealth Advisors LLC raised its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 1,654.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,877 shares of the textile maker’s stock after acquiring an additional 1,770 shares during the quarter. Acumen Wealth Advisors LLC’s holdings in Ralph Lauren were worth $647,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in RL. Blueline Advisors LLC bought a new position in shares of Ralph Lauren during the fourth quarter worth $27,000. JPL Wealth Management LLC purchased a new position in shares of Ralph Lauren during the third quarter valued at about $27,000. CYBER HORNET ETFs LLC bought a new stake in shares of Ralph Lauren in the second quarter worth about $28,000. Aventura Private Wealth LLC purchased a new stake in shares of Ralph Lauren in the fourth quarter worth about $29,000. Finally, MUFG Securities EMEA plc purchased a new position in shares of Ralph Lauren in the second quarter valued at $32,000. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Ralph Lauren Price Performance

Shares of NYSE RL opened at $382.92 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.13 and a quick ratio of 1.57. The stock has a market capitalization of $22.79 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 1.87 and a beta of 1.34. The firm’s 50 day simple moving average is $381.15 and its 200-day simple moving average is $366.71. Ralph Lauren Corporation has a 12 month low of $273.04 and a 12 month high of $421.60.

Ralph Lauren (NYSE:RL) last posted its earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.28. Ralph Lauren had a net margin of 11.60% and a return on equity of 38.17%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the company posted $2.27 EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. Analysts expect that Ralph Lauren Corporation will post 18.33 EPS for the current year.

Ralph Lauren Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were given a dividend of $1.00 per share. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 26th. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. Ralph Lauren’s payout ratio is currently 26.47%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RL shares. Telsey Advisory Group boosted their price target on shares of Ralph Lauren from $435.00 to $460.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Ralph Lauren in a research report on Thursday, May 21st. Barclays upped their target price on shares of Ralph Lauren from $430.00 to $439.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. BTIG Research reaffirmed a “buy” rating and set a $450.00 target price on shares of Ralph Lauren in a research report on Friday, May 22nd. Finally, UBS Group boosted their target price on Ralph Lauren from $480.00 to $511.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Ralph Lauren presently has a consensus rating of “Moderate Buy” and a consensus target price of $430.79.

Ralph Lauren 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.