Burney Co. Buys 10,271 Shares of Ralph Lauren Corporation $RL

Burney Co. grew its stake in Ralph Lauren Corporation (NYSE:RL) by 206.0% during the second quarter, Holdings Channel.com reports. The fund owned 15,257 shares of the textile maker’s stock after purchasing an additional 10,271 shares during the quarter. Burney Co.’s holdings in Ralph Lauren were worth $4,185,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in Ralph Lauren by 22.3% in the 1st quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker’s stock worth $333,958,000 after acquiring an additional 275,391 shares in the last quarter. AQR Capital Management LLC grew its stake in Ralph Lauren by 55.7% in the 1st quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker’s stock worth $245,468,000 after acquiring an additional 414,275 shares in the last quarter. Jennison Associates LLC grew its stake in Ralph Lauren by 16.5% in the 1st quarter. Jennison Associates LLC now owns 565,687 shares of the textile maker’s stock worth $124,870,000 after acquiring an additional 79,934 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Ralph Lauren by 118.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 388,138 shares of the textile maker’s stock worth $106,458,000 after acquiring an additional 210,343 shares in the last quarter. Finally, Truist Financial Corp grew its stake in Ralph Lauren by 7.0% in the 2nd quarter. Truist Financial Corp now owns 322,020 shares of the textile maker’s stock worth $88,324,000 after acquiring an additional 21,183 shares in the last quarter. 67.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RL has been the topic of a number of research analyst reports. Jefferies Financial Group upped their target price on shares of Ralph Lauren from $365.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Needham & Company LLC increased their price objective on shares of Ralph Lauren from $335.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Telsey Advisory Group reiterated an “outperform” rating and set a $350.00 price objective on shares of Ralph Lauren in a research note on Thursday, October 30th. Zacks Research upgraded shares of Ralph Lauren to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, TD Cowen increased their price objective on shares of Ralph Lauren from $354.00 to $399.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $338.47.

Ralph Lauren Price Performance

Shares of RL opened at $314.63 on Tuesday. The company has a market cap of $19.06 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 1.63 and a beta of 1.61. Ralph Lauren Corporation has a twelve month low of $176.61 and a twelve month high of $341.90. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $316.60 and a two-hundred day moving average of $287.95.

Ralph Lauren (NYSE:RL) last announced its earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.27. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.65 billion. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. Ralph Lauren’s revenue was up 13.7% compared to the same quarter last year. During the same period last year, the firm earned $2.70 earnings per share. As a group, analysts predict that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were paid a $0.9125 dividend. This represents a $3.65 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, September 26th. Ralph Lauren’s dividend payout ratio (DPR) is 29.15%.

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.