SummitTX Capital L.P. Purchases 2,091 Shares of Ralph Lauren Corporation $RL

SummitTX Capital L.P. increased its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 35.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 7,999 shares of the textile maker’s stock after acquiring an additional 2,091 shares during the quarter. SummitTX Capital L.P.’s holdings in Ralph Lauren were worth $2,752,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RL. M&T Bank Corp boosted its position in shares of Ralph Lauren by 6,216.7% during the fourth quarter. M&T Bank Corp now owns 73,337 shares of the textile maker’s stock worth $25,933,000 after buying an additional 72,176 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Ralph Lauren by 28.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 41,688 shares of the textile maker’s stock valued at $14,741,000 after buying an additional 9,133 shares during the last quarter. Vest Financial LLC raised its position in Ralph Lauren by 177.9% in the 4th quarter. Vest Financial LLC now owns 54,701 shares of the textile maker’s stock valued at $19,343,000 after buying an additional 35,016 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in Ralph Lauren by 106.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 63,180 shares of the textile maker’s stock valued at $22,552,000 after acquiring an additional 32,622 shares in the last quarter. Finally, Truist Financial Corp boosted its position in Ralph Lauren by 8.1% during the 4th quarter. Truist Financial Corp now owns 371,086 shares of the textile maker’s stock worth $131,220,000 after acquiring an additional 27,848 shares during the last quarter. 67.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on RL. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Ralph Lauren in a research report on Thursday, May 21st. Wells Fargo & Company raised their target price on shares of Ralph Lauren from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. BTIG Research reiterated a “buy” rating and issued a $450.00 price target on shares of Ralph Lauren in a research note on Friday, May 22nd. Barclays increased their price objective 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. Finally, Weiss Ratings downgraded Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 15th. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $430.79.

Ralph Lauren Stock Performance

Shares of RL opened at $377.99 on Wednesday. The company has a market cap of $22.50 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 1.89 and a beta of 1.34. The firm has a 50-day moving average of $386.17 and a 200-day moving average of $367.35. Ralph Lauren Corporation has a one year low of $273.04 and a one year high of $421.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.13 and a quick ratio of 1.57.

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

Ralph Lauren Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were paid a $1.00 dividend. 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 dividend on an annualized basis and a yield of 1.1%. Ralph Lauren’s dividend payout ratio (DPR) is currently 26.47%.

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.