Envestnet Asset Management Inc. Grows Stake in Ralph Lauren Co. (NYSE:RL)

Envestnet Asset Management Inc. grew its holdings in Ralph Lauren Co. (NYSE:RLGet Rating) by 27.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,066 shares of the textile maker’s stock after acquiring an additional 2,412 shares during the period. Envestnet Asset Management Inc.’s holdings in Ralph Lauren were worth $992,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RL. Russell Investments Group Ltd. lifted its holdings in Ralph Lauren by 79.4% in the 1st quarter. Russell Investments Group Ltd. now owns 987,527 shares of the textile maker’s stock worth $114,220,000 after buying an additional 437,147 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in shares of Ralph Lauren in the 1st quarter worth approximately $40,466,000. Ceredex Value Advisors LLC bought a new position in shares of Ralph Lauren in the 2nd quarter worth approximately $29,271,000. HS Management Partners LLC raised its position in shares of Ralph Lauren by 11.7% in the 1st quarter. HS Management Partners LLC now owns 2,252,855 shares of the textile maker’s stock worth $255,564,000 after acquiring an additional 235,546 shares in the last quarter. Finally, Candlestick Capital Management LP bought a new position in shares of Ralph Lauren in the 1st quarter worth approximately $22,688,000. Hedge funds and other institutional investors own 63.02% of the company’s stock.

Ralph Lauren Stock Performance

Shares of RL opened at $107.10 on Friday. The company has a market cap of $7.07 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 3.19 and a beta of 1.33. The company has a current ratio of 2.01, a quick ratio of 1.27 and a debt-to-equity ratio of 0.65. The business’s fifty day simple moving average is $93.86 and its two-hundred day simple moving average is $95.00. Ralph Lauren Co. has a 12 month low of $82.23 and a 12 month high of $135.99.

Ralph Lauren (NYSE:RLGet Rating) last posted its quarterly earnings results on Thursday, November 10th. The textile maker reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.15. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Ralph Lauren had a return on equity of 21.97% and a net margin of 8.05%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $2.62 earnings per share. Research analysts anticipate that Ralph Lauren Co. will post 7.74 earnings per share for the current fiscal year.

Ralph Lauren Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $3.00 dividend on an annualized basis and a yield of 2.80%. Ralph Lauren’s dividend payout ratio is presently 41.78%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RL shares. UBS Group raised their price objective on Ralph Lauren from $128.00 to $130.00 in a research report on Friday, November 11th. Cowen raised their price objective on Ralph Lauren from $128.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, November 11th. JPMorgan Chase & Co. reduced their price objective on Ralph Lauren from $133.00 to $131.00 in a research report on Monday, November 7th. Cowen raised their price objective on Ralph Lauren from $128.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, November 11th. Finally, StockNews.com started coverage on Ralph Lauren in a research report on Wednesday, October 12th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $115.85.

Ralph Lauren Company Profile

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Ralph Lauren Corp. engages in the design, marketing, and distribution of premium lifestyle products. The firm offers apparel, accessories, home furnishings, and other licensed products. It operates through the following segments: North America, Europe, and Asia. The North America segment consists of sales of Ralph Lauren branded apparel, accessories, home furnishings, and related products made through the Company’s wholesale and retail businesses in the U.S.

Further Reading

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Institutional Ownership by Quarter for Ralph Lauren (NYSE:RL)

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