Sierra Summit Advisors LLC Invests $9.46 Million in Ralph Lauren Co. (NYSE:RL)

Sierra Summit Advisors LLC bought a new stake in Ralph Lauren Co. (NYSE:RL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 40,944 shares of the textile maker’s stock, valued at approximately $9,457,000. Ralph Lauren accounts for 1.9% of Sierra Summit Advisors LLC’s holdings, making the stock its 21st largest position. Sierra Summit Advisors LLC owned approximately 0.07% of Ralph Lauren at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Lord Abbett & CO. LLC acquired a new position in shares of Ralph Lauren during the 3rd quarter valued at $94,831,000. FMR LLC boosted its position in shares of Ralph Lauren by 16.9% during the 4th quarter. FMR LLC now owns 1,415,473 shares of the textile maker’s stock worth $326,946,000 after purchasing an additional 205,121 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Ralph Lauren by 671.0% in the 4th quarter. Schroder Investment Management Group now owns 136,239 shares of the textile maker’s stock valued at $31,637,000 after buying an additional 118,569 shares during the period. World Investment Advisors LLC bought a new stake in Ralph Lauren in the 3rd quarter valued at about $19,320,000. Finally, JPMorgan Chase & Co. raised its stake in Ralph Lauren by 8.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,079,578 shares of the textile maker’s stock worth $249,361,000 after buying an additional 82,819 shares during the period. Institutional investors own 67.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RL. The Goldman Sachs Group upgraded Ralph Lauren from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $280.00 to $286.00 in a report on Tuesday, March 18th. Raymond James lowered shares of Ralph Lauren from an “outperform” rating to a “market perform” rating in a research note on Monday, January 27th. Guggenheim raised their price objective on shares of Ralph Lauren from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 7th. TD Cowen boosted their target price on shares of Ralph Lauren from $258.00 to $268.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, BNP Paribas raised shares of Ralph Lauren to a “strong-buy” rating in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ralph Lauren has a consensus rating of “Moderate Buy” and an average target price of $284.62.

Ralph Lauren Price Performance

Shares of NYSE RL opened at $196.53 on Monday. The company has a quick ratio of 1.31, a current ratio of 1.76 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $12.14 billion, a PE ratio of 17.93, a PEG ratio of 1.73 and a beta of 1.38. The stock’s 50 day moving average price is $247.58 and its 200-day moving average price is $227.75. Ralph Lauren Co. has a twelve month low of $155.96 and a twelve month high of $289.33.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings data on Thursday, February 6th. The textile maker reported $4.82 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.36. Ralph Lauren had a return on equity of 30.88% and a net margin of 10.14%. On average, equities analysts anticipate that Ralph Lauren Co. will post 12.01 EPS for the current year.

Ralph Lauren Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.68%. The ex-dividend date is Friday, March 28th. Ralph Lauren’s dividend payout ratio is 30.11%.

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.