Sierra Summit Advisors LLC Boosts Holdings in Ralph Lauren Corporation $RL

Sierra Summit Advisors LLC boosted its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 348.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,279 shares of the textile maker’s stock after acquiring an additional 2,547 shares during the period. Sierra Summit Advisors LLC’s holdings in Ralph Lauren were worth $1,028,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Hantz Financial Services Inc. raised its position in shares of Ralph Lauren by 1,228.6% during the 2nd quarter. Hantz Financial Services Inc. now owns 93 shares of the textile maker’s stock worth $26,000 after purchasing an additional 86 shares during the last quarter. Rothschild Investment LLC increased its position in Ralph Lauren by 61.3% during the third quarter. Rothschild Investment LLC now owns 100 shares of the textile maker’s stock worth $31,000 after buying an additional 38 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new position in shares of Ralph Lauren in the second quarter worth $28,000. MAI Capital Management lifted its position in shares of Ralph Lauren by 248.4% in the third quarter. MAI Capital Management now owns 108 shares of the textile maker’s stock valued at $34,000 after acquiring an additional 77 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Ralph Lauren in the second quarter valued at $32,000. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Telsey Advisory Group reissued an “outperform” rating and issued a $435.00 target price on shares of Ralph Lauren in a research note on Thursday, February 5th. Wells Fargo & Company boosted their price objective on shares of Ralph Lauren from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Evercore set a $420.00 price objective on shares of Ralph Lauren and gave the company an “outperform” rating in a research note on Friday, February 6th. Guggenheim assumed coverage on shares of Ralph Lauren in a research report on Tuesday, December 9th. They set a “neutral” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft set a $422.00 price target on Ralph Lauren in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $388.19.

Ralph Lauren Price Performance

Ralph Lauren stock opened at $362.09 on Friday. Ralph Lauren Corporation has a 1 year low of $176.61 and a 1 year high of $389.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.52 and a current ratio of 2.10. The firm has a 50 day moving average price of $362.44 and a 200 day moving average price of $338.64. The company has a market cap of $21.92 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 1.41 and a beta of 1.49.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Thursday, February 5th. The textile maker reported $6.22 earnings per share for the quarter, beating analysts’ consensus estimates of $5.80 by $0.42. Ralph Lauren had a net margin of 11.73% and a return on equity of 37.97%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.30 billion. Ralph Lauren’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter last year, the business earned $4.82 EPS. Sell-side analysts predict that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were paid a dividend of $0.9125 per share. The ex-dividend date was Friday, December 26th. This represents a $3.65 annualized dividend and a yield of 1.0%. Ralph Lauren’s dividend payout ratio is currently 24.85%.

Insider Buying and Selling

In other news, CEO Patrice Louvet sold 47,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $354.22, for a total transaction of $16,648,340.00. Following the completion of the sale, the chief executive officer owned 85,552 shares in the company, valued at approximately $30,304,229.44. The trade was a 35.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 38.34% of the stock is owned by corporate insiders.

Ralph Lauren Company 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.