DNB Asset Management AS Invests $861,000 in Ralph Lauren Corporation $RL

DNB Asset Management AS acquired a new position in Ralph Lauren Corporation (NYSE:RL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,436 shares of the textile maker’s stock, valued at approximately $861,000.

A number of other hedge funds also recently added to or reduced their stakes in RL. Orion Porfolio Solutions LLC lifted its holdings in Ralph Lauren by 8,937.8% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock worth $264,225,000 after buying an additional 952,681 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in Ralph Lauren during the 3rd quarter worth approximately $86,719,000. Jupiter Asset Management Ltd. acquired a new stake in Ralph Lauren during the 3rd quarter worth approximately $74,841,000. Two Sigma Investments LP lifted its holdings in Ralph Lauren by 137.1% during the 3rd quarter. Two Sigma Investments LP now owns 362,022 shares of the textile maker’s stock worth $113,516,000 after buying an additional 209,330 shares in the last quarter. Finally, Scopus Asset Management L.P. lifted its holdings in Ralph Lauren by 190.3% during the 3rd quarter. Scopus Asset Management L.P. now owns 221,500 shares of the textile maker’s stock worth $69,454,000 after buying an additional 145,189 shares in the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Ralph Lauren Trading Up 3.1%

Shares of NYSE:RL opened at $330.71 on Thursday. Ralph Lauren Corporation has a 52 week low of $258.13 and a 52 week high of $393.41. The company’s 50 day moving average is $352.65 and its two-hundred day moving average is $354.72. The company has a current ratio of 2.10, a quick ratio of 1.52 and a debt-to-equity ratio of 0.50. The company has a market cap of $20.02 billion, a PE ratio of 22.51, a P/E/G ratio of 1.12 and a beta of 1.37.

Ralph Lauren Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were given a $0.9125 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.1%. Ralph Lauren’s dividend payout ratio is currently 24.85%.

Analyst Ratings Changes

RL has been the topic of a number of research reports. Weiss Ratings lowered shares of Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 15th. BTIG Research increased their target price on shares of Ralph Lauren from $435.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 target price on shares of Ralph Lauren in a report on Monday. Jefferies Financial Group reduced their target price on shares of Ralph Lauren from $425.00 to $410.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Finally, Barclays increased their target price on shares of Ralph Lauren from $416.00 to $430.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Ralph Lauren currently has an average rating of “Moderate Buy” and a consensus target price of $403.44.

About Ralph Lauren

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.