Norges Bank Takes Position in Ralph Lauren Corporation $RL

Norges Bank bought a new stake in shares of Ralph Lauren Corporation (NYSE:RL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 207,887 shares of the textile maker’s stock, valued at approximately $73,511,000. Norges Bank owned 0.34% of Ralph Lauren as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in RL. Orion Porfolio Solutions LLC increased its stake in shares of Ralph Lauren by 8,937.8% during the second quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock valued at $264,225,000 after buying an additional 952,681 shares during the period. Jupiter Asset Management Ltd. purchased a new position in shares of Ralph Lauren during the third quarter valued at approximately $74,841,000. Two Sigma Investments LP increased its stake in shares of Ralph Lauren by 137.1% during the third quarter. Two Sigma Investments LP now owns 362,022 shares of the textile maker’s stock valued at $113,516,000 after buying an additional 209,330 shares during the period. Scopus Asset Management L.P. increased its stake in shares of Ralph Lauren by 190.3% during the third quarter. Scopus Asset Management L.P. now owns 221,500 shares of the textile maker’s stock valued at $69,454,000 after buying an additional 145,189 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Ralph Lauren by 390.6% in the 4th quarter. SG Americas Securities LLC now owns 145,964 shares of the textile maker’s stock valued at $51,614,000 after purchasing an additional 116,211 shares during the period. 67.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RL shares. Citigroup upgraded Ralph Lauren from a “neutral” rating to a “buy” rating and raised their target price for the company from $360.00 to $400.00 in a research note on Tuesday, March 24th. Bank of America raised their target price on Ralph Lauren from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Wells Fargo & Company raised their target price on Ralph Lauren from $400.00 to $415.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of Ralph Lauren in a research note on Thursday, May 21st. Finally, UBS Group raised their target price on Ralph Lauren from $480.00 to $511.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $428.29.

Ralph Lauren Trading Down 0.0%

RL opened at $366.58 on Friday. The business has a 50 day moving average of $360.03 and a 200-day moving average of $358.35. The stock has a market cap of $21.82 billion, a PE ratio of 24.26, a PEG ratio of 1.82 and a beta of 1.35. Ralph Lauren Corporation has a 52 week low of $258.13 and a 52 week high of $393.41. The company has a quick ratio of 1.57, a current ratio of 2.13 and a debt-to-equity ratio of 0.51.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings data on Thursday, May 21st. The textile maker reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.28. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Ralph Lauren had a return on equity of 38.17% and a net margin of 11.60%.The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.27 earnings per share. Equities research analysts predict that Ralph Lauren Corporation will post 18.29 earnings per share for the current fiscal year.

Ralph Lauren Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, June 26th. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. Ralph Lauren’s dividend payout ratio (DPR) is presently 24.16%.

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.