Edgestream Partners L.P. Has $11.34 Million Position in Ralph Lauren Corporation $RL

Edgestream Partners L.P. lifted its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 87.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 32,959 shares of the textile maker’s stock after purchasing an additional 15,412 shares during the period. Ralph Lauren comprises 0.4% of Edgestream Partners L.P.’s portfolio, making the stock its 27th largest holding. Edgestream Partners L.P.’s holdings in Ralph Lauren were worth $11,338,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RL. Blueline Advisors LLC bought a new position in shares of Ralph Lauren in the fourth quarter valued at about $27,000. JPL Wealth Management LLC bought a new stake in Ralph Lauren during the 3rd quarter worth about $27,000. CYBER HORNET ETFs LLC bought a new stake in Ralph Lauren during the 2nd quarter worth about $28,000. MUFG Securities EMEA plc acquired a new stake in Ralph Lauren in the 2nd quarter valued at about $32,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in Ralph Lauren in the 4th quarter valued at about $35,000. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Ralph Lauren Stock Down 0.5%

Shares of NYSE RL opened at $375.76 on Thursday. Ralph Lauren Corporation has a 1 year low of $273.04 and a 1 year high of $421.60. The firm’s 50-day moving average is $387.07 and its 200-day moving average is $367.42. The company has a current ratio of 2.13, a quick ratio of 1.57 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $22.37 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 1.87 and a beta of 1.34.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.28. Ralph Lauren had a net margin of 11.60% and a return on equity of 38.17%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the firm posted $2.27 earnings per share. Ralph Lauren’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities analysts expect that Ralph Lauren Corporation will post 18.33 EPS for the current year.

Ralph Lauren Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.91. Ralph Lauren’s dividend payout ratio (DPR) is presently 26.47%.

Analysts Set New Price Targets

A number of brokerages have weighed in on RL. Zacks Research downgraded shares of Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Barclays raised their price target on shares of Ralph Lauren from $430.00 to $439.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Bank of America boosted their price objective on shares of Ralph Lauren from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of Ralph Lauren in a report on Thursday, May 21st. Finally, Wall Street Zen upgraded Ralph Lauren from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Fifteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $430.79.

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.