OMNI 360 Wealth Inc. Invests $248,000 in Ralph Lauren Corporation (NYSE:RL)

OMNI 360 Wealth Inc. acquired a new position in Ralph Lauren Corporation (NYSE:RL) during the first quarter, HoldingsChannel.com reports. The fund acquired 1,125 shares of the textile maker’s stock, valued at approximately $248,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its position in shares of Ralph Lauren by 93.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Sentry Investment Management LLC grew its position in shares of Ralph Lauren by 178.0% in the 1st quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker’s stock worth $31,000 after buying an additional 89 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Ralph Lauren by 1,270.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 137 shares of the textile maker’s stock worth $32,000 after purchasing an additional 127 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Ralph Lauren by 281.1% in the 4th quarter. Jones Financial Companies Lllp now owns 202 shares of the textile maker’s stock worth $47,000 after purchasing an additional 149 shares in the last quarter. Finally, Pinpoint Asset Management Ltd boosted its stake in Ralph Lauren by 22,500.0% in the 4th quarter. Pinpoint Asset Management Ltd now owns 226 shares of the textile maker’s stock worth $52,000 after purchasing an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RL. Wells Fargo & Company lifted their target price on shares of Ralph Lauren from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. Bank of America lifted their target price on shares of Ralph Lauren from $318.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Cfra Research cut shares of Ralph Lauren from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, May 20th. Barclays lifted their price objective on shares of Ralph Lauren from $260.00 to $321.00 and gave the company an “overweight” rating in a research note on Friday, May 23rd. Finally, Wall Street Zen cut shares of Ralph Lauren from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $292.88.

Ralph Lauren Price Performance

Shares of NYSE RL opened at $285.58 on Tuesday. The firm has a market cap of $17.23 billion, a PE ratio of 24.50, a PEG ratio of 2.13 and a beta of 1.49. The firm has a fifty day moving average of $266.78 and a 200 day moving average of $247.23. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.33 and a current ratio of 1.78. Ralph Lauren Corporation has a one year low of $155.96 and a one year high of $289.33.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings results on Thursday, May 22nd. The textile maker reported $2.27 EPS for the quarter, topping the consensus estimate of $2.00 by $0.27. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.64 billion. Ralph Lauren had a net margin of 10.49% and a return on equity of 31.76%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.71 EPS. As a group, research analysts predict that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren announced that its board has initiated a share buyback program on Thursday, May 22nd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the textile maker to reacquire up to 8.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Ralph Lauren Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a $0.9125 dividend. This represents a $3.65 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, June 27th. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.83. Ralph Lauren’s payout ratio is presently 31.44%.

About Ralph Lauren

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.