Crossmark Global Holdings Inc. Purchases 2,684 Shares of Ralph Lauren Corporation (NYSE:RL)

Crossmark Global Holdings Inc. raised its holdings in Ralph Lauren Corporation (NYSE:RL) by 13.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 22,590 shares of the textile maker’s stock after acquiring an additional 2,684 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Ralph Lauren were worth $4,987,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Triglav Skladi D.O.O. purchased a new stake in Ralph Lauren during the fourth quarter valued at $10,872,000. Citizens Financial Group Inc. RI purchased a new position in Ralph Lauren during the 4th quarter worth $3,014,000. Amundi boosted its position in Ralph Lauren by 8.3% during the 4th quarter. Amundi now owns 195,208 shares of the textile maker’s stock valued at $47,444,000 after acquiring an additional 14,889 shares in the last quarter. Keystone Investors PTE Ltd. acquired a new stake in shares of Ralph Lauren in the 4th quarter worth $2,264,000. Finally, Praxis Investment Management Inc. purchased a new position in Ralph Lauren in the 1st quarter worth $230,000. 67.91% of the stock is owned by hedge funds and other institutional investors.

Ralph Lauren Price Performance

Shares of RL opened at $284.88 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.78 and a quick ratio of 1.33. The stock has a market cap of $17.18 billion, a PE ratio of 24.54, a P/E/G ratio of 2.18 and a beta of 1.49. The firm has a 50-day simple moving average of $268.01 and a two-hundred day simple moving average of $247.50. Ralph Lauren Corporation has a 1-year low of $155.96 and a 1-year high of $289.33.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings results on Thursday, May 22nd. The textile maker reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.27. Ralph Lauren had a net margin of 10.49% and a return on equity of 31.76%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the company posted $1.71 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 22nd that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the textile maker to reacquire up to 8.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Ralph Lauren Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, June 27th. This represents a $3.65 annualized dividend and a yield of 1.28%. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.83. Ralph Lauren’s dividend payout ratio is presently 31.44%.

Analyst Ratings Changes

RL has been the topic of several research analyst reports. Wall Street Zen lowered Ralph Lauren from a “buy” rating to a “hold” rating in a report on Tuesday, May 6th. Needham & Company LLC reissued a “buy” rating and issued a $310.00 target price on shares of Ralph Lauren in a report on Friday, May 23rd. Cfra Research cut Ralph Lauren from a “hold” rating to a “moderate sell” rating in a report on Tuesday, May 20th. Cowen reaffirmed a “buy” rating on shares of Ralph Lauren in a research report on Thursday, May 22nd. Finally, UBS Group set a $384.00 price objective on Ralph Lauren and gave the stock a “buy” rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $292.88.

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.