West Michigan Advisors LLC Takes Position in Ralph Lauren Corporation $RL

West Michigan Advisors LLC acquired a new stake in Ralph Lauren Corporation (NYSE:RL) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 997 shares of the textile maker’s stock, valued at approximately $274,000.

Other large investors have also recently added to or reduced their stakes in the company. OMNI 360 Wealth Inc. bought a new stake in Ralph Lauren in the first quarter worth approximately $248,000. Crossmark Global Holdings Inc. boosted its holdings in shares of Ralph Lauren by 13.5% during the 1st quarter. Crossmark Global Holdings Inc. now owns 22,590 shares of the textile maker’s stock worth $4,987,000 after buying an additional 2,684 shares during the period. Truist Financial Corp boosted its holdings in shares of Ralph Lauren by 7.8% during the 1st quarter. Truist Financial Corp now owns 300,837 shares of the textile maker’s stock worth $66,407,000 after buying an additional 21,681 shares during the period. BNP Paribas Financial Markets raised its stake in Ralph Lauren by 31.5% during the 1st quarter. BNP Paribas Financial Markets now owns 171,141 shares of the textile maker’s stock valued at $37,778,000 after purchasing an additional 40,977 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Ralph Lauren by 8.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 237,479 shares of the textile maker’s stock valued at $52,421,000 after buying an additional 17,732 shares in the last quarter. Institutional investors and hedge funds own 67.91% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RL shares. Cowen reiterated a “buy” rating on shares of Ralph Lauren in a research report on Tuesday, September 30th. TD Cowen increased their target price on shares of Ralph Lauren from $354.00 to $399.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Jefferies Financial Group increased their target price on shares of Ralph Lauren from $365.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday. Cfra Research upgraded shares of Ralph Lauren from a “moderate sell” rating to a “hold” rating in a research report on Monday, August 11th. Finally, Wells Fargo & Company increased their target price on shares of Ralph Lauren from $320.00 to $345.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $336.12.

Ralph Lauren Stock Down 0.3%

Ralph Lauren stock opened at $335.19 on Friday. The company’s 50 day simple moving average is $311.91 and its 200 day simple moving average is $280.96. Ralph Lauren Corporation has a fifty-two week low of $176.61 and a fifty-two week high of $341.90. The firm has a market capitalization of $20.30 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.67 and a beta of 1.61. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.30.

Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.27. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm earned $2.70 EPS. Ralph Lauren’s quarterly revenue was up 13.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were issued a dividend of $0.9125 per share. This represents a $3.65 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, September 26th. Ralph Lauren’s dividend payout ratio (DPR) is 29.15%.

Ralph Lauren Company Profile

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.