5,350 Shares in Ralph Lauren Corporation $RL Purchased by Dorsey Wright & Associates

Dorsey Wright & Associates bought a new position in Ralph Lauren Corporation (NYSE:RL) in the third quarter, HoldingsChannel reports. The fund bought 5,350 shares of the textile maker’s stock, valued at approximately $1,678,000.

Several other hedge funds and other institutional investors have also bought and sold shares of RL. JPMorgan Chase & Co. lifted its position in Ralph Lauren by 13.2% during the second quarter. JPMorgan Chase & Co. now owns 1,007,745 shares of the textile maker’s stock valued at $276,407,000 after purchasing an additional 117,494 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Ralph Lauren by 18.6% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 32,362 shares of the textile maker’s stock worth $10,147,000 after purchasing an additional 5,075 shares during the period. Envestnet Asset Management Inc. grew its position in Ralph Lauren by 7.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 265,601 shares of the textile maker’s stock worth $83,282,000 after purchasing an additional 18,355 shares during the period. Winnow Wealth LLC purchased a new stake in Ralph Lauren during the 3rd quarter valued at $899,000. Finally, Rakuten Investment Management Inc. bought a new position in shares of Ralph Lauren during the 3rd quarter valued at $86,719,000. Institutional investors own 67.91% of the company’s stock.

Ralph Lauren Trading Up 3.0%

Shares of NYSE:RL opened at $349.29 on Wednesday. The stock has a 50 day moving average of $359.05 and a 200 day moving average of $343.58. The company has a market cap of $21.15 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 1.32 and a beta of 1.47. Ralph Lauren Corporation has a 12-month low of $176.61 and a 12-month high of $389.15. The company has a current ratio of 2.10, a quick ratio of 1.52 and a debt-to-equity ratio of 0.50.

Ralph Lauren (NYSE:RL) last released its earnings results on Thursday, February 5th. The textile maker reported $6.22 EPS for the quarter, topping analysts’ consensus estimates of $5.80 by $0.42. Ralph Lauren had a net margin of 11.73% and a return on equity of 37.97%. The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the business earned $4.82 EPS. The firm’s revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts expect that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be given a dividend of $0.9125 per share. This represents a $3.65 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, March 27th. Ralph Lauren’s dividend payout ratio (DPR) is presently 24.85%.

Analysts Set New Price Targets

RL has been the subject of several research analyst reports. Evercore set a $420.00 price objective on Ralph Lauren and gave the stock an “outperform” rating in a report on Friday, February 6th. UBS Group reissued a “buy” rating on shares of Ralph Lauren in a research report on Tuesday, March 3rd. Wells Fargo & Company boosted their price target on Ralph Lauren from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Zacks Research raised shares of Ralph Lauren from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Barclays increased their price objective on shares of Ralph Lauren from $416.00 to $430.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $389.06.

Insider Buying and Selling at Ralph Lauren

In related news, CEO Patrice Louvet sold 47,000 shares of Ralph Lauren stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $354.22, for a total transaction of $16,648,340.00. Following the transaction, the chief executive officer owned 85,552 shares in the company, valued at approximately $30,304,229.44. The trade was a 35.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 38.34% of the company’s stock.

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.