Hurley Capital LLC Buys New Stake in Ralph Lauren Corporation $RL

Hurley Capital LLC bought a new stake in Ralph Lauren Corporation (NYSE:RL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,819 shares of the textile maker’s stock, valued at approximately $643,000.

Several other institutional investors have also modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Ralph Lauren by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 1,050,543 shares of the textile maker’s stock worth $370,852,000 after purchasing an additional 54,686 shares in the last quarter. Invesco Ltd. grew its stake in shares of Ralph Lauren by 9.8% during the third quarter. Invesco Ltd. now owns 1,048,755 shares of the textile maker’s stock worth $328,848,000 after purchasing an additional 93,753 shares in the last quarter. Orion Porfolio Solutions LLC grew its stake in shares of Ralph Lauren by 8,937.8% during the second quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock worth $264,225,000 after purchasing an additional 952,681 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in shares of Ralph Lauren by 11.7% during the third quarter. Qube Research & Technologies Ltd now owns 941,832 shares of the textile maker’s stock worth $295,321,000 after purchasing an additional 98,511 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Ralph Lauren by 40.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 895,017 shares of the textile maker’s stock worth $316,487,000 after purchasing an additional 255,511 shares in the last quarter. Institutional investors and hedge funds own 67.91% of the company’s stock.

Wall Street Analyst Weigh In

RL has been the subject of a number of analyst reports. Barclays boosted their target price on shares of Ralph Lauren from $430.00 to $439.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. BTIG Research reiterated a “buy” rating and set a $450.00 target price on shares of Ralph Lauren in a research note on Friday, May 22nd. UBS Group upped their price objective on shares of Ralph Lauren from $480.00 to $511.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Needham & Company LLC restated a “buy” rating and issued a $400.00 price objective on shares of Ralph Lauren in a research note on Thursday, May 21st. Finally, Wells Fargo & Company upped their price objective on shares of Ralph Lauren from $400.00 to $415.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Ralph Lauren presently has an average rating of “Moderate Buy” and a consensus target price of $428.29.

Ralph Lauren Stock Performance

NYSE RL opened at $412.32 on Tuesday. Ralph Lauren Corporation has a 1 year low of $259.30 and a 1 year high of $421.60. The company has a market capitalization of $24.54 billion, a PE ratio of 27.29, a P/E/G ratio of 2.00 and a beta of 1.35. The company has a fifty day moving average of $366.40 and a two-hundred day moving average of $360.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.13 and a quick ratio of 1.57.

Ralph Lauren (NYSE:RL) last announced its earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm earned $2.27 earnings per share. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, analysts expect that Ralph Lauren Corporation will post 18.33 earnings per share for the current year.

Ralph Lauren Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.91. The ex-dividend date is Friday, June 26th. Ralph Lauren’s payout ratio is currently 24.16%.

Ralph Lauren Company Profile

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.