SummitTX Capital L.P. Has $2.75 Million Stock Position in Ralph Lauren Corporation $RL

SummitTX Capital L.P. grew its position in Ralph Lauren Corporation (NYSE:RL) by 35.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,999 shares of the textile maker’s stock after acquiring an additional 2,091 shares during the quarter. SummitTX Capital L.P.’s holdings in Ralph Lauren were worth $2,752,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Ralph Lauren by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,432 shares of the textile maker’s stock worth $758,000 after purchasing an additional 174 shares during the period. Empowered Funds LLC raised its stake in shares of Ralph Lauren by 0.9% in the 1st quarter. Empowered Funds LLC now owns 12,334 shares of the textile maker’s stock valued at $2,723,000 after buying an additional 114 shares in the last quarter. Woodline Partners LP raised its stake in shares of Ralph Lauren by 39.5% in the 1st quarter. Woodline Partners LP now owns 3,369 shares of the textile maker’s stock valued at $744,000 after buying an additional 954 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of Ralph Lauren by 29.5% during the 1st quarter. Focus Partners Wealth now owns 3,812 shares of the textile maker’s stock worth $841,000 after acquiring an additional 869 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Ralph Lauren during the 2nd quarter valued at about $386,000. Institutional investors and hedge funds own 67.91% of the company’s stock.

Ralph Lauren Trading Down 0.5%

RL stock opened at $377.99 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 2.13 and a debt-to-equity ratio of 0.51. Ralph Lauren Corporation has a twelve month low of $273.04 and a twelve month high of $421.60. The company has a market cap of $22.50 billion, a P/E ratio of 25.02, a PEG ratio of 1.89 and a beta of 1.34. The business has a fifty day moving average of $386.17 and a 200-day moving average of $367.35.

Ralph Lauren (NYSE:RL) last issued its earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the firm earned $2.27 EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities research analysts expect that Ralph Lauren Corporation will post 18.33 EPS for the current year.

Ralph Lauren Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, June 26th. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.91. Ralph Lauren’s dividend payout ratio is presently 26.47%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $437.00 price target on shares of Ralph Lauren in a research report on Friday, May 22nd. Weiss Ratings cut Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 15th. Zacks Research downgraded Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. UBS Group raised their target price on Ralph Lauren from $480.00 to $511.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $450.00 price target on shares of Ralph Lauren in a research note on Friday, May 22nd. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $430.79.

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.