Hennion & Walsh Asset Management Inc. Purchases 2,351 Shares of Ralph Lauren Corporation $RL

Hennion & Walsh Asset Management Inc. boosted its position in shares of Ralph Lauren Corporation (NYSE:RL) by 58.7% in the second quarter, Holdings Channel reports. The firm owned 6,354 shares of the textile maker’s stock after purchasing an additional 2,351 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Ralph Lauren were worth $2,551,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Invesco Ltd. grew its holdings in shares of Ralph Lauren by 26.2% in the 4th quarter. Invesco Ltd. now owns 1,324,018 shares of the textile maker’s stock valued at $468,186,000 after buying an additional 275,263 shares during the period. Geode Capital Management LLC grew its stake in Ralph Lauren by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 1,050,543 shares of the textile maker’s stock valued at $370,852,000 after acquiring an additional 54,686 shares during the period. Orion Porfolio Solutions LLC grew its stake in Ralph Lauren by 8,937.8% in the second quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock valued at $264,225,000 after acquiring an additional 952,681 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of Ralph Lauren by 11.7% in the third quarter. Qube Research & Technologies Ltd now owns 941,832 shares of the textile maker’s stock worth $295,321,000 after acquiring an additional 98,511 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Ralph Lauren by 40.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 895,017 shares of the textile maker’s stock worth $316,487,000 after acquiring an additional 255,511 shares in the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Ralph Lauren Trading Up 2.9%

NYSE:RL opened at $407.10 on Tuesday. The company has a market cap of $24.23 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35. Ralph Lauren Corporation has a twelve month low of $283.50 and a twelve month high of $421.60. The business has a 50 day moving average price of $389.36 and a two-hundred day moving average price of $368.76. The company has a quick ratio of 1.42, a current ratio of 2.04 and a debt-to-equity ratio of 0.53.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings data on Thursday, August 6th. The textile maker reported $4.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.27. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.87 billion. Ralph Lauren had a net margin of 11.76% and a return on equity of 39.10%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $3.77 earnings per share. As a group, analysts expect that Ralph Lauren Corporation will post 18.54 EPS for the current fiscal year.

Ralph Lauren Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.0%. 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 (DPR) is presently 25.20%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Ralph Lauren from $434.00 to $452.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Needham & Company LLC increased their target price on Ralph Lauren from $405.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings downgraded shares of Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 15th. Wells Fargo & Company lifted their price target on shares of Ralph Lauren from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Finally, Raymond James Financial reissued an “outperform” rating and set a $425.00 price objective on shares of Ralph Lauren in a research report on Friday. Sixteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $445.67.

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.