Truist Financial Corp Acquires 27,848 Shares of Ralph Lauren Corporation $RL

Truist Financial Corp raised its holdings in Ralph Lauren Corporation (NYSE:RL) by 8.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 371,086 shares of the textile maker’s stock after purchasing an additional 27,848 shares during the period. Truist Financial Corp’s holdings in Ralph Lauren were worth $131,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Invesco Ltd. increased its holdings in Ralph Lauren by 9.8% in the 3rd quarter. Invesco Ltd. now owns 1,048,755 shares of the textile maker’s stock valued at $328,848,000 after buying an additional 93,753 shares during the period. Orion Porfolio Solutions LLC increased its holdings in Ralph Lauren by 8,937.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock valued at $264,225,000 after buying an additional 952,681 shares during the period. Qube Research & Technologies Ltd increased its holdings in Ralph Lauren by 11.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 941,832 shares of the textile maker’s stock valued at $295,321,000 after buying an additional 98,511 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Ralph Lauren by 5.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 756,203 shares of the textile maker’s stock worth $207,417,000 after purchasing an additional 36,328 shares during the last quarter. Finally, Boston Partners grew its holdings in shares of Ralph Lauren by 2.1% in the 3rd quarter. Boston Partners now owns 715,733 shares of the textile maker’s stock worth $224,455,000 after purchasing an additional 14,953 shares during the last quarter. Institutional investors own 67.91% of the company’s stock.

Ralph Lauren Stock Up 0.1%

Shares of NYSE RL opened at $362.41 on Monday. The firm’s 50-day simple moving average is $357.85 and its 200 day simple moving average is $353.79. The company has a market cap of $21.94 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 1.27 and a beta of 1.37. The company has a quick ratio of 1.52, a current ratio of 2.10 and a debt-to-equity ratio of 0.50. Ralph Lauren Corporation has a 12-month low of $228.05 and a 12-month high of $393.41.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings results on Thursday, February 5th. The textile maker reported $6.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.42. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.30 billion. Ralph Lauren had a net margin of 11.73% and a return on equity of 37.97%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.82 EPS. On average, research analysts expect that Ralph Lauren Corporation will post 16.25 earnings per share for the current fiscal year.

Ralph Lauren Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 27th were given a dividend of $0.9125 per share. The ex-dividend date was Friday, March 27th. This represents a $3.65 annualized dividend and a yield of 1.0%. Ralph Lauren’s dividend payout ratio is 24.85%.

Insider Transactions at Ralph Lauren

In related news, CEO Patrice Louvet sold 47,000 shares of the company’s stock in a transaction dated 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 $30,304,229.44. This represents a 35.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 38.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RL shares. Weiss Ratings lowered shares of Ralph Lauren from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday. Barclays upped their target price on shares of Ralph Lauren from $416.00 to $430.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Citigroup raised shares of Ralph Lauren from a “neutral” rating to a “buy” rating and upped their target price for the stock from $360.00 to $400.00 in a report on Tuesday, March 24th. Deutsche Bank Aktiengesellschaft set a $422.00 target price on shares of Ralph Lauren in a report on Thursday, January 8th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $435.00 target price on shares of Ralph Lauren in a report on Thursday, February 5th. Sixteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $399.19.

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.