Procyon Advisors LLC Acquires 2,174 Shares of Ralph Lauren Corporation $RL

Procyon Advisors LLC increased its stake in shares of Ralph Lauren Corporation (NYSE:RL) by 44.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,107 shares of the textile maker’s stock after buying an additional 2,174 shares during the period. Procyon Advisors LLC’s holdings in Ralph Lauren were worth $2,228,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ralph Lauren by 5.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,432 shares of the textile maker’s stock valued at $758,000 after acquiring an additional 174 shares during the period. Empowered Funds LLC grew its position in shares of Ralph Lauren by 0.9% during the 1st quarter. Empowered Funds LLC now owns 12,334 shares of the textile maker’s stock valued at $2,723,000 after purchasing an additional 114 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Ralph Lauren by 39.5% in the first quarter. Woodline Partners LP now owns 3,369 shares of the textile maker’s stock worth $744,000 after purchasing an additional 954 shares during the period. Focus Partners Wealth grew its holdings in shares of Ralph Lauren by 29.5% during the first quarter. Focus Partners Wealth now owns 3,812 shares of the textile maker’s stock worth $841,000 after purchasing an additional 869 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Ralph Lauren during the first quarter worth about $1,447,000. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Ralph Lauren Price Performance

Shares of RL opened at $368.95 on Friday. Ralph Lauren Corporation has a 12-month low of $176.61 and a 12-month high of $380.00. The company has a quick ratio of 1.35, a current ratio of 2.04 and a debt-to-equity ratio of 0.57. The stock has a market cap of $22.37 billion, a P/E ratio of 27.27, a P/E/G ratio of 1.64 and a beta of 1.49. The business’s fifty day moving average is $356.08 and its 200 day moving average is $322.68.

Ralph Lauren (NYSE:RL) last issued its earnings results on Thursday, November 6th. The textile maker reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.45 by $0.34. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.88 billion. Ralph Lauren had a return on equity of 36.18% and a net margin of 11.28%.Ralph Lauren’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.54 earnings per share. Sell-side analysts anticipate that Ralph Lauren Corporation will post 12.01 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, January 9th. Shareholders of record on Friday, December 26th were paid a $0.9125 dividend. The ex-dividend date was Friday, December 26th. This represents a $3.65 annualized dividend and a yield of 1.0%. Ralph Lauren’s payout ratio is presently 26.98%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Cowen restated a “buy” rating on shares of Ralph Lauren in a research report on Tuesday, September 30th. BTIG Research initiated coverage on shares of Ralph Lauren in a research report on Tuesday, October 14th. They set a “buy” rating and a $400.00 price target for the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $435.00 price target on shares of Ralph Lauren in a report on Wednesday, December 17th. UBS Group lifted their price objective on shares of Ralph Lauren from $435.00 to $473.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Finally, Wells Fargo & Company upped their price target on shares of Ralph Lauren from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $375.29.

Ralph Lauren 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.