Allianz Asset Management GmbH Increases Stock Position in Ralph Lauren Corporation $RL

Allianz Asset Management GmbH grew its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 28.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 496,741 shares of the textile maker’s stock after buying an additional 108,603 shares during the period. Allianz Asset Management GmbH’s holdings in Ralph Lauren were worth $155,758,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Hantz Financial Services Inc. grew its holdings in Ralph Lauren by 1,228.6% during the second quarter. Hantz Financial Services Inc. now owns 93 shares of the textile maker’s stock worth $26,000 after acquiring an additional 86 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in shares of Ralph Lauren during the 2nd quarter worth $28,000. MUFG Securities EMEA plc acquired a new position in shares of Ralph Lauren during the 2nd quarter worth $32,000. Geneos Wealth Management Inc. increased its holdings in shares of Ralph Lauren by 57.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 143 shares of the textile maker’s stock valued at $39,000 after purchasing an additional 52 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of Ralph Lauren by 69.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 151 shares of the textile maker’s stock valued at $41,000 after purchasing an additional 62 shares in the last quarter. 67.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Argus upped their target price on shares of Ralph Lauren from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Jefferies Financial Group assumed coverage on Ralph Lauren in a research note on Wednesday, January 14th. They issued a “buy” rating and a $425.00 price objective for the company. Barclays reiterated an “overweight” rating and set a $409.00 target price on shares of Ralph Lauren in a research report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft set a $422.00 target price on Ralph Lauren in a report on Thursday, January 8th. Finally, Zacks Research downgraded Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Fifteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ralph Lauren currently has an average rating of “Moderate Buy” and an average price target of $377.71.

Ralph Lauren Stock Performance

Ralph Lauren stock opened at $357.00 on Tuesday. Ralph Lauren Corporation has a fifty-two week low of $176.61 and a fifty-two week high of $380.00. The company has a market capitalization of $21.65 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 1.56 and a beta of 1.49. The stock has a fifty day moving average of $362.55 and a two-hundred day moving average of $329.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.35 and a current ratio of 2.04.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings data on Thursday, November 6th. The textile maker reported $3.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.34. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.88 billion. Ralph Lauren had a return on equity of 36.18% and a net margin of 11.28%.The business’s revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.54 earnings per share. On average, analysts anticipate that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were issued a dividend of $0.9125 per share. The ex-dividend date was Friday, December 26th. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.0%. Ralph Lauren’s payout ratio is 26.98%.

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.