Great Lakes Retirement Inc. Makes New Investment in Ralph Lauren Corporation $RL

Great Lakes Retirement Inc. bought a new stake in shares of Ralph Lauren Corporation (NYSE:RL) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 6,454 shares of the textile maker’s stock, valued at approximately $2,298,000.

Several other large investors have also recently bought and sold shares of RL. SYM FINANCIAL Corp grew its position in Ralph Lauren by 7.9% during the third quarter. SYM FINANCIAL Corp now owns 1,350 shares of the textile maker’s stock worth $479,000 after buying an additional 99 shares in the last quarter. Viewpoint Investment Partners Corp increased its stake in Ralph Lauren by 100.0% during the third quarter. Viewpoint Investment Partners Corp now owns 1,000 shares of the textile maker’s stock valued at $355,000 after acquiring an additional 500 shares during the period. Capstone Capital Management Ltd bought a new position in Ralph Lauren during the third quarter valued at about $230,000. Frank Rimerman Advisors LLC increased its stake in Ralph Lauren by 5.5% during the third quarter. Frank Rimerman Advisors LLC now owns 743 shares of the textile maker’s stock valued at $264,000 after acquiring an additional 39 shares during the period. Finally, McKinley Carter Wealth Services Inc. raised its holdings in Ralph Lauren by 1.7% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 22,539 shares of the textile maker’s stock valued at $8,003,000 after acquiring an additional 387 shares in the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Ralph Lauren Stock Performance

Shares of RL opened at $391.03 on Wednesday. The company has a 50-day moving average price of $359.94 and a two-hundred day moving average price of $366.61. Ralph Lauren Corporation has a 12 month low of $306.55 and a 12 month high of $421.60.

Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Thursday, August 6th. The textile maker reported $4.59 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.27. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the company posted $3.77 earnings per share. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Analysts expect that Ralph Lauren Corporation will post 18.79 EPS for the current fiscal year.

Ralph Lauren Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Friday, September 25th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, September 25th.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Needham & Company LLC upped their target price on Ralph Lauren from $405.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Raymond James Financial reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Ralph Lauren in a research report on Friday, August 7th. BTIG Research lifted their price target on shares of Ralph Lauren from $450.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Evercore reissued an “outperform” rating and issued a $460.00 price target on shares of Ralph Lauren in a report on Friday, August 7th. Finally, Weiss Ratings lowered shares of Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, August 26th. Fifteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $449.00.

Ralph Lauren Profile

Ralph Lauren Corporation (NYSE: RL) is a global luxury lifestyle company founded by Ralph Lauren in 1967. The company designs, markets and distributes apparel, accessories, home furnishings, fragrances and related products under a portfolio of brands that includes Ralph Lauren, Polo Ralph Lauren, Lauren Ralph Lauren, Ralph Lauren Purple Label and Double RL.

Ralph Lauren serves men, women and children through a combination of directly operated stores, digital commerce, wholesale distribution and licensing arrangements.