Jennison Associates LLC Has $189.62 Million Stock Holdings in Ralph Lauren Corporation $RL

Jennison Associates LLC boosted its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 13.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 604,728 shares of the textile maker’s stock after buying an additional 70,285 shares during the period. Jennison Associates LLC owned approximately 1.00% of Ralph Lauren worth $189,619,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of RL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Ralph Lauren by 5.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,432 shares of the textile maker’s stock valued at $758,000 after purchasing an additional 174 shares in the last quarter. Empowered Funds LLC increased its holdings 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 acquiring an additional 114 shares during the last quarter. Woodline Partners LP grew its holdings in Ralph Lauren by 39.5% during the first quarter. Woodline Partners LP now owns 3,369 shares of the textile maker’s stock valued at $744,000 after purchasing an additional 954 shares during the last quarter. Focus Partners Wealth grew its stake in Ralph Lauren by 29.5% in the 1st quarter. Focus Partners Wealth now owns 3,812 shares of the textile maker’s stock valued at $841,000 after buying an additional 869 shares during the last quarter. Finally, Sivia Capital Partners LLC bought a new position in Ralph Lauren in the 2nd quarter worth approximately $386,000. 67.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Evercore ISI lifted their target price on shares of Ralph Lauren from $340.00 to $375.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. BTIG Research started coverage on Ralph Lauren in a research note on Tuesday, October 14th. They issued a “buy” rating and a $400.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Ralph Lauren in a research report on Thursday. Guggenheim started coverage on Ralph Lauren in a research note on Tuesday, December 9th. They issued a “neutral” rating on the stock. Finally, Barclays reiterated an “overweight” rating and set a $409.00 price objective on shares of Ralph Lauren in a research note on Tuesday, January 6th. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.29.

Ralph Lauren Stock Up 0.9%

RL stock opened at $367.12 on Friday. The business has a 50-day moving average of $359.84 and a 200-day moving average of $326.30. Ralph Lauren Corporation has a fifty-two week low of $176.61 and a fifty-two week high of $380.00. The stock has a market capitalization of $22.26 billion, a P/E ratio of 27.13, a P/E/G ratio of 1.62 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.04 and a quick ratio of 1.35.

Ralph Lauren (NYSE:RL) last posted its earnings results on Thursday, November 6th. The textile maker reported $3.79 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $0.34. The business had revenue of $2.01 billion for 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%.The firm’s revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.54 EPS. On average, sell-side analysts anticipate that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Announces Dividend

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

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.