Atreides Management LP Raises Position in Ralph Lauren Co. (NYSE:RL)

Atreides Management LP raised its stake in Ralph Lauren Co. (NYSE:RL) by 28.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 377,481 shares of the textile maker’s stock after purchasing an additional 83,349 shares during the quarter. Ralph Lauren accounts for about 1.9% of Atreides Management LP’s portfolio, making the stock its 16th biggest position. Atreides Management LP owned approximately 0.61% of Ralph Lauren worth $73,182,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of RL. Family Firm Inc. purchased a new stake in shares of Ralph Lauren during the second quarter valued at approximately $30,000. Gladius Capital Management LP purchased a new stake in shares of Ralph Lauren during the second quarter valued at approximately $31,000. Versant Capital Management Inc increased its position in shares of Ralph Lauren by 1,775.0% during the second quarter. Versant Capital Management Inc now owns 225 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 213 shares during the last quarter. Huntington National Bank increased its position in shares of Ralph Lauren by 86.6% during the third quarter. Huntington National Bank now owns 222 shares of the textile maker’s stock valued at $43,000 after acquiring an additional 103 shares during the last quarter. Finally, True Wealth Design LLC increased its position in shares of Ralph Lauren by 8,933.3% during the third quarter. True Wealth Design LLC now owns 271 shares of the textile maker’s stock valued at $53,000 after acquiring an additional 268 shares during the last quarter. 67.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Telsey Advisory Group reissued an “outperform” rating and set a $207.00 price objective on shares of Ralph Lauren in a report on Thursday, November 7th. UBS Group increased their price objective on Ralph Lauren from $287.00 to $300.00 and gave the company a “buy” rating in a report on Friday, November 8th. Guggenheim increased their price objective on Ralph Lauren from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company increased their price objective on Ralph Lauren from $195.00 to $205.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their price objective on Ralph Lauren from $171.00 to $193.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Ralph Lauren presently has an average rating of “Moderate Buy” and an average price target of $223.90.

Ralph Lauren Price Performance

Ralph Lauren stock opened at $231.40 on Monday. Ralph Lauren Co. has a one year low of $127.68 and a one year high of $237.16. The business has a fifty day moving average price of $203.93 and a 200-day moving average price of $184.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.72 and a quick ratio of 1.18. The firm has a market capitalization of $14.37 billion, a P/E ratio of 22.06, a PEG ratio of 1.78 and a beta of 1.49.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings results on Thursday, November 7th. The textile maker reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. Ralph Lauren had a return on equity of 29.44% and a net margin of 10.15%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company earned $2.10 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities research analysts forecast that Ralph Lauren Co. will post 11.71 EPS for the current year.

Ralph Lauren Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.43%. The ex-dividend date was Friday, September 27th. Ralph Lauren’s dividend payout ratio is 31.46%.

Ralph Lauren Profile

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men’s, women’s, and children’s clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.