Jennison Associates LLC grew its position in shares of Ralph Lauren Co. (NYSE:RL – Free Report) by 13.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 520,393 shares of the textile maker’s stock after acquiring an additional 60,610 shares during the period. Jennison Associates LLC’s holdings in Ralph Lauren were worth $100,889,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Family Firm Inc. bought a new stake in Ralph Lauren during the second quarter worth about $30,000. Gladius Capital Management LP bought a new stake in shares of Ralph Lauren in the 2nd quarter worth approximately $31,000. Versant Capital Management Inc grew its stake in shares of Ralph Lauren by 1,775.0% in the 2nd quarter. Versant Capital Management Inc now owns 225 shares of the textile maker’s stock worth $39,000 after buying an additional 213 shares during the last quarter. Huntington National Bank increased its position in Ralph Lauren by 86.6% during the 3rd quarter. Huntington National Bank now owns 222 shares of the textile maker’s stock valued at $43,000 after buying an additional 103 shares in the last quarter. Finally, AM Squared Ltd bought a new position in Ralph Lauren during the 3rd quarter valued at approximately $58,000. Institutional investors own 67.91% of the company’s stock.
Ralph Lauren Stock Performance
RL stock opened at $202.15 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.72 and a quick ratio of 1.18. Ralph Lauren Co. has a 1 year low of $120.95 and a 1 year high of $237.16. The company has a market cap of $12.55 billion, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 1.58 and a beta of 1.49. The stock’s fifty day moving average price is $198.61 and its 200-day moving average price is $181.72.
Ralph Lauren Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.825 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.30 annualized dividend and a yield of 1.63%. Ralph Lauren’s payout ratio is presently 31.46%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on the company. StockNews.com raised Ralph Lauren from a “hold” rating to a “buy” rating in a research note on Monday. The Goldman Sachs Group increased their price objective on shares of Ralph Lauren from $171.00 to $193.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. TD Cowen lifted their target price on shares of Ralph Lauren from $208.00 to $251.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. UBS Group increased their price target on shares of Ralph Lauren from $287.00 to $300.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $207.00 price objective on shares of Ralph Lauren in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Ralph Lauren currently has an average rating of “Moderate Buy” and a consensus target price of $223.90.
Check Out Our Latest Report on RL
About Ralph Lauren
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.
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