Bull Harbor Capital LLC Invests $1.07 Million in Ralph Lauren Corporation $RL

Bull Harbor Capital LLC bought a new stake in Ralph Lauren Corporation (NYSE:RL) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,112 shares of the textile maker’s stock, valued at approximately $1,070,000.

Other institutional investors also recently bought and sold shares of the company. Summit Global Investments increased its stake in Ralph Lauren by 2.0% in the 1st quarter. Summit Global Investments now owns 1,510 shares of the textile maker’s stock worth $519,000 after purchasing an additional 29 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Ralph Lauren by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,425 shares of the textile maker’s stock valued at $1,565,000 after purchasing an additional 31 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Ralph Lauren by 14.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 251 shares of the textile maker’s stock valued at $90,000 after purchasing an additional 31 shares during the period. Polymer Capital Management US LLC boosted its stake in shares of Ralph Lauren by 1.1% during the third quarter. Polymer Capital Management US LLC now owns 3,230 shares of the textile maker’s stock valued at $1,013,000 after purchasing an additional 34 shares during the period. Finally, Vident Advisory LLC grew its holdings in shares of Ralph Lauren by 3.0% in the fourth quarter. Vident Advisory LLC now owns 1,257 shares of the textile maker’s stock worth $445,000 after purchasing an additional 37 shares during the last quarter. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Ralph Lauren Trading Down 0.5%

Shares of RL opened at $375.76 on Thursday. The firm’s 50-day moving average price is $387.07 and its 200-day moving average price is $367.42. The firm has a market capitalization of $22.37 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 1.87 and a beta of 1.34. The company has a current ratio of 2.13, a quick ratio of 1.57 and a debt-to-equity ratio of 0.51. Ralph Lauren Corporation has a 1-year low of $273.04 and a 1-year high of $421.60.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.28. Ralph Lauren had a net margin of 11.60% and a return on equity of 38.17%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the company earned $2.27 earnings per share. Ralph Lauren’s quarterly revenue was up 16.6% on a year-over-year basis. Sell-side analysts anticipate that Ralph Lauren Corporation will post 18.33 EPS for the current year.

Ralph Lauren Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.91. Ralph Lauren’s dividend payout ratio is currently 26.47%.

Wall Street Analysts Forecast Growth

RL has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of Ralph Lauren from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Zacks Research cut shares of Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Ralph Lauren in a report on Thursday, May 21st. Wall Street Zen raised shares of Ralph Lauren from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Finally, Weiss Ratings cut shares of Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 15th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $430.79.

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.