276,563 Shares in Ralph Lauren Corporation $RL Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. acquired a new stake in shares of Ralph Lauren Corporation (NYSE:RL) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 276,563 shares of the textile maker’s stock, valued at approximately $86,719,000. Ralph Lauren makes up approximately 0.3% of Rakuten Investment Management Inc.’s holdings, making the stock its 27th largest position. Rakuten Investment Management Inc. owned approximately 0.46% of Ralph Lauren at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Broad Peak Investment Advisers Pte Ltd bought a new position in Ralph Lauren during the second quarter valued at approximately $6,308,000. JPMorgan Chase & Co. grew its position in Ralph Lauren by 13.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,007,745 shares of the textile maker’s stock worth $276,407,000 after purchasing an additional 117,494 shares during the period. Entropy Technologies LP purchased a new stake in Ralph Lauren during the 2nd quarter valued at $3,902,000. Wealthfront Advisers LLC bought a new stake in shares of Ralph Lauren in the second quarter worth $286,000. Finally, Whalen Wealth Management Inc. purchased a new stake in Ralph Lauren during the third quarter valued at $487,000. 67.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RL shares. Guggenheim began coverage on Ralph Lauren in a research report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Jefferies Financial Group assumed coverage on shares of Ralph Lauren in a research note on Wednesday, January 14th. They issued a “buy” rating and a $425.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Ralph Lauren from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft set a $422.00 target price on shares of Ralph Lauren in a report on Thursday, January 8th. Finally, TD Cowen raised their target price on Ralph Lauren from $354.00 to $399.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $375.29.

Ralph Lauren Stock Down 0.8%

Shares of RL stock opened at $359.98 on Wednesday. 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 Corporation has a one year low of $176.61 and a one year high of $380.00. The company’s fifty day moving average price is $357.92 and its 200-day moving average price is $325.16. The company has a market capitalization of $21.83 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 1.53 and a beta of 1.49.

Ralph Lauren (NYSE:RL) last issued its earnings results on Thursday, November 6th. The textile maker reported $3.79 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.34. Ralph Lauren had a net margin of 11.28% and a return on equity of 36.18%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm posted $2.54 EPS. Ralph Lauren’s quarterly revenue was up 16.5% compared to the same quarter last year. Sell-side analysts expect that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were issued a $0.9125 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $3.65 dividend on an annualized basis and a yield of 1.0%. Ralph Lauren’s payout ratio is currently 26.98%.

About Ralph Lauren

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.