Hennion & Walsh Asset Management Inc. Purchases 2,351 Shares of Ralph Lauren Corporation $RL

Hennion & Walsh Asset Management Inc. lifted its position in shares of Ralph Lauren Corporation (NYSE:RL) by 58.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,354 shares of the textile maker’s stock after purchasing an additional 2,351 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Ralph Lauren were worth $2,551,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Summit Global Investments grew its position in shares of 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 buying an additional 29 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Ralph Lauren by 0.7% during 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 acquiring an additional 31 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings 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 acquiring an additional 31 shares in the last quarter. Polymer Capital Management US LLC boosted its holdings in Ralph Lauren by 1.1% in 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 acquiring an additional 34 shares in the last quarter. Finally, Vident Advisory LLC increased its position in Ralph Lauren by 3.0% during the 4th quarter. Vident Advisory LLC now owns 1,257 shares of the textile maker’s stock valued at $445,000 after purchasing an additional 37 shares during the period. 67.91% of the stock is owned by institutional investors.

Ralph Lauren Stock Up 2.9%

Shares of NYSE RL opened at $407.10 on Tuesday. The firm’s 50-day moving average is $389.36 and its 200-day moving average is $368.76. Ralph Lauren Corporation has a 1 year low of $283.50 and a 1 year high of $421.60. The firm has a market capitalization of $24.23 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings data on Thursday, August 6th. The textile maker reported $4.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.27. The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Ralph Lauren had a net margin of 11.76% and a return on equity of 39.10%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period last year, the firm earned $3.77 earnings per share. Equities analysts expect that Ralph Lauren Corporation will post 18.54 EPS for the current year.

Ralph Lauren Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, June 26th. Ralph Lauren’s payout ratio is presently 25.20%.

Wall Street Analyst Weigh In

RL has been the subject of several research reports. Raymond James Financial restated an “outperform” rating and issued a $425.00 price objective on shares of Ralph Lauren in a report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Ralph Lauren from $434.00 to $452.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Bank of America increased their price target on shares of Ralph Lauren from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Telsey Advisory Group raised their price objective on shares of Ralph Lauren from $460.00 to $470.00 and gave the stock an “outperform” rating in a report on Friday. Finally, UBS Group lifted their price objective on Ralph Lauren from $511.00 to $520.00 and gave the company a “buy” rating in a research report on Friday. Sixteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $445.67.

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.