Atreides Management LP Acquires 83,349 Shares of Ralph Lauren Co. (NYSE:RL)

Atreides Management LP boosted its holdings in shares of Ralph Lauren Co. (NYSE:RL) by 28.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 377,481 shares of the textile maker’s stock after buying an additional 83,349 shares during the period. Ralph Lauren makes up approximately 1.9% of Atreides Management LP’s investment portfolio, making the stock its 16th biggest position. Atreides Management LP’s holdings in Ralph Lauren were worth $73,182,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RL. Comerica Bank raised its position in Ralph Lauren by 166.9% during the first quarter. Comerica Bank now owns 20,127 shares of the textile maker’s stock valued at $3,779,000 after purchasing an additional 12,585 shares in the last quarter. GAMMA Investing LLC raised its position in Ralph Lauren by 71.6% during the second quarter. GAMMA Investing LLC now owns 604 shares of the textile maker’s stock valued at $106,000 after purchasing an additional 252 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Ralph Lauren by 1,775.0% in the second 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 period. Mather Group LLC. increased its holdings in shares of Ralph Lauren by 26.3% in the second quarter. Mather Group LLC. now owns 432 shares of the textile maker’s stock worth $81,000 after buying an additional 90 shares during the period. Finally, Fulton Bank N.A. increased its holdings in shares of Ralph Lauren by 10.3% in the second quarter. Fulton Bank N.A. now owns 2,774 shares of the textile maker’s stock worth $486,000 after buying an additional 259 shares during the period. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Ralph Lauren Stock Up 3.9 %

NYSE RL opened at $231.40 on Monday. 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 stock has a market capitalization of $14.37 billion, a PE ratio of 22.06, a PEG ratio of 1.78 and a beta of 1.49. Ralph Lauren Co. has a 1 year low of $127.68 and a 1 year high of $237.16. The business’s 50-day moving average is $203.93 and its 200 day moving average is $184.33.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.11. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Ralph Lauren had a return on equity of 29.44% and a net margin of 10.15%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.10 EPS. Sell-side analysts forecast that Ralph Lauren Co. will post 11.71 earnings per share for the current year.

Ralph Lauren Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently commented on RL. The Goldman Sachs Group lifted their price objective on Ralph Lauren from $171.00 to $193.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Barclays lifted their price objective on Ralph Lauren from $200.00 to $257.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Raymond James lifted their price objective on Ralph Lauren from $215.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Telsey Advisory Group reiterated an “outperform” rating and issued a $207.00 price objective on shares of Ralph Lauren in a report on Thursday, November 7th. Finally, Cfra set a $171.00 price objective on Ralph Lauren in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Ralph Lauren currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.90.

Ralph Lauren Company 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.