Bank of Nova Scotia Acquires Shares of 45,098 Ralph Lauren Co. (NYSE:RL)

Bank of Nova Scotia purchased a new stake in Ralph Lauren Co. (NYSE:RL - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 45,098 shares of the textile maker's stock, valued at approximately $10,417,000. Bank of Nova Scotia owned about 0.07% of Ralph Lauren at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in RL. FMR LLC increased its stake in Ralph Lauren by 16.9% in the 4th quarter. FMR LLC now owns 1,415,473 shares of the textile maker's stock valued at $326,946,000 after buying an additional 205,121 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Ralph Lauren by 30.6% in the 4th quarter. Invesco Ltd. now owns 1,237,512 shares of the textile maker's stock worth $285,841,000 after buying an additional 289,924 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Ralph Lauren by 8.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,079,578 shares of the textile maker's stock worth $249,361,000 after acquiring an additional 82,819 shares during the last quarter. Boston Partners raised its holdings in Ralph Lauren by 7.1% during the 4th quarter. Boston Partners now owns 982,927 shares of the textile maker's stock valued at $227,085,000 after buying an additional 65,303 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Ralph Lauren by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 968,776 shares of the textile maker's stock valued at $223,513,000 after acquiring an additional 19,264 shares in the last quarter. Institutional investors own 67.91% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have commented on RL shares. The Goldman Sachs Group raised Ralph Lauren from a "neutral" rating to a "buy" rating and raised their price objective for the company from $280.00 to $286.00 in a report on Tuesday, March 18th. Barclays boosted their price target on shares of Ralph Lauren from $257.00 to $310.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Citigroup dropped their target price on Ralph Lauren from $282.00 to $219.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Jefferies Financial Group raised their price objective on Ralph Lauren from $285.00 to $330.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Finally, TD Cowen lifted their price target on shares of Ralph Lauren from $258.00 to $268.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $277.43.

Ralph Lauren Price Performance

NYSE RL traded down $0.96 during trading hours on Wednesday, hitting $202.30. The company had a trading volume of 170,572 shares, compared to its average volume of 843,945. Ralph Lauren Co. has a 52 week low of $155.96 and a 52 week high of $289.33. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.31 and a current ratio of 1.76. The firm has a market capitalization of $12.49 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.73 and a beta of 1.38. The firm has a 50 day simple moving average of $237.26 and a 200 day simple moving average of $227.64.

Ralph Lauren (NYSE:RL - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The textile maker reported $4.82 earnings per share for the quarter, beating analysts' consensus estimates of $4.46 by $0.36. Ralph Lauren had a net margin of 10.14% and a return on equity of 30.88%. Equities research analysts expect that Ralph Lauren Co. will post 12.01 earnings per share for the current year.

Ralph Lauren Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a $0.825 dividend. The ex-dividend date was Friday, March 28th. This represents a $3.30 annualized dividend and a dividend yield of 1.63%. Ralph Lauren's dividend payout ratio (DPR) is 30.11%.

Ralph Lauren 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.