Norges Bank Makes New $12.62 Million Investment in Ralph Lauren Co. (NYSE:RL)

Norges Bank bought a new position in shares of Ralph Lauren Co. (NYSE:RL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 54,632 shares of the textile maker's stock, valued at approximately $12,619,000. Norges Bank owned approximately 0.09% of Ralph Lauren as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mather Group LLC. boosted its stake in Ralph Lauren by 4.1% in the 4th quarter. Mather Group LLC. now owns 1,182 shares of the textile maker's stock worth $273,000 after purchasing an additional 47 shares during the period. M&T Bank Corp lifted its stake in shares of Ralph Lauren by 3.4% in the 3rd quarter. M&T Bank Corp now owns 1,657 shares of the textile maker's stock valued at $321,000 after acquiring an additional 55 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Ralph Lauren by 6.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,005 shares of the textile maker's stock worth $231,000 after purchasing an additional 62 shares during the period. TD Private Client Wealth LLC lifted its stake in Ralph Lauren by 19.6% in the fourth quarter. TD Private Client Wealth LLC now owns 446 shares of the textile maker's stock worth $103,000 after acquiring an additional 73 shares during the period. Finally, Atomi Financial Group Inc. raised its stake in Ralph Lauren by 7.4% in the fourth quarter. Atomi Financial Group Inc. now owns 1,274 shares of the textile maker's stock worth $294,000 after buying an additional 88 shares in the last quarter. Institutional investors own 67.91% of the company's stock.

Remove Ads

Ralph Lauren Price Performance

Shares of NYSE:RL traded up $3.22 during midday trading on Friday, reaching $197.89. 975,330 shares of the company's stock traded hands, compared to its average volume of 847,618. The company has a market cap of $12.22 billion, a P/E ratio of 18.06, a PEG ratio of 1.73 and a beta of 1.38. The company has a fifty day simple moving average of $239.60 and a two-hundred day simple moving average of $227.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.31 and a current ratio of 1.76. Ralph Lauren Co. has a 1 year low of $155.96 and a 1 year high of $289.33.

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

Ralph Lauren Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a $0.825 dividend. The ex-dividend date was Friday, March 28th. This represents a $3.30 annualized dividend and a dividend yield of 1.67%. Ralph Lauren's dividend payout ratio is presently 30.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. BNP Paribas raised Ralph Lauren to a "strong-buy" rating in a report on Thursday, January 23rd. Citigroup reduced their price objective on shares of Ralph Lauren from $282.00 to $219.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Guggenheim lifted their target price on Ralph Lauren from $285.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, February 7th. The Goldman Sachs Group upgraded shares of Ralph Lauren from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $280.00 to $286.00 in a research note on Tuesday, March 18th. Finally, UBS Group raised their target price on shares of Ralph Lauren from $332.00 to $348.00 and gave the company a "buy" rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $277.43.

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.