Summit Global Investments Acquires 4,962 Shares of Ralph Lauren Co. (NYSE:RL)

Summit Global Investments raised its position in shares of Ralph Lauren Co. (NYSE:RL - Free Report) by 346.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,396 shares of the textile maker's stock after buying an additional 4,962 shares during the period. Summit Global Investments' holdings in Ralph Lauren were worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Family Firm Inc. acquired a new stake in shares of Ralph Lauren in the second quarter valued at approximately $30,000. Gladius Capital Management LP acquired a new stake in Ralph Lauren during the 2nd quarter worth $31,000. Versant Capital Management Inc grew its holdings in Ralph Lauren by 1,775.0% during the 2nd quarter. Versant Capital Management Inc now owns 225 shares of the textile maker's stock worth $39,000 after acquiring an additional 213 shares during the period. EntryPoint Capital LLC acquired a new stake in Ralph Lauren during the 1st quarter worth $63,000. Finally, Signaturefd LLC grew its holdings in Ralph Lauren by 80.8% during the 2nd quarter. Signaturefd LLC now owns 367 shares of the textile maker's stock worth $64,000 after acquiring an additional 164 shares during the period. Institutional investors and hedge funds own 67.91% of the company's stock.

Ralph Lauren Stock Performance

RL traded up $0.88 on Friday, reaching $222.58. The company had a trading volume of 816,101 shares, compared to its average volume of 866,140. Ralph Lauren Co. has a fifty-two week low of $113.92 and a fifty-two week high of $237.16. The stock has a market cap of $13.79 billion, a P/E ratio of 21.22, a P/E/G ratio of 1.65 and a beta of 1.49. The company's fifty day moving average is $192.92 and its 200 day moving average is $179.25. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.53 and a current ratio of 2.19.

Ralph Lauren (NYSE:RL - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $2.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.43 by $0.11. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.68 billion. Ralph Lauren had a net margin of 10.27% and a return on equity of 28.79%. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.10 EPS. As a group, analysts predict that Ralph Lauren Co. will post 11.33 earnings per share for the current fiscal year.

Ralph Lauren Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Friday, September 27th. Ralph Lauren's dividend payout ratio (DPR) is presently 31.46%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RL. Cfra set a $171.00 price target on shares of Ralph Lauren in a research report on Thursday, October 17th. Barclays lifted their price target on shares of Ralph Lauren from $200.00 to $257.00 and gave the stock an "overweight" rating in a research report on Friday. Telsey Advisory Group reissued an "outperform" rating and set a $207.00 price target on shares of Ralph Lauren in a research report on Thursday. The Goldman Sachs Group lifted their price target on shares of Ralph Lauren from $171.00 to $193.00 and gave the stock a "neutral" rating in a research report on Monday, October 21st. Finally, StockNews.com raised shares of Ralph Lauren from a "hold" rating to a "buy" rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $223.90.

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.