Truist Financial Corp Raises Stock Holdings in Ralph Lauren Co. (NYSE:RL)

Truist Financial Corp raised its position in shares of Ralph Lauren Co. (NYSE:RL) by 42.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 231,480 shares of the textile maker’s stock after buying an additional 69,047 shares during the quarter. Truist Financial Corp owned about 0.37% of Ralph Lauren worth $40,523,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Family Firm Inc. bought a new stake in Ralph Lauren during the second quarter worth about $30,000. Gladius Capital Management LP purchased a new position in shares of Ralph Lauren during the second quarter valued at approximately $31,000. Fidelis Capital Partners LLC purchased a new stake in shares of Ralph Lauren in the 1st quarter worth approximately $42,000. Versant Capital Management Inc increased its position 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 valued at $39,000 after buying an additional 213 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Ralph Lauren during the first quarter valued at $63,000. Institutional investors own 67.91% of the company’s stock.

Ralph Lauren Price Performance

NYSE RL opened at $193.12 on Thursday. The stock has a market capitalization of $11.96 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 1.61 and a beta of 1.49. Ralph Lauren Co. has a 1-year low of $108.60 and a 1-year high of $200.17. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.53. The business’s fifty day moving average price is $173.50 and its 200-day moving average price is $173.95.

Ralph Lauren (NYSE:RL) last announced its earnings results on Wednesday, August 7th. The textile maker reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.25. Ralph Lauren had a return on equity of 28.79% and a net margin of 10.27%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the firm posted $2.34 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts predict that Ralph Lauren Co. will post 11.23 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a $0.825 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.30 annualized dividend and a yield of 1.71%. Ralph Lauren’s payout ratio is presently 33.95%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RL shares. Barclays increased their target price on Ralph Lauren from $195.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Argus restated a “hold” rating on shares of Ralph Lauren in a research note on Tuesday, July 2nd. TD Cowen upped their target price on shares of Ralph Lauren from $193.00 to $208.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company raised their price target on shares of Ralph Lauren from $175.00 to $195.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $207.00 price objective on shares of Ralph Lauren in a research report on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $189.00.

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, lighting, tabletop, kitchen linens, floor coverings, and giftware; and fragrances.