Envestnet Portfolio Solutions Inc. Invests $914,000 in Ralph Lauren Co. (NYSE:RL)

Envestnet Portfolio Solutions Inc. bought a new position in shares of Ralph Lauren Co. (NYSE:RL) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 3,956 shares of the textile maker’s stock, valued at approximately $914,000.

A number of other hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in shares of Ralph Lauren by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 949,512 shares of the textile maker’s stock worth $183,787,000 after purchasing an additional 30,694 shares during the period. Holocene Advisors LP increased its holdings in Ralph Lauren by 10.2% in the 3rd quarter. Holocene Advisors LP now owns 839,296 shares of the textile maker’s stock worth $162,714,000 after acquiring an additional 78,008 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Ralph Lauren by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 492,787 shares of the textile maker’s stock worth $95,537,000 after acquiring an additional 13,640 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in Ralph Lauren in the 3rd quarter worth about $94,831,000. Finally, Atreides Management LP increased its holdings in Ralph Lauren by 28.3% in the 3rd quarter. Atreides Management LP now owns 377,481 shares of the textile maker’s stock worth $73,182,000 after acquiring an additional 83,349 shares during the last quarter. 67.91% of the stock is currently owned by institutional investors.

Ralph Lauren Stock Performance

NYSE:RL opened at $223.97 on Monday. The business has a 50 day moving average of $252.02 and a 200 day moving average of $224.60. The company has a market capitalization of $13.83 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.73 and a beta of 1.50. Ralph Lauren Co. has a 1-year low of $155.96 and a 1-year high of $289.33. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.76 and a quick ratio of 1.31.

Ralph Lauren (NYSE:RL) last released its earnings results on Thursday, February 6th. The textile maker reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.36. Ralph Lauren had a return on equity of 30.88% and a net margin of 10.14%. On average, sell-side analysts predict that Ralph Lauren Co. will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.825 dividend. The ex-dividend date is Friday, March 28th. This represents a $3.30 annualized dividend and a yield of 1.47%. Ralph Lauren’s payout ratio is currently 30.11%.

Wall Street Analyst Weigh In

RL has been the subject of a number of recent analyst reports. Needham & Company LLC initiated coverage on Ralph Lauren in a report on Wednesday, February 12th. They set a “buy” rating and a $310.00 target price for the company. Guggenheim lifted their target price on Ralph Lauren from $285.00 to $310.00 and gave the company a “buy” rating in a report on Friday, February 7th. BNP Paribas raised Ralph Lauren to a “strong-buy” rating in a report on Thursday, January 23rd. Cowen reaffirmed a “buy” rating on shares of Ralph Lauren in a report on Tuesday, February 4th. Finally, Argus raised Ralph Lauren from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a report on Tuesday, December 31st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $284.62.

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.