Summit Global Investments Has $1.24 Million Stake in Ralph Lauren Co. (NYSE:RL)

Summit Global Investments grew its holdings in Ralph Lauren Co. (NYSE:RL) by 346.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,396 shares of the textile maker’s stock after purchasing an additional 4,962 shares during the quarter. Summit Global Investments’ holdings in Ralph Lauren were worth $1,240,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Family Firm Inc. acquired a new stake in Ralph Lauren in the 2nd quarter valued at approximately $30,000. Gladius Capital Management LP bought a new stake in shares of Ralph Lauren during the second quarter valued at approximately $31,000. Versant Capital Management Inc raised its stake in shares of Ralph Lauren by 1,775.0% in the second quarter. Versant Capital Management Inc now owns 225 shares of the textile maker’s stock valued at $39,000 after purchasing an additional 213 shares in the last quarter. EntryPoint Capital LLC bought a new position in Ralph Lauren in the first quarter worth $63,000. Finally, Signaturefd LLC increased its holdings in Ralph Lauren by 80.8% in the 2nd quarter. Signaturefd LLC now owns 367 shares of the textile maker’s stock valued at $64,000 after buying an additional 164 shares during the period. 67.91% of the stock is currently owned by institutional investors.

Ralph Lauren Stock Performance

Ralph Lauren stock opened at $222.58 on Friday. The stock has a 50-day simple moving average of $192.92 and a 200 day simple moving average of $179.25. The stock has a market capitalization of $13.79 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 1.65 and a beta of 1.49. The company has a quick ratio of 1.53, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. Ralph Lauren Co. has a 12-month low of $113.92 and a 12-month high of $237.16.

Ralph Lauren (NYSE:RL) last announced its earnings results on Thursday, November 7th. The textile maker reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.11. Ralph Lauren had a net margin of 10.27% and a return on equity of 28.79%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the business earned $2.10 earnings per share. Ralph Lauren’s quarterly revenue was up 5.7% on a year-over-year basis. On average, research analysts anticipate that Ralph Lauren Co. will post 11.33 earnings per share for the current fiscal year.

Ralph Lauren Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Ralph Lauren from $287.00 to $300.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company lifted their price objective on Ralph Lauren from $195.00 to $205.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. StockNews.com raised Ralph Lauren from a “hold” rating to a “buy” rating in a report on Friday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $207.00 price target on shares of Ralph Lauren in a research note on Thursday. Finally, Guggenheim upped their price target on Ralph Lauren from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Ralph Lauren presently has a consensus rating of “Moderate Buy” and an average price target of $223.90.

About Ralph Lauren

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.