Kovitz Investment Group Partners LLC Grows Stake in Ralph Lauren Co. (NYSE:RL)

Kovitz Investment Group Partners LLC increased its holdings in shares of Ralph Lauren Co. (NYSE:RLGet Rating) by 78.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 12,243 shares of the textile maker’s stock after acquiring an additional 5,397 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Ralph Lauren were worth $1,270,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. US Asset Management LLC bought a new stake in shares of Ralph Lauren in the 3rd quarter valued at approximately $32,000. Evolution Wealth Advisors LLC lifted its stake in shares of Ralph Lauren by 123.8% in the 3rd quarter. Evolution Wealth Advisors LLC now owns 338 shares of the textile maker’s stock valued at $38,000 after purchasing an additional 187 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Ralph Lauren by 38.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 453 shares of the textile maker’s stock valued at $54,000 after purchasing an additional 125 shares during the last quarter. IndexIQ Advisors LLC bought a new stake in shares of Ralph Lauren in the 4th quarter valued at approximately $84,000. Finally, Fifth Third Bancorp lifted its stake in shares of Ralph Lauren by 32.3% in the 4th quarter. Fifth Third Bancorp now owns 851 shares of the textile maker’s stock valued at $101,000 after purchasing an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 64.31% of the company’s stock.

NYSE RL traded up $3.25 during trading hours on Tuesday, reaching $111.95. The company’s stock had a trading volume of 5,365 shares, compared to its average volume of 1,076,755. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 16.79 and a beta of 1.41. Ralph Lauren Co. has a 1-year low of $100.44 and a 1-year high of $142.06. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.50. The company’s 50-day moving average is $117.27 and its two-hundred day moving average is $118.12.

Ralph Lauren (NYSE:RLGet Rating) last released its quarterly earnings results on Thursday, February 3rd. The textile maker reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.77. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Ralph Lauren had a return on equity of 22.59% and a net margin of 8.38%. Ralph Lauren’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.67 EPS. Equities analysts forecast that Ralph Lauren Co. will post 8.14 EPS for the current fiscal year.

Ralph Lauren announced that its board has approved a stock buyback program on Thursday, February 3rd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the textile maker to repurchase up to 17.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Friday, April 1st were issued a $0.6875 dividend. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $2.75 dividend on an annualized basis and a yield of 2.46%. Ralph Lauren’s payout ratio is 41.23%.

Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on Ralph Lauren from $135.00 to $140.00 in a research note on Friday, February 4th. Zacks Investment Research lowered Ralph Lauren from a “strong-buy” rating to a “hold” rating and set a $115.00 price target for the company. in a research note on Thursday, March 10th. Credit Suisse Group raised their price target on Ralph Lauren from $155.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 4th. Truist Financial raised their price target on Ralph Lauren from $141.00 to $156.00 in a research note on Friday, February 4th. Finally, UBS Group raised their price objective on Ralph Lauren from $168.00 to $171.00 and gave the stock a “buy” rating in a report on Monday, February 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $136.00.

About Ralph Lauren (Get Rating)

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 and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, umbrellas, and belts, 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, floor coverings, and giftware; and fragrances.

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Institutional Ownership by Quarter for Ralph Lauren (NYSE:RL)

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