State of New Jersey Common Pension Fund D Grows Position in Ralph Lauren Corporation $RL

by · The Cerbat Gem

State of New Jersey Common Pension Fund D raised its holdings in Ralph Lauren Corporation (NYSE:RL – Free Report) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,066 shares of the textile maker’s stock after purchasing an additional 358 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Ralph Lauren were worth $3,584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Keeler Thomas Management LLC bought a new position in Ralph Lauren in the 2nd quarter worth approximately $1,591,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Ralph Lauren by 57.9% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,900 shares of the textile maker’s stock worth $1,070,000 after acquiring an additional 1,430 shares during the period. West Michigan Advisors LLC bought a new position in shares of Ralph Lauren in the second quarter worth $274,000. Asset Management One Co. Ltd. grew its position in shares of Ralph Lauren by 30.3% in the second quarter. Asset Management One Co. Ltd. now owns 1,587 shares of the textile maker’s stock valued at $435,000 after purchasing an additional 369 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Ralph Lauren during the 2nd quarter worth about $513,000. Institutional investors own 67.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RL shares. JPMorgan Chase & Co. upped their price target on Ralph Lauren from $423.00 to $430.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. TD Cowen upped their target price on shares of Ralph Lauren from $354.00 to $399.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Zacks Research raised shares of Ralph Lauren to a “strong-buy” rating in a report on Tuesday, August 12th. Needham & Company LLC upped their price target on shares of Ralph Lauren from $335.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Finally, Telsey Advisory Group increased their price objective on Ralph Lauren from $335.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ralph Lauren presently has a consensus rating of “Moderate Buy” and an average price target of $336.12.

Check Out Our Latest Report on RL

Ralph Lauren Price Performance

RL stock opened at $338.13 on Tuesday. The firm has a market cap of $20.48 billion, a P/E ratio of 27.01, a P/E/G ratio of 1.67 and a beta of 1.61. The firm’s fifty day moving average is $312.87 and its 200 day moving average is $283.07. Ralph Lauren Corporation has a 52 week low of $176.61 and a 52 week high of $341.90. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.84.

Ralph Lauren (NYSE:RL – Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The textile maker reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.27. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm earned $2.70 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. Research analysts predict that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a $0.9125 dividend. The ex-dividend date was Friday, September 26th. This represents a $3.65 annualized dividend and a yield of 1.1%. Ralph Lauren’s payout ratio is presently 29.15%.

Ralph Lauren Company Profile

(Free Report)

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.

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