Stevens Capital Management LP has acquired a new position in Ralph Lauren Corporation (NYSE: RL), purchasing 1,494 shares valued at approximately $410,000. This transaction occurred during the second quarter of 2023, as reported by Holdings Channel. The acquisition highlights increased interest from institutional investors in the textile and apparel industry.
Other institutional investors have also adjusted their stakes in Ralph Lauren recently. For instance, BNP Paribas Financial Markets increased its ownership by 31.5% in the first quarter, acquiring an additional 40,977 shares. BNP Paribas now holds a total of 171,141 shares worth approximately $37.78 million. Additionally, Signal Advisors Wealth LLC entered the market by acquiring a new stake valued at $309,000 during the second quarter.
In a notable move, Jump Financial LLC significantly expanded its position in Ralph Lauren by 8,741.2% during the first quarter, resulting in a total of 123,600 shares valued at about $27.28 million. Similarly, Aberdeen Group plc raised its stake by 17.0%, owning 7,508 shares worth $2.06 million after acquiring an additional 1,090 shares. Finally, Wealthfront Advisers LLC purchased a new position valued at approximately $286,000. Overall, institutional investors now control 67.91% of Ralph Lauren’s stock.
Ralph Lauren’s Market Performance and Recent Dividend
As of October 10, 2023, Ralph Lauren’s stock opened at $339.93 and currently holds a market capitalization of $20.61 billion. The company’s price-to-earnings ratio stands at 27.15 with a PEG ratio of 1.63 and a beta of 1.61. Over the past year, Ralph Lauren’s stock has experienced a low of $176.61 and a high of $343.44. Financial metrics indicate a debt-to-equity ratio of 0.58, a current ratio of 1.84, and a quick ratio of 1.30. The company’s fifty-day moving average price is $322.45, while its 200-day moving average price is $297.93.
In addition to its market activity, Ralph Lauren recently declared a quarterly dividend of $0.9125, which was paid on October 10, 2023. Shareholders of record as of September 26, 2023, received this dividend, reflecting an annualized payout of $3.65 and a yield of 1.1%. The company’s dividend payout ratio is currently at 26.98%, indicating a commitment to returning value to its shareholders.
Analyst Ratings and Future Projections
Recent analyses from various equities research firms suggest optimistic growth prospects for Ralph Lauren. Weiss Ratings reaffirmed a “buy (b)” rating on the stock in a report dated October 8, 2023. Barclays raised its price target for Ralph Lauren from $352.00 to $358.00 while maintaining an “overweight” rating. Additionally, Wall Street Zen upgraded the stock from a “hold” to a “buy” rating on September 13, 2023.
Further boosting investor confidence, TD Cowen increased its price target from $354.00 to $399.00, also assigning a “buy” rating. Meanwhile, Wells Fargo & Company raised its price target from $320.00 to $345.00, maintaining an “overweight” rating. Currently, two analysts have rated the stock as a Strong Buy, while 16 have assigned a Buy rating, three a Hold rating, and one a Sell rating. According to MarketBeat, Ralph Lauren has an average rating of “Moderate Buy” with a consensus price target of $347.13.
Ralph Lauren Corporation operates as a designer, marketer, and distributor of lifestyle products globally, including apparel, accessories, home products, and fragrances. The company’s diverse portfolio caters to various markets across North America, Europe, and Asia, indicating a strong presence in the global retail landscape.
For further insights on institutional holdings and movements, interested parties can refer to HoldingsChannel.com for the latest 13F filings and insider trades related to Ralph Lauren Corporation.
