Ralph Lauren Co. (NYSE:RL) Shares Acquired by Corebridge Financial Inc.

Corebridge Financial Inc. increased its stake in shares of Ralph Lauren Co. (NYSE:RL) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,189 shares of the textile maker’s stock after purchasing an additional 98 shares during the period. Corebridge Financial Inc.’s holdings in Ralph Lauren were worth $2,353,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Boston Partners boosted its position in Ralph Lauren by 7.1% during the fourth quarter. Boston Partners now owns 982,927 shares of the textile maker’s stock worth $227,085,000 after acquiring an additional 65,303 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ralph Lauren by 3.3% during the third 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 last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Ralph Lauren during the third quarter worth $94,831,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Ralph Lauren by 30.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 305,532 shares of the textile maker’s stock valued at $59,233,000 after purchasing an additional 71,479 shares during the period. Finally, Truist Financial Corp increased its stake in Ralph Lauren by 5.6% in the fourth quarter. Truist Financial Corp now owns 279,156 shares of the textile maker’s stock valued at $64,480,000 after purchasing an additional 14,693 shares during the last quarter. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RL shares. 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. Needham & Company LLC started coverage on Ralph Lauren in a research note on Wednesday, February 12th. They issued a “buy” rating and a $310.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of Ralph Lauren from $225.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. The Goldman Sachs Group raised shares of Ralph Lauren from a “neutral” rating to a “buy” rating and lifted their price target for the company from $280.00 to $286.00 in a research report on Tuesday, March 18th. Finally, TD Cowen increased their price objective on shares of Ralph Lauren from $258.00 to $268.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $284.62.

Ralph Lauren Stock Performance

Ralph Lauren stock opened at $228.72 on Wednesday. The company has a current ratio of 1.76, a quick ratio of 1.31 and a debt-to-equity ratio of 0.39. The stock has a 50 day moving average of $250.23 and a 200-day moving average of $227.18. The stock has a market cap of $14.13 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 1.73 and a beta of 1.50. Ralph Lauren Co. has a 52 week low of $155.96 and a 52 week high of $289.33.

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 the consensus estimate of $4.46 by $0.36. Ralph Lauren had a net margin of 10.14% and a return on equity of 30.88%. On average, analysts expect that Ralph Lauren Co. will post 12.01 EPS for the current fiscal year.

Ralph Lauren Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.825 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $3.30 annualized dividend and a dividend yield of 1.44%. Ralph Lauren’s payout ratio is 30.11%.

Ralph Lauren Company 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.