iA Global Asset Management Inc. Purchases 4,805 Shares of Ralph Lauren Co. (NYSE:RL)

iA Global Asset Management Inc. increased its holdings in shares of Ralph Lauren Co. (NYSE:RL) by 106.7% during the first quarter, Holdings Channel reports. The fund owned 9,308 shares of the textile maker’s stock after purchasing an additional 4,805 shares during the period. iA Global Asset Management Inc.’s holdings in Ralph Lauren were worth $1,748,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Comerica Bank increased its position in Ralph Lauren by 166.9% in the 1st quarter. Comerica Bank now owns 20,127 shares of the textile maker’s stock valued at $3,779,000 after acquiring an additional 12,585 shares in the last quarter. Tidal Investments LLC raised its position in Ralph Lauren by 193.9% in the 1st quarter. Tidal Investments LLC now owns 23,021 shares of the textile maker’s stock worth $4,322,000 after purchasing an additional 15,188 shares during the last quarter. Redwood Investment Management LLC acquired a new position in Ralph Lauren during the 1st quarter worth $1,520,000. Interval Partners LP bought a new position in Ralph Lauren in the 1st quarter valued at $18,776,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Ralph Lauren in the 1st quarter valued at $694,000. 67.91% of the stock is owned by institutional investors and hedge funds.

Ralph Lauren Stock Performance

RL stock traded down $9.61 during midday trading on Friday, reaching $162.99. 697,102 shares of the company were exchanged, compared to its average volume of 938,638. Ralph Lauren Co. has a one year low of $108.60 and a one year high of $192.03. The firm has a market capitalization of $10.19 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 1.43 and a beta of 1.52. The business has a 50-day moving average price of $177.00 and a two-hundred day moving average price of $171.28. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.29 and a quick ratio of 1.68.

Ralph Lauren (NYSE:RL) last announced its earnings results on Thursday, May 23rd. The textile maker reported $1.71 EPS for the quarter, topping the consensus estimate of $1.65 by $0.06. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.57 billion. Ralph Lauren had a net margin of 9.75% and a return on equity of 27.90%. Ralph Lauren’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 EPS. Equities research analysts forecast that Ralph Lauren Co. will post 11.09 EPS for the current year.

Ralph Lauren Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.02%. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.75. Ralph Lauren’s dividend payout ratio (DPR) is 33.95%.

Insider Buying and Selling

In other news, COO Jane Nielsen sold 67,243 shares of Ralph Lauren stock in a transaction on Friday, May 24th. The stock was sold at an average price of $171.25, for a total transaction of $11,515,363.75. Following the completion of the sale, the chief operating officer now owns 44,591 shares of the company’s stock, valued at $7,636,208.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 11.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RL has been the subject of a number of research reports. UBS Group increased their price objective on Ralph Lauren from $244.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Argus restated a “hold” rating on shares of Ralph Lauren in a report on Tuesday, July 2nd. Wells Fargo & Company lowered their price target on shares of Ralph Lauren from $185.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday, May 24th. Jefferies Financial Group began coverage on shares of Ralph Lauren in a research note on Tuesday, April 30th. They set a “buy” rating and a $195.00 price objective for the company. Finally, TD Cowen lowered their target price on Ralph Lauren from $202.00 to $196.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Ralph Lauren currently has an average rating of “Moderate Buy” and a consensus target price of $170.42.

Ralph Lauren 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, lighting, tabletop, kitchen linens, floor coverings, and giftware; and fragrances.