M&T Bank Corp Raises Holdings in Ralph Lauren Co. (NYSE:RL)

M&T Bank Corp lifted its position in Ralph Lauren Co. (NYSE:RL) by 3.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,657 shares of the textile maker’s stock after acquiring an additional 55 shares during the quarter. M&T Bank Corp’s holdings in Ralph Lauren were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RL. Family Firm Inc. purchased a new position in shares of Ralph Lauren in the 2nd quarter worth $30,000. Huntington National Bank grew its position in Ralph Lauren by 86.6% in the third quarter. Huntington National Bank now owns 222 shares of the textile maker’s stock worth $43,000 after acquiring an additional 103 shares in the last quarter. True Wealth Design LLC increased its stake in Ralph Lauren by 8,933.3% during the third quarter. True Wealth Design LLC now owns 271 shares of the textile maker’s stock worth $53,000 after acquiring an additional 268 shares during the last quarter. AM Squared Ltd purchased a new stake in Ralph Lauren during the 3rd quarter valued at $58,000. Finally, Signaturefd LLC grew its holdings in Ralph Lauren by 80.8% during the 2nd quarter. Signaturefd LLC now owns 367 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 164 shares during the last quarter. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Ralph Lauren Stock Performance

Shares of RL stock opened at $221.19 on Thursday. The company’s 50 day moving average is $213.24 and its 200 day moving average is $189.41. The company has a quick ratio of 1.18, a current ratio of 1.72 and a debt-to-equity ratio of 0.40. The firm has a market cap of $13.74 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 1.69 and a beta of 1.50. Ralph Lauren Co. has a 52-week low of $134.90 and a 52-week high of $237.16.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Thursday, November 7th. The textile maker reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.11. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.68 billion. Ralph Lauren had a return on equity of 29.44% and a net margin of 10.15%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business posted $2.10 EPS. On average, sell-side analysts anticipate that Ralph Lauren Co. will post 11.71 EPS for the current fiscal year.

Ralph Lauren Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, December 27th. Ralph Lauren’s payout ratio is 31.46%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Raymond James boosted their target price on shares of Ralph Lauren from $215.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Barclays boosted their price objective on shares of Ralph Lauren from $200.00 to $257.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. TD Cowen raised their target price on shares of Ralph Lauren from $208.00 to $251.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company boosted their price target on Ralph Lauren from $195.00 to $205.00 and gave the company an “equal weight” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group raised their price objective on Ralph Lauren from $171.00 to $193.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Ralph Lauren currently has a consensus rating of “Moderate Buy” and an average target price of $223.90.

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.