Stevens Capital Management LP has made a significant investment by acquiring 1,494 shares of Ralph Lauren Corporation (NYSE: RL) during the second quarter of 2023. The purchase, valued at approximately $410,000, underscores a growing interest among institutional investors in the renowned textile maker.
In recent months, several other institutional investors have adjusted their stakes in Ralph Lauren. Notably, BNP Paribas Financial Markets increased its investment by 31.5% in the first quarter, acquiring an additional 40,977 shares to reach a total of 171,141 shares, valued at approximately $37.78 million.
Meanwhile, Signal Advisors Wealth LLC also entered the market by purchasing a new stake in Ralph Lauren during the second quarter, worth around $309,000. Another significant player, Jump Financial LLC, expanded its position by an extraordinary 8,741.2%, bringing its total ownership to 123,600 shares, valued at about $27.28 million. Additionally, Aberdeen Group plc boosted its stake by 17.0% during the same quarter, now holding 7,508 shares worth approximately $2.06 million. Wealthfront Advisers LLC also acquired shares valued at roughly $286,000.
As of now, institutional investors collectively own 67.91% of Ralph Lauren’s stock.
Current Market Performance and Dividend Announcement
On October 10, 2023, Ralph Lauren’s stock opened at $339.93, reflecting a market capitalization of $20.61 billion. The company has a price-to-earnings ratio of 27.15, a PEG ratio of 1.63, and a beta of 1.61. Over the past year, the stock has experienced fluctuations, with a low of $176.61 and a high of $343.44. The financial health of the company is also indicated by its debt-to-equity ratio of 0.58, current ratio of 1.84, and quick ratio of 1.30. The fifty-day moving average price stands at $322.45, while the 200-day moving average price is $297.93.
Ralph Lauren recently declared a quarterly dividend of $0.9125, which was paid to shareholders on October 10, 2023. The dividend reflects an annualized payout of $3.65 and a yield of 1.1%. Currently, the company’s dividend payout ratio (DPR) is 26.98%.
Analyst Ratings and Future Outlook
Equities research analysts have weighed in on Ralph Lauren’s performance. Weiss Ratings recently reaffirmed a “buy (b)” rating in a note dated October 8, 2023. Furthermore, Barclays raised its price objective from $352.00 to $358.00, assigning an “overweight” rating in a report released on November 7, 2023. TD Cowen also increased its price target from $354.00 to $399.00, while Wells Fargo & Company adjusted its price target from $320.00 to $345.00.
Overall, investment analysts have responded positively; two have rated the stock as a Strong Buy, sixteen as Buy, three as Hold, and one as Sell. According to data from MarketBeat, Ralph Lauren holds an average rating of “Moderate Buy” with a consensus price target of $347.13.
Founded in 1967, Ralph Lauren Corporation designs, markets, and distributes lifestyle products globally, encompassing apparel, footwear, accessories, home products, and fragrances. The company continues to expand its influence across North America, Europe, Asia, and other international markets, making it a key player in the global textile industry.
