King Luther Capital Management Corp Takes $18.94 Million Position in Ralph Lauren Co. (NYSE:RL)

King Luther Capital Management Corp purchased a new position in Ralph Lauren Co. (NYSE:RL) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 131,373 shares of the textile maker’s stock, valued at approximately $18,944,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RL. Financial Gravity Asset Management Inc. increased its holdings in Ralph Lauren by 99.2% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 245 shares of the textile maker’s stock worth $28,000 after purchasing an additional 122 shares during the period. Spire Wealth Management increased its holdings in Ralph Lauren by 47.9% during the 3rd quarter. Spire Wealth Management now owns 315 shares of the textile maker’s stock worth $37,000 after purchasing an additional 102 shares during the period. GAMMA Investing LLC purchased a new position in Ralph Lauren during the 4th quarter worth $45,000. Headlands Technologies LLC purchased a new position in Ralph Lauren during the 3rd quarter worth $46,000. Finally, Larson Financial Group LLC purchased a new position in Ralph Lauren during the 3rd quarter worth $87,000. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Ralph Lauren Stock Performance

Shares of NYSE RL traded down $2.86 during trading on Wednesday, reaching $165.14. 581,481 shares of the company traded hands, compared to its average volume of 956,111. The firm’s fifty day simple moving average is $171.49 and its 200 day simple moving average is $155.94. The stock has a market cap of $10.56 billion, a P/E ratio of 19.05, a PEG ratio of 0.96 and a beta of 1.55. Ralph Lauren Co. has a 12-month low of $103.17 and a 12-month high of $192.03. The company has a current ratio of 2.17, a quick ratio of 1.54 and a debt-to-equity ratio of 0.55.

Ralph Lauren Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were paid a $0.75 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.00 annualized dividend and a dividend yield of 1.82%. Ralph Lauren’s dividend payout ratio is presently 34.01%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Ralph Lauren from $160.00 to $185.00 and gave the company an “equal weight” rating in a report on Monday, March 4th. Raymond James lifted their price target on Ralph Lauren from $135.00 to $154.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. TD Cowen lifted their price target on Ralph Lauren from $192.00 to $197.00 and gave the company a “buy” rating in a report on Thursday, May 9th. The Goldman Sachs Group lifted their price target on Ralph Lauren from $132.00 to $151.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Jefferies Financial Group assumed coverage on Ralph Lauren in a report on Tuesday, April 30th. They issued a “buy” rating and a $195.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $168.08.

About Ralph Lauren

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.