Absher Wealth Management LLC Has $29.37 Million Stock Holdings in Ralph Lauren Co. (NYSE:RL)

Absher Wealth Management LLC increased its position in Ralph Lauren Co. (NYSE:RL) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 151,494 shares of the textile maker’s stock after purchasing an additional 3,708 shares during the quarter. Ralph Lauren makes up 3.8% of Absher Wealth Management LLC’s portfolio, making the stock its 11th biggest position. Absher Wealth Management LLC owned 0.24% of Ralph Lauren worth $29,370,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RL. QRG Capital Management Inc. boosted its holdings in Ralph Lauren by 2.8% during the first quarter. QRG Capital Management Inc. now owns 2,378 shares of the textile maker’s stock worth $447,000 after buying an additional 65 shares during the last quarter. GAMMA Investing LLC raised its stake in Ralph Lauren by 11.3% during the 3rd quarter. GAMMA Investing LLC now owns 672 shares of the textile maker’s stock worth $130,000 after buying an additional 68 shares during the period. Oak Thistle LLC grew its stake in Ralph Lauren by 6.2% in the second quarter. Oak Thistle LLC now owns 1,236 shares of the textile maker’s stock valued at $216,000 after acquiring an additional 72 shares during the period. Mather Group LLC. increased its holdings in shares of Ralph Lauren by 26.3% in the second quarter. Mather Group LLC. now owns 432 shares of the textile maker’s stock worth $81,000 after acquiring an additional 90 shares in the last quarter. Finally, Atomi Financial Group Inc. lifted its holdings in shares of Ralph Lauren by 8.4% during the 2nd quarter. Atomi Financial Group Inc. now owns 1,156 shares of the textile maker’s stock valued at $202,000 after purchasing an additional 90 shares in the last quarter. 67.91% of the stock is owned by institutional investors.

Ralph Lauren Stock Down 1.2 %

Shares of Ralph Lauren stock traded down $2.44 on Friday, reaching $195.49. 79,627 shares of the company were exchanged, compared to its average volume of 860,126. The company has a current ratio of 2.19, a quick ratio of 1.53 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $187.86 and a 200 day moving average of $177.06. Ralph Lauren Co. has a one year low of $111.30 and a one year high of $207.06. The company has a market capitalization of $12.11 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.65 and a beta of 1.49.

Ralph Lauren (NYSE:RL) last issued its earnings results on Wednesday, August 7th. The textile maker reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.25. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Ralph Lauren had a net margin of 10.27% and a return on equity of 28.79%. Ralph Lauren’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.34 EPS. On average, equities research analysts forecast that Ralph Lauren Co. will post 11.25 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Friday, September 27th. Ralph Lauren’s dividend payout ratio (DPR) is presently 31.82%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RL. TD Cowen raised their target price on shares of Ralph Lauren from $193.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. StockNews.com lowered shares of Ralph Lauren from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Wells Fargo & Company upped their target price on shares of Ralph Lauren from $195.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Telsey Advisory Group restated an “outperform” rating and issued a $207.00 price target on shares of Ralph Lauren in a report on Thursday, September 26th. Finally, Guggenheim increased their price objective on Ralph Lauren from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $194.36.

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.