Lord Abbett & CO. LLC Invests $94.83 Million in Ralph Lauren Co. (NYSE:RL)

Lord Abbett & CO. LLC acquired a new stake in shares of Ralph Lauren Co. (NYSE:RL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 489,147 shares of the textile maker’s stock, valued at approximately $94,831,000. Lord Abbett & CO. LLC owned 0.79% of Ralph Lauren as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of RL. Pacer Advisors Inc. boosted its holdings in shares of Ralph Lauren by 13.7% during the third quarter. Pacer Advisors Inc. now owns 1,139,975 shares of the textile maker’s stock worth $221,007,000 after purchasing an additional 137,631 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Ralph Lauren by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 949,512 shares of the textile maker’s stock valued at $183,787,000 after acquiring an additional 30,694 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Ralph Lauren by 158.1% in the second quarter. AQR Capital Management LLC now owns 863,336 shares of the textile maker’s stock worth $149,478,000 after acquiring an additional 528,778 shares during the last quarter. Holocene Advisors LP grew its holdings in Ralph Lauren by 10.2% in the third quarter. Holocene Advisors LP now owns 839,296 shares of the textile maker’s stock valued at $162,714,000 after purchasing an additional 78,008 shares during the period. Finally, Acadian Asset Management LLC increased its position in Ralph Lauren by 42.2% during the second quarter. Acadian Asset Management LLC now owns 638,502 shares of the textile maker’s stock worth $111,760,000 after purchasing an additional 189,600 shares during the last quarter. Institutional investors and hedge funds own 67.91% of the company’s stock.

Ralph Lauren Price Performance

RL opened at $227.47 on Friday. Ralph Lauren Co. has a twelve month low of $134.90 and a twelve month high of $237.16. The company has a current ratio of 1.72, a quick ratio of 1.18 and a debt-to-equity ratio of 0.40. The firm has a market cap of $14.13 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 1.69 and a beta of 1.50. The company has a fifty day simple moving average of $211.34 and a 200 day simple moving average of $188.48.

Ralph Lauren (NYSE:RL) last announced its earnings results on Thursday, November 7th. The textile maker reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.11. The company had revenue of $1.73 billion during 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 company’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $2.10 earnings per share. Equities research analysts expect that Ralph Lauren Co. will post 11.71 EPS for the current fiscal year.

Ralph Lauren Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.45%. Ralph Lauren’s dividend payout ratio (DPR) is currently 31.46%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Guggenheim upped their price objective on Ralph Lauren from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $207.00 price objective on shares of Ralph Lauren in a research note on Thursday, November 7th. Barclays increased their target price on shares of Ralph Lauren from $200.00 to $257.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Cfra set a $171.00 price target on shares of Ralph Lauren in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group increased their price objective on shares of Ralph Lauren from $171.00 to $193.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.