Allspring Global Investments Holdings LLC has announced an increase in its position in Ralph Lauren Co. (NYSE:RL) by 104.9%, according to the company’s recent Form 13F filing with the Securities & Exchange Commission. The firm now owns a total of 5,219 shares of the textile maker’s stock after acquiring an additional 2,672 shares during the last quarter, with holdings worth $551,000.
Ralph Lauren last released quarterly earnings data on Thursday, February 9th showing $3.35 earnings per share for the quarter; $0.44 more than what was anticipated by experts. The company had a net margin of 8.01% and a return on equity of 22.88%, with revenue reaching $1.83 billion compared to analysts’ predictions of $1.76 billion.
The market has reacted positively towards Ralph Lauren since this announcement which now sees its average target price reaching $126.57 with a consensus rating of “Moderate Buy” from eleven analysts who have given it buy or hold ratings, while two other analysts have given it sell ratings.
Credit Suisse Group also upped their target price on Ralph Lauren from $115 to $135 as well as gave it an “outperform” rating in a research report released Friday, February 10th.
Allspring Global Investments Holdings’ decision to increase its position in Ralph Lauren signals that investors are optimistic about future growth within the fashion brand over the next year and in response more investors are likely to follow suit as they seek long term sustainable investments with potential high returns – but only time will tell how worthwhile this strategy is in reality for all those involved.
Ralph Lauren: A Strong Investment Choice for Luxury Brand Investors
Ralph Lauren: A Strong Investment Choice
The renowned textile maker, Ralph Lauren, has recently seen a surge in investment from hedge funds and institutional investors. AdvisorNet Financial Inc purchased a new position worth $25,000 in the company during Q3 2020. On the other hand, Ronald Blue Trust Inc. raised its shares by 125.5% during Q4 of last year, holding 433 shares valued at $36,000 after acquiring an additional 241 shares. Similarly, South Dakota Investment Council acquired a new stake during Q3 of last year worth approximately $51,000 while Ameliora Wealth Management Ltd purchased shares valued at approximately $68,000.
Most recent to join the buying spree is Covestor Ltd., which raised its holdings by 89.6% during Q1 of this year and now owns 916 shares valued at $104,000 after acquiring an additional 433 shares.
The trend shows that 66.09% of the stock is owned by institutional investors and hedge funds.
Shares for Ralph Lauren opened at $118.04 on Tuesday with a market capitalization of $7.79 billion and P/E ratio of 15.84. The stock has witnessed growth over the past year starting from a low of $82.23 to reach its current high at $128.94.
Ralph Laurent Co has been the focus of research reports lately attempting to weigh its strength as an investment option- two analysts rated it “sell,” two “hold,” while nine gave it a “buy” rating, prompting Bloomberg data to award the company with an average consensus rating of “Moderate Buy” with an average target price estimated at $126.57 per share.
Additionally, apart from being attractive for long-term investments due to potential growth prospects in the luxury goods market along with worldwide shifting consumer trends towards premium products-Ralph Lauren announced quarterly dividends thus returning value to its shareholders who received a $0.75 dividend on Friday, April 14th. The ex-dividend date was March 30th, while shareholders of record as of March 31st were eligible for the payout.
In summary, investors looking to tap into growth opportunities of traditional luxury brands ventures may find Ralph Lauren a compelling investment option, backed by its consistent performance and potential prospects in the near future.
