Trinity Street Asset Management LLP Cuts Holdings in Ralph Lauren Co. (NYSE:RL)

Trinity Street Asset Management LLP cut its holdings in Ralph Lauren Co. (NYSE:RL) by 43.5% in the third quarter, HoldingsChannel reports. The firm owned 68,752 shares of the textile maker’s stock after selling 52,982 shares during the quarter. Ralph Lauren accounts for 1.3% of Trinity Street Asset Management LLP’s portfolio, making the stock its 15th largest position. Trinity Street Asset Management LLP’s holdings in Ralph Lauren were worth $13,329,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RL. Family Firm Inc. purchased a new position in shares of Ralph Lauren during the second quarter valued at approximately $30,000. Gladius Capital Management LP acquired a new position in Ralph Lauren during the 2nd quarter valued at approximately $31,000. Fidelis Capital Partners LLC acquired a new stake in shares of Ralph Lauren during the first quarter worth $42,000. Versant Capital Management Inc grew its stake in Ralph Lauren by 1,775.0% during the 2nd quarter. Versant Capital Management Inc now owns 225 shares of the textile maker’s stock valued at $39,000 after purchasing an additional 213 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in Ralph Lauren in the 1st quarter worth approximately $63,000. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Ralph Lauren Price Performance

RL stock traded up $0.80 during midday trading on Tuesday, hitting $203.83. 56,725 shares of the stock were exchanged, compared to its average volume of 865,414. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.53 and a current ratio of 2.19. The stock’s 50-day moving average price is $186.50 and its 200-day moving average price is $176.58. Ralph Lauren Co. has a fifty-two week low of $109.94 and a fifty-two week high of $207.06. The stock has a market cap of $12.63 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 1.62 and a beta of 1.49.

Ralph Lauren (NYSE:RL) last released 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. Ralph Lauren had a net margin of 10.27% and a return on equity of 28.79%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the firm earned $2.34 earnings per share. Ralph Lauren’s revenue was up 1.0% compared to the same quarter last year. Research analysts predict that Ralph Lauren Co. will post 11.25 earnings per share for the current year.

Ralph Lauren Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Friday, September 27th. Ralph Lauren’s payout ratio is currently 31.82%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays raised their price objective on shares of Ralph Lauren from $195.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Wells Fargo & Company lifted their price objective on Ralph Lauren from $195.00 to $205.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Cfra set a $171.00 target price on shares of Ralph Lauren in a report on Thursday, October 17th. Argus restated a “hold” rating on shares of Ralph Lauren in a research report on Tuesday, July 2nd. Finally, The Goldman Sachs Group lifted their price target on Ralph Lauren from $171.00 to $193.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Ralph Lauren has an average rating of “Moderate Buy” and a consensus 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.