Procyon Advisors LLC Sells 2,556 Shares of Ralph Lauren Corporation $RL

Procyon Advisors LLC decreased its position in shares of Ralph Lauren Corporation (NYSE:RL) by 34.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,933 shares of the textile maker’s stock after selling 2,556 shares during the quarter. Procyon Advisors LLC’s holdings in Ralph Lauren were worth $1,353,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RL. Aaron Wealth Advisors LLC raised its stake in Ralph Lauren by 36.0% during the second quarter. Aaron Wealth Advisors LLC now owns 1,545 shares of the textile maker’s stock worth $424,000 after buying an additional 409 shares during the last quarter. Westmount Partners LLC acquired a new stake in Ralph Lauren during the 2nd quarter worth about $220,000. Czech National Bank raised its position in shares of Ralph Lauren by 6.4% in the 2nd quarter. Czech National Bank now owns 9,748 shares of the textile maker’s stock worth $2,674,000 after acquiring an additional 588 shares in the last quarter. Kera Capital Partners Inc. lifted its stake in shares of Ralph Lauren by 44.3% in the 2nd quarter. Kera Capital Partners Inc. now owns 1,631 shares of the textile maker’s stock valued at $447,000 after purchasing an additional 501 shares during the period. Finally, Private Client Services LLC acquired a new position in shares of Ralph Lauren in the 2nd quarter valued at about $974,000. 67.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Citigroup lifted their target price on Ralph Lauren from $250.00 to $295.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. Cowen reiterated a “buy” rating on shares of Ralph Lauren in a research note on Thursday, May 22nd. The Goldman Sachs Group increased their target price on shares of Ralph Lauren from $262.00 to $324.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Evercore ISI raised their price target on shares of Ralph Lauren from $320.00 to $335.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Finally, Barclays dropped their price objective on shares of Ralph Lauren from $360.00 to $353.00 and set an “overweight” rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ralph Lauren currently has an average rating of “Moderate Buy” and an average target price of $311.41.

Ralph Lauren Stock Down 2.7%

Shares of NYSE RL opened at $306.09 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.30. The company has a 50-day moving average price of $297.70 and a 200-day moving average price of $263.03. The stock has a market capitalization of $18.54 billion, a P/E ratio of 24.45, a P/E/G ratio of 1.59 and a beta of 1.60. Ralph Lauren Corporation has a 1 year low of $176.61 and a 1 year high of $321.77.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.27. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.70 EPS. On average, equities research analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.9125 per share. The ex-dividend date is Friday, September 26th. This represents a $3.65 annualized dividend and a yield of 1.2%. Ralph Lauren’s dividend payout ratio (DPR) is 29.15%.

Ralph Lauren announced that its board has initiated a stock buyback program on Thursday, May 22nd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the textile maker to buy up to 8.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Ralph Lauren 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.