Prospera Financial Services Inc Cuts Stock Holdings in Ralph Lauren Corporation $RL

Prospera Financial Services Inc lowered its stake in shares of Ralph Lauren Corporation (NYSE:RL) by 69.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,641 shares of the textile maker’s stock after selling 3,663 shares during the quarter. Prospera Financial Services Inc’s holdings in Ralph Lauren were worth $450,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of RL. Fox Run Management L.L.C. grew its stake in shares of Ralph Lauren by 388.2% in the 2nd quarter. Fox Run Management L.L.C. now owns 15,443 shares of the textile maker’s stock worth $4,236,000 after acquiring an additional 12,280 shares in the last quarter. Metis Global Partners LLC purchased a new position in Ralph Lauren during the second quarter worth about $261,000. Modera Wealth Management LLC boosted its holdings in Ralph Lauren by 5.8% during the second quarter. Modera Wealth Management LLC now owns 1,028 shares of the textile maker’s stock worth $282,000 after purchasing an additional 56 shares during the last quarter. Resona Asset Management Co. Ltd. grew its position in Ralph Lauren by 25.9% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 438 shares of the textile maker’s stock worth $121,000 after purchasing an additional 90 shares in the last quarter. Finally, EFG Asset Management North America Corp. purchased a new stake in Ralph Lauren in the 2nd quarter valued at about $2,289,000. 67.91% of the stock is currently owned by institutional investors.

Ralph Lauren Trading Down 0.4%

Shares of RL opened at $331.53 on Friday. Ralph Lauren Corporation has a fifty-two week low of $176.61 and a fifty-two week high of $342.99. The business has a 50-day moving average of $320.67 and a 200 day moving average of $293.99. The firm has a market cap of $20.08 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 1.63 and a beta of 1.61. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.84.

Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Thursday, November 6th. The textile maker reported $3.79 EPS for the quarter, beating the consensus estimate of $3.45 by $0.34. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.88 billion. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.54 earnings per share. As a group, research analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were issued a $0.9125 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $3.65 annualized dividend and a yield of 1.1%. Ralph Lauren’s dividend payout ratio (DPR) is 26.98%.

Analysts Set New Price Targets

RL has been the topic of a number of research analyst reports. Barclays boosted their target price on Ralph Lauren from $352.00 to $358.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Needham & Company LLC boosted their price objective on Ralph Lauren from $335.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Telsey Advisory Group upped their price objective on Ralph Lauren from $350.00 to $365.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. lifted their target price on Ralph Lauren from $423.00 to $430.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Finally, Jefferies Financial Group increased their price target on shares of Ralph Lauren from $365.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $347.13.

About Ralph Lauren

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.