Voya Investment Management LLC Cuts Stake in Ralph Lauren Corporation $RL

Voya Investment Management LLC lessened its stake in shares of Ralph Lauren Corporation (NYSE:RL) by 22.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,844 shares of the textile maker’s stock after selling 10,358 shares during the period. Voya Investment Management LLC owned about 0.06% of Ralph Lauren worth $10,926,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of Ralph Lauren by 13.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,007,745 shares of the textile maker’s stock worth $276,407,000 after purchasing an additional 117,494 shares during the period. BNP Paribas Financial Markets grew its holdings in Ralph Lauren by 31.5% during the first quarter. BNP Paribas Financial Markets now owns 171,141 shares of the textile maker’s stock valued at $37,778,000 after purchasing an additional 40,977 shares during the period. Signal Advisors Wealth LLC purchased a new stake in Ralph Lauren in the second quarter worth $309,000. Entropy Technologies LP purchased a new stake in Ralph Lauren in the second quarter worth $3,902,000. Finally, Wealthfront Advisers LLC bought a new stake in shares of Ralph Lauren in the second quarter valued at $286,000. Institutional investors own 67.91% of the company’s stock.

Ralph Lauren Price Performance

Ralph Lauren stock opened at $362.42 on Wednesday. The stock has a market cap of $21.98 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.79 and a beta of 1.52. The company has a quick ratio of 1.35, a current ratio of 2.04 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $343.89 and a 200 day simple moving average of $312.37. Ralph Lauren Corporation has a 52 week low of $176.61 and a 52 week high of $380.00.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings data on Thursday, November 6th. The textile maker reported $3.79 EPS for the quarter, topping the consensus estimate of $3.45 by $0.34. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.88 billion. Ralph Lauren had a return on equity of 36.18% and a net margin of 11.28%.Ralph Lauren’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.54 earnings per share. On average, research analysts forecast that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 26th will be given a $0.9125 dividend. The ex-dividend date is Friday, December 26th. This represents a $3.65 annualized dividend and a yield of 1.0%. Ralph Lauren’s payout ratio is 26.98%.

Analysts Set New Price Targets

RL has been the subject of several recent research reports. Telsey Advisory Group reissued an “outperform” rating and issued a $435.00 price objective on shares of Ralph Lauren in a report on Wednesday, December 17th. BTIG Research assumed coverage on shares of Ralph Lauren in a research note on Tuesday, October 14th. They set a “buy” rating and a $400.00 price target on the stock. TD Cowen raised their price objective on shares of Ralph Lauren from $354.00 to $399.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Guggenheim assumed coverage on Ralph Lauren in a report on Tuesday, December 9th. They issued a “neutral” rating for the company. Finally, Barclays lifted their price target on Ralph Lauren from $352.00 to $358.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ralph Lauren currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.44.

Ralph Lauren Company Profile

Ralph Lauren Corporation (NYSE: RL) is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men’s neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren’s product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.