Jupiter Asset Management Ltd. Trims Stake in Ralph Lauren Corporation $RL

Jupiter Asset Management Ltd. lessened its position in Ralph Lauren Corporation (NYSE:RL) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 223,538 shares of the textile maker’s stock after selling 15,145 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.37% of Ralph Lauren worth $79,045,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. JPL Wealth Management LLC purchased a new position in Ralph Lauren during the third quarter valued at $27,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Ralph Lauren in the 2nd quarter worth about $28,000. Aventura Private Wealth LLC purchased a new stake in shares of Ralph Lauren in the 4th quarter worth about $29,000. Rothschild Investment LLC increased its stake in shares of Ralph Lauren by 61.3% in the 3rd quarter. Rothschild Investment LLC now owns 100 shares of the textile maker’s stock worth $31,000 after acquiring an additional 38 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new position in shares of Ralph Lauren during the second quarter valued at approximately $32,000. 67.91% of the stock is currently owned by institutional investors.

Ralph Lauren Stock Performance

Shares of NYSE RL opened at $371.35 on Friday. The company has a market cap of $22.48 billion, a P/E ratio of 24.58, a P/E/G ratio of 1.88 and a beta of 1.37. The firm’s fifty day moving average is $357.10 and its two-hundred day moving average is $357.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.57 and a current ratio of 2.13. Ralph Lauren Corporation has a 52-week low of $258.13 and a 52-week high of $393.41.

Ralph Lauren (NYSE:RL) last announced its earnings results on Thursday, May 21st. The textile maker reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.28. Ralph Lauren had a return on equity of 38.17% and a net margin of 11.60%.The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the business earned $2.27 EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, analysts anticipate that Ralph Lauren Corporation will post 18.22 EPS for the current fiscal year.

Ralph Lauren Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, June 26th. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.91. Ralph Lauren’s dividend payout ratio is currently 24.16%.

Analyst Ratings Changes

RL has been the subject of several recent analyst reports. Weiss Ratings cut shares of Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 15th. BTIG Research reaffirmed a “buy” rating and set a $450.00 price objective on shares of Ralph Lauren in a research report on Friday, May 22nd. Evercore set a $420.00 target price on shares of Ralph Lauren and gave the company an “outperform” rating in a research note on Friday, February 6th. Citigroup upgraded shares of Ralph Lauren from a “neutral” rating to a “buy” rating and increased their price objective for the company from $360.00 to $400.00 in a research report on Tuesday, March 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $437.00 target price on shares of Ralph Lauren in a research report on Friday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $428.29.

Ralph Lauren 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.