Ralph Lauren Corporation $RL Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its position in Ralph Lauren Corporation (NYSE:RL) by 20.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,579 shares of the textile maker’s stock after selling 18,659 shares during the period. Legal & General Group Plc’s holdings in Ralph Lauren were worth $24,957,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Ralph Lauren by 5.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,432 shares of the textile maker’s stock worth $758,000 after acquiring an additional 174 shares in the last quarter. Empowered Funds LLC increased its holdings in Ralph Lauren by 0.9% in the 1st quarter. Empowered Funds LLC now owns 12,334 shares of the textile maker’s stock valued at $2,723,000 after purchasing an additional 114 shares in the last quarter. Woodline Partners LP increased its holdings in Ralph Lauren by 39.5% in the 1st quarter. Woodline Partners LP now owns 3,369 shares of the textile maker’s stock valued at $744,000 after purchasing an additional 954 shares in the last quarter. Focus Partners Wealth raised its position in Ralph Lauren by 29.5% in the first quarter. Focus Partners Wealth now owns 3,812 shares of the textile maker’s stock valued at $841,000 after purchasing an additional 869 shares during the period. Finally, Sivia Capital Partners LLC acquired a new position in shares of Ralph Lauren during the second quarter worth about $386,000. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Ralph Lauren from $400.00 to $415.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Evercore set a $420.00 price target on Ralph Lauren and gave the stock an “outperform” rating in a report on Friday, February 6th. Zacks Research lowered shares of Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. UBS Group boosted their target price on shares of Ralph Lauren from $480.00 to $511.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Finally, Citigroup raised shares of Ralph Lauren from a “neutral” rating to a “buy” rating and raised their price target for the company from $360.00 to $400.00 in a report on Tuesday, March 24th. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Ralph Lauren currently has a consensus rating of “Moderate Buy” and a consensus target price of $428.29.

Ralph Lauren Stock Performance

Shares of RL opened at $364.14 on Monday. The firm has a market cap of $21.67 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 1.82 and a beta of 1.35. The company has a quick ratio of 1.57, a current ratio of 2.13 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $357.54 and its two-hundred day moving average is $357.46. Ralph Lauren Corporation has a 52-week low of $258.13 and a 52-week high of $393.41.

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

Ralph Lauren Increases Dividend

The business 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 dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. Ralph Lauren’s dividend payout ratio is 24.16%.

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.