Ralph Lauren Corporation $RL Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its stake in shares of Ralph Lauren Corporation (NYSE:RL) by 15.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 29,396 shares of the textile maker’s stock after selling 5,186 shares during the period. Illinois Municipal Retirement Fund’s holdings in Ralph Lauren were worth $10,438,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Ralph Lauren during the second quarter valued at approximately $3,225,000. Public Employees Retirement System of Ohio purchased a new stake in Ralph Lauren in the second quarter worth approximately $11,573,000. Assenagon Asset Management S.A. bought a new stake in Ralph Lauren in the 3rd quarter worth approximately $25,987,000. Wellington Management Group LLP grew its position in Ralph Lauren by 55.5% in the 2nd quarter. Wellington Management Group LLP now owns 476,472 shares of the textile maker’s stock worth $191,261,000 after purchasing an additional 170,091 shares during the period. Finally, Meeder Asset Management Inc. grew its position in Ralph Lauren by 73.1% in the 1st quarter. Meeder Asset Management Inc. now owns 35,025 shares of the textile maker’s stock worth $12,048,000 after purchasing an additional 14,788 shares during the period. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Ralph Lauren Price Performance

Shares of NYSE:RL opened at $394.59 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.97 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $23.51 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 1.74 and a beta of 1.30. The firm’s 50 day moving average price is $367.02 and its 200-day moving average price is $368.21. Ralph Lauren Corporation has a twelve month low of $317.23 and a twelve month high of $421.60.

Ralph Lauren (NYSE:RL) last announced its earnings results on Thursday, November 5th. The textile maker reported $4.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.26 by $0.38. Ralph Lauren had a net margin of 12.56% and a return on equity of 40.22%. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the business posted $3.79 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts expect that Ralph Lauren Corporation will post 19.02 EPS for the current year.

Ralph Lauren Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, September 25th. Ralph Lauren’s dividend payout ratio (DPR) is currently 22.96%.

Analyst Ratings Changes

RL has been the topic of several research analyst reports. Wall Street Zen raised Ralph Lauren from a “hold” rating to a “buy” rating in a report on Saturday, November 7th. Evercore restated an “outperform” rating and issued a $460.00 price target on shares of Ralph Lauren in a research note on Friday, August 7th. JPMorgan Chase & Co. lifted their price objective on Ralph Lauren from $434.00 to $452.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Needham & Company LLC upped their price objective on Ralph Lauren from $405.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Telsey Advisory Group increased their target price on Ralph Lauren from $460.00 to $470.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Sixteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $448.20.

Ralph Lauren Company Profile

Ralph Lauren Corporation is a global designer, marketer and distributor of premium lifestyle products. Founded by Ralph Lauren in 1967 with a collection of men’s ties, the company has grown into a fashion and lifestyle business built around its namesake brand and Polo Ralph Lauren. Its products include apparel, footwear, accessories, fragrances and home furnishings. The company sells through department stores and other wholesale partners, as well as its own retail stores and e-commerce channels, and also licenses its brands for selected products and services.