Amalgamated Bank Has $1.69 Million Stake in Ralph Lauren Corporation (NYSE:RL)

Amalgamated Bank trimmed its stake in shares of Ralph Lauren Corporation (NYSE:RL) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,661 shares of the textile maker’s stock after selling 56 shares during the period. Amalgamated Bank’s holdings in Ralph Lauren were worth $1,691,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its position in shares of Ralph Lauren by 93.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Ralph Lauren by 17.6% during the first quarter. Blue Trust Inc. now owns 415 shares of the textile maker’s stock worth $92,000 after buying an additional 62 shares during the last quarter. TD Private Client Wealth LLC raised its stake in shares of Ralph Lauren by 19.6% during the fourth quarter. TD Private Client Wealth LLC now owns 446 shares of the textile maker’s stock worth $103,000 after buying an additional 73 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Ralph Lauren by 28.0% during the fourth quarter. True Wealth Design LLC now owns 347 shares of the textile maker’s stock worth $80,000 after buying an additional 76 shares during the last quarter. Finally, Twin Capital Management Inc. raised its stake in shares of Ralph Lauren by 1.5% during the fourth quarter. Twin Capital Management Inc. now owns 5,659 shares of the textile maker’s stock worth $1,307,000 after buying an additional 85 shares during the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RL has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price target on shares of Ralph Lauren from $250.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Cowen reaffirmed a “buy” rating on shares of Ralph Lauren in a research note on Thursday, May 22nd. Wall Street Zen downgraded shares of Ralph Lauren from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Bank of America upped their target price on shares of Ralph Lauren from $318.00 to $328.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $310.00 target price on shares of Ralph Lauren in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $292.88.

Ralph Lauren Stock Performance

Shares of RL opened at $279.52 on Monday. The stock has a market capitalization of $16.86 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 2.13 and a beta of 1.49. The company has a current ratio of 1.78, a quick ratio of 1.33 and a debt-to-equity ratio of 0.38. The firm has a fifty day simple moving average of $265.51 and a 200 day simple moving average of $246.85. Ralph Lauren Corporation has a 12 month low of $155.96 and a 12 month high of $289.33.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Thursday, May 22nd. The textile maker reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.27. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Ralph Lauren had a net margin of 10.49% and a return on equity of 31.76%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.71 earnings per share. Research analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren declared that its board has approved a share repurchase program on Thursday, May 22nd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the textile maker to repurchase up to 8.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Ralph Lauren Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a $0.9125 dividend. The ex-dividend date of this dividend is Friday, June 27th. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.83. This represents a $3.65 annualized dividend and a dividend yield of 1.31%. Ralph Lauren’s dividend payout ratio is presently 31.44%.

Ralph Lauren Profile

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.