M&T Bank Corp Has $279,000 Position in Ralph Lauren Corporation (NYSE:RL)

M&T Bank Corp trimmed its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 25.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,266 shares of the textile maker’s stock after selling 426 shares during the quarter. M&T Bank Corp’s holdings in Ralph Lauren were worth $279,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its position in shares of Ralph Lauren by 93.7% in 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 during the last quarter. Blue Trust Inc. grew its stake in shares of Ralph Lauren by 17.6% during the 1st quarter. Blue Trust Inc. now owns 415 shares of the textile maker’s stock valued at $92,000 after purchasing an additional 62 shares during the period. TD Private Client Wealth LLC lifted its holdings in Ralph Lauren by 19.6% in the 4th quarter. TD Private Client Wealth LLC now owns 446 shares of the textile maker’s stock worth $103,000 after purchasing an additional 73 shares in the last quarter. True Wealth Design LLC grew its position in Ralph Lauren by 28.0% in the 4th quarter. True Wealth Design LLC now owns 347 shares of the textile maker’s stock valued at $80,000 after acquiring an additional 76 shares during the last quarter. Finally, Twin Capital Management Inc. boosted its position in Ralph Lauren by 1.5% during the fourth quarter. Twin Capital Management Inc. now owns 5,659 shares of the textile maker’s stock valued at $1,307,000 after purchasing an additional 85 shares in the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on RL. Telsey Advisory Group reiterated an “outperform” rating and set a $315.00 price target on shares of Ralph Lauren in a research report on Wednesday, June 18th. Wall Street Zen downgraded Ralph Lauren from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Needham & Company LLC restated a “buy” rating and set a $310.00 price objective on shares of Ralph Lauren in a research note on Friday, May 23rd. Jefferies Financial Group upped their target price on Ralph Lauren from $250.00 to $328.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Finally, Cowen reiterated a “buy” rating on shares of Ralph Lauren in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Ralph Lauren has an average rating of “Moderate Buy” and a consensus target price of $292.88.

Ralph Lauren Stock Up 0.7%

RL opened at $286.65 on Friday. The company has a market capitalization of $17.29 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.17 and a beta of 1.49. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.78 and a quick ratio of 1.33. The business has a 50-day moving average of $275.32 and a 200-day moving average of $250.11. Ralph Lauren Corporation has a fifty-two week low of $155.96 and a fifty-two week high of $295.52.

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

Ralph Lauren Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a dividend of $0.9125 per share. This represents a $3.65 annualized dividend and a dividend yield of 1.27%. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.83. The ex-dividend date was Friday, June 27th. Ralph Lauren’s dividend payout ratio (DPR) is presently 31.44%.

Ralph Lauren declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 22nd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the textile maker to buy up to 8.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Ralph Lauren Company 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.