HB Wealth Management LLC Decreases Position in Ralph Lauren Corporation $RL

HB Wealth Management LLC reduced its position in Ralph Lauren Corporation (NYSE:RL) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,999 shares of the textile maker’s stock after selling 135 shares during the quarter. HB Wealth Management LLC’s holdings in Ralph Lauren were worth $548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of RL. AQR Capital Management LLC boosted its position in shares of Ralph Lauren by 55.7% in the first quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker’s stock worth $245,468,000 after purchasing an additional 414,275 shares during the period. Invesco Ltd. boosted its position in shares of Ralph Lauren by 22.3% in the first quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker’s stock worth $333,958,000 after purchasing an additional 275,391 shares during the period. Wedge Capital Management L L P NC bought a new position in shares of Ralph Lauren in the first quarter worth approximately $37,517,000. Trexquant Investment LP boosted its position in shares of Ralph Lauren by 509.5% in the first quarter. Trexquant Investment LP now owns 158,062 shares of the textile maker’s stock worth $34,891,000 after purchasing an additional 132,128 shares during the period. Finally, Jump Financial LLC boosted its position in shares of Ralph Lauren by 8,741.2% in the first quarter. Jump Financial LLC now owns 123,600 shares of the textile maker’s stock worth $27,283,000 after purchasing an additional 122,202 shares during the period. 67.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RL shares. Evercore ISI upped their price target on shares of Ralph Lauren from $320.00 to $335.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. UBS Group boosted their target price on shares of Ralph Lauren from $385.00 to $404.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Needham & Company LLC boosted their target price on shares of Ralph Lauren from $335.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Jefferies Financial Group boosted their target price on shares of Ralph Lauren from $325.00 to $365.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Finally, Cowen reissued a “buy” rating on shares of Ralph Lauren in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $320.53.

Ralph Lauren Trading Down 0.1%

Shares of RL opened at $322.06 on Friday. Ralph Lauren Corporation has a twelve month low of $176.61 and a twelve month high of $325.81. The company has a market cap of $19.51 billion, a P/E ratio of 25.72, a P/E/G ratio of 1.62 and a beta of 1.61. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $303.22 and its 200-day simple moving average is $270.11.

Ralph Lauren (NYSE:RL) last announced its earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.27. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm posted $2.70 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, analysts expect that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a $0.9125 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.65 annualized dividend and a dividend yield of 1.1%. Ralph Lauren’s dividend payout ratio is currently 29.15%.

About Ralph Lauren

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.