Allspring Global Investments Holdings LLC Sells 64 Shares of Ralph Lauren Corporation $RL

Allspring Global Investments Holdings LLC cut its stake in Ralph Lauren Corporation (NYSE:RL) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,777 shares of the textile maker’s stock after selling 64 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ralph Lauren were worth $484,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Banque Transatlantique SA bought a new stake in Ralph Lauren in the first quarter worth $33,000. Brooklyn Investment Group lifted its position in shares of Ralph Lauren by 180.3% during the first quarter. Brooklyn Investment Group now owns 171 shares of the textile maker’s stock worth $38,000 after purchasing an additional 110 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Ralph Lauren during the first quarter worth $39,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Ralph Lauren during the first quarter worth $43,000. Finally, MRP Capital Investments LLC lifted its position in shares of Ralph Lauren by 175.0% during the first quarter. MRP Capital Investments LLC now owns 275 shares of the textile maker’s stock worth $61,000 after purchasing an additional 175 shares during the last quarter. 67.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RL. Jefferies Financial Group lifted their target price on Ralph Lauren from $365.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday. Cfra Research upgraded Ralph Lauren from a “moderate sell” rating to a “hold” rating in a research report on Monday, August 11th. UBS Group lifted their target price on Ralph Lauren from $404.00 to $421.00 and gave the stock a “buy” rating in a research report on Thursday. Cowen restated a “buy” rating on shares of Ralph Lauren in a report on Tuesday, September 30th. Finally, Zacks Research upgraded Ralph Lauren to a “strong-buy” rating in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ralph Lauren currently has an average rating of “Moderate Buy” and an average price target of $336.12.

Ralph Lauren Price Performance

RL opened at $335.19 on Friday. The business’s 50-day moving average is $311.91 and its two-hundred day moving average is $280.96. Ralph Lauren Corporation has a 1 year low of $176.61 and a 1 year high of $341.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.30. The firm has a market capitalization of $20.30 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.67 and a beta of 1.61.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.27. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the firm earned $2.70 earnings per share. The company’s revenue was up 13.7% on a year-over-year basis. Research analysts anticipate that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were paid a dividend of $0.9125 per share. The ex-dividend date was Friday, September 26th. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.1%. Ralph Lauren’s payout ratio is presently 29.15%.

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.