Ethic Inc. Trims Stock Position in Ralph Lauren Corporation $RL

Ethic Inc. decreased its position in Ralph Lauren Corporation (NYSE:RL) by 61.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,705 shares of the textile maker’s stock after selling 2,709 shares during the period. Ethic Inc.’s holdings in Ralph Lauren were worth $471,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in Ralph Lauren by 22.3% in the first quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker’s stock valued at $333,958,000 after buying an additional 275,391 shares in the last quarter. AQR Capital Management LLC increased its holdings in 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 valued at $245,468,000 after buying an additional 414,275 shares in the last quarter. Jennison Associates LLC increased its holdings in Ralph Lauren by 16.5% in the first quarter. Jennison Associates LLC now owns 565,687 shares of the textile maker’s stock valued at $124,870,000 after buying an additional 79,934 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Ralph Lauren by 118.3% in the second quarter. Allianz Asset Management GmbH now owns 388,138 shares of the textile maker’s stock valued at $106,458,000 after buying an additional 210,343 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in Ralph Lauren by 7.0% in the second quarter. Truist Financial Corp now owns 322,020 shares of the textile maker’s stock valued at $88,324,000 after buying an additional 21,183 shares in the last quarter. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RL. Evercore ISI lifted their price objective on shares of Ralph Lauren from $320.00 to $335.00 and gave the company an “outperform” rating in a report on Monday, August 4th. 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 research note on Friday, September 12th. Barclays cut their target price on shares of Ralph Lauren from $353.00 to $352.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. Wall Street Zen raised shares of Ralph Lauren from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Finally, Cowen reissued a “buy” rating on shares of Ralph Lauren in a research note on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ralph Lauren currently has a consensus rating of “Moderate Buy” and an average target price of $336.12.

Ralph Lauren Stock Performance

RL opened at $331.35 on Wednesday. The firm has a market capitalization of $20.07 billion, a PE ratio of 26.47, a PEG ratio of 1.68 and a beta of 1.61. Ralph Lauren Corporation has a twelve month low of $176.61 and a twelve month high of $341.90. The firm’s 50-day moving average price is $313.80 and its 200 day moving average price is $284.03. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58.

Ralph Lauren (NYSE:RL) last posted 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. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.65 billion. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. Ralph Lauren’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.70 earnings per share. As a group, sell-side analysts expect that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were given 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 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.