New York State Common Retirement Fund Has $9.90 Million Position in Ralph Lauren Corporation $RL

New York State Common Retirement Fund cut its stake in Ralph Lauren Corporation (NYSE:RL) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,560 shares of the textile maker’s stock after selling 1,800 shares during the period. New York State Common Retirement Fund owned approximately 0.05% of Ralph Lauren worth $9,896,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Wedmont Private Capital increased its position in shares of Ralph Lauren by 3.1% in the third quarter. Wedmont Private Capital now owns 1,114 shares of the textile maker’s stock worth $362,000 after purchasing an additional 34 shares during the period. TD Private Client Wealth LLC lifted its position in Ralph Lauren by 5.6% during the third quarter. TD Private Client Wealth LLC now owns 733 shares of the textile maker’s stock worth $230,000 after purchasing an additional 39 shares during the period. Bank of New Hampshire grew its stake in Ralph Lauren by 0.4% during the third quarter. Bank of New Hampshire now owns 9,483 shares of the textile maker’s stock worth $2,973,000 after buying an additional 41 shares in the last quarter. Optas LLC increased its holdings in Ralph Lauren by 5.4% in the 3rd quarter. Optas LLC now owns 813 shares of the textile maker’s stock valued at $255,000 after buying an additional 42 shares during the period. Finally, Coldstream Capital Management Inc. raised its position in shares of Ralph Lauren by 6.3% in the 2nd quarter. Coldstream Capital Management Inc. now owns 806 shares of the textile maker’s stock valued at $221,000 after buying an additional 48 shares in the last quarter. 67.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on RL shares. Guggenheim assumed coverage on shares of Ralph Lauren in a report on Tuesday, December 9th. They set a “neutral” rating for the company. BTIG Research began coverage on shares of Ralph Lauren in a research report on Tuesday, October 14th. They set a “buy” rating and a $400.00 price objective for the company. Barclays restated an “overweight” rating and set a $409.00 target price on shares of Ralph Lauren in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ralph Lauren in a research note on Thursday, January 22nd. Finally, Evercore ISI boosted their price target on Ralph Lauren from $385.00 to $415.00 and gave the stock an “outperform” rating in a report on Monday. Fifteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.71.

Ralph Lauren Stock Down 0.7%

Shares of RL opened at $354.03 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.35 and a current ratio of 2.04. Ralph Lauren Corporation has a 52 week low of $176.61 and a 52 week high of $380.00. The stock has a market capitalization of $21.47 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.58 and a beta of 1.49. The stock has a fifty day moving average of $362.34 and a 200-day moving average of $330.20.

Ralph Lauren (NYSE:RL) last issued its earnings results on Thursday, November 6th. The textile maker reported $3.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.45 by $0.34. Ralph Lauren had a return on equity of 36.18% and a net margin of 11.28%.The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the firm earned $2.54 EPS. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, sell-side 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 announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given a dividend of $0.9125 per share. The ex-dividend date was Friday, December 26th. This represents a $3.65 annualized dividend and a yield of 1.0%. Ralph Lauren’s dividend payout ratio (DPR) is currently 26.98%.

About Ralph Lauren

Ralph Lauren Corporation (NYSE: RL) is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men’s neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren’s product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.