QRG Capital Management Inc. Sells 2,828 Shares of Ralph Lauren Corporation $RL

QRG Capital Management Inc. reduced its position in shares of Ralph Lauren Corporation (NYSE:RL) by 76.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 891 shares of the textile maker’s stock after selling 2,828 shares during the quarter. QRG Capital Management Inc.’s holdings in Ralph Lauren were worth $279,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Orion Porfolio Solutions LLC raised its stake in Ralph Lauren by 8,937.8% during the second quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock valued at $264,225,000 after purchasing an additional 952,681 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Ralph Lauren by 118.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 388,138 shares of the textile maker’s stock worth $106,458,000 after buying an additional 210,343 shares during the last quarter. Qube Research & Technologies Ltd raised its position in shares of Ralph Lauren by 26.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 843,321 shares of the textile maker’s stock valued at $231,306,000 after buying an additional 174,847 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Ralph Lauren by 116.6% during the 2nd quarter. Fisher Asset Management LLC now owns 267,742 shares of the textile maker’s stock valued at $73,436,000 after buying an additional 144,155 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Ralph Lauren by 13.2% in the second quarter. JPMorgan Chase & Co. now owns 1,007,745 shares of the textile maker’s stock worth $276,407,000 after acquiring an additional 117,494 shares in the last quarter. 67.91% of the stock is owned by hedge funds and other institutional investors.

Ralph Lauren Trading Up 0.9%

Shares of NYSE RL opened at $367.12 on Friday. Ralph Lauren Corporation has a 1-year low of $176.61 and a 1-year high of $380.00. The business has a fifty day moving average price of $359.84 and a 200 day moving average price of $326.59. The stock has a market capitalization of $22.26 billion, a P/E ratio of 27.13, a price-to-earnings-growth ratio of 1.64 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.04 and a quick ratio of 1.35.

Ralph Lauren (NYSE:RL) last posted its earnings results on Thursday, November 6th. The textile maker reported $3.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.34. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.88 billion. Ralph Lauren had a return on equity of 36.18% and a net margin of 11.28%.The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.54 earnings per share. Equities research analysts expect that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were paid a dividend of $0.9125 per share. This represents a $3.65 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, December 26th. Ralph Lauren’s payout ratio is 26.98%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Guggenheim initiated coverage on Ralph Lauren in a report on Tuesday, December 9th. They set a “neutral” rating on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Ralph Lauren in a research note on Thursday. Jefferies Financial Group began coverage on shares of Ralph Lauren in a research note on Wednesday, January 14th. They set a “buy” rating and a $425.00 price target for the company. Deutsche Bank Aktiengesellschaft set a $422.00 price objective on shares of Ralph Lauren in a research report on Thursday, January 8th. Finally, UBS Group lifted their target price on Ralph Lauren from $435.00 to $473.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Fifteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ralph Lauren has an average rating of “Moderate Buy” and an average price target of $375.29.

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.