Ralph Lauren Corporation $RL Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its stake in Ralph Lauren Corporation (NYSE:RL) by 20.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,579 shares of the textile maker’s stock after selling 18,659 shares during the quarter. Legal & General Group Plc owned 0.12% of Ralph Lauren worth $24,957,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RL. Aventura Private Wealth LLC acquired a new stake in shares of Ralph Lauren in the 4th quarter worth approximately $29,000. JPL Wealth Management LLC purchased a new stake in Ralph Lauren during the third quarter worth $27,000. Rothschild Investment LLC boosted its position in Ralph Lauren by 61.3% during the third quarter. Rothschild Investment LLC now owns 100 shares of the textile maker’s stock worth $31,000 after purchasing an additional 38 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Ralph Lauren in the fourth quarter valued at $35,000. Finally, Elevated Capital Advisors LLC acquired a new stake in Ralph Lauren in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on RL shares. Citigroup upgraded Ralph Lauren from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $360.00 to $400.00 in a research report on Tuesday, March 24th. Barclays raised their price target on Ralph Lauren from $430.00 to $439.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Telsey Advisory Group restated an “outperform” rating and issued a $435.00 price objective on shares of Ralph Lauren in a research report on Thursday, February 5th. Evercore set a $420.00 price objective on Ralph Lauren and gave the company an “outperform” rating in a research note on Friday, February 6th. Finally, BTIG Research reiterated a “buy” rating and set a $450.00 price objective on shares of Ralph Lauren in a research report on Friday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $428.29.

Ralph Lauren Trading Up 0.1%

Shares of Ralph Lauren stock opened at $364.14 on Monday. Ralph Lauren Corporation has a fifty-two week low of $258.13 and a fifty-two week high of $393.41. The business’s fifty day moving average is $357.54 and its two-hundred day moving average is $357.46. The company has a quick ratio of 1.57, a current ratio of 2.13 and a debt-to-equity ratio of 0.51. The firm has a market cap of $21.67 billion, a PE ratio of 24.10, a P/E/G ratio of 1.82 and a beta of 1.35.

Ralph Lauren (NYSE:RL) last released its earnings results on Thursday, May 21st. The textile maker reported $2.80 EPS for the quarter, beating the consensus estimate of $2.52 by $0.28. Ralph Lauren had a return on equity of 38.17% and a net margin of 11.60%.The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the firm posted $2.27 earnings per share. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. Analysts anticipate that Ralph Lauren Corporation will post 18.22 earnings per share for the current year.

Ralph Lauren Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be paid a dividend of $1.00 per share. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, June 26th. Ralph Lauren’s payout ratio is 24.16%.

Ralph Lauren Profile

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.