Assenagon Asset Management S.A. Sells 12,174 Shares of Ralph Lauren Corporation $RL

Assenagon Asset Management S.A. lowered its position in shares of Ralph Lauren Corporation (NYSE:RL) by 95.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 600 shares of the textile maker’s stock after selling 12,174 shares during the period. Assenagon Asset Management S.A.’s holdings in Ralph Lauren were worth $206,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. M&T Bank Corp grew its stake in Ralph Lauren by 6,216.7% in the 4th quarter. M&T Bank Corp now owns 73,337 shares of the textile maker’s stock worth $25,933,000 after buying an additional 72,176 shares in the last quarter. Vest Financial LLC raised its position in shares of Ralph Lauren by 177.9% during the 4th quarter. Vest Financial LLC now owns 54,701 shares of the textile maker’s stock valued at $19,343,000 after buying an additional 35,016 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Ralph Lauren by 28.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 41,688 shares of the textile maker’s stock worth $14,741,000 after acquiring an additional 9,133 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Ralph Lauren by 106.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 63,180 shares of the textile maker’s stock worth $22,552,000 after acquiring an additional 32,622 shares during the last quarter. Finally, Patton Fund Management Inc. grew its position in Ralph Lauren by 2,184.8% in the fourth quarter. Patton Fund Management Inc. now owns 22,848 shares of the textile maker’s stock worth $8,079,000 after acquiring an additional 21,848 shares in the last quarter. Institutional investors own 67.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Zacks Research cut Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Telsey Advisory Group lifted their price target on Ralph Lauren from $435.00 to $460.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Wall Street Zen upgraded Ralph Lauren from a “hold” rating to a “buy” rating in a report on Saturday. 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. Finally, Weiss Ratings cut Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 15th. Fifteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ralph Lauren currently has a consensus rating of “Moderate Buy” and an average price target of $430.07.

Ralph Lauren Stock Down 0.0%

RL stock opened at $398.18 on Friday. Ralph Lauren Corporation has a fifty-two week low of $273.04 and a fifty-two week high of $421.60. The company has a market capitalization of $23.70 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 1.98 and a beta of 1.34. The business’s 50 day moving average price is $375.55 and its two-hundred day moving average price is $364.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.57 and a current ratio of 2.13.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings data on Thursday, May 21st. The textile maker reported $2.80 EPS for the quarter, topping the consensus estimate of $2.52 by $0.28. Ralph Lauren had a net margin of 11.60% and a return on equity of 38.17%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the firm posted $2.27 earnings per share. Ralph Lauren’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, analysts forecast that Ralph Lauren Corporation will post 18.33 earnings per share for the current fiscal year.

Ralph Lauren Increases Dividend

The business also recently announced 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. The ex-dividend date is Friday, June 26th. This represents a $4.00 annualized dividend and a yield of 1.0%. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.91. Ralph Lauren’s dividend payout ratio (DPR) is currently 26.47%.

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.