Ralph Lauren Corporation $RL Shares Sold by Absher Wealth Management LLC

Absher Wealth Management LLC reduced its position in Ralph Lauren Corporation (NYSE:RL) by 4.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 76,819 shares of the textile maker’s stock after selling 3,783 shares during the period. Ralph Lauren accounts for about 3.1% of Absher Wealth Management LLC’s holdings, making the stock its 18th largest holding. Absher Wealth Management LLC’s holdings in Ralph Lauren were worth $26,425,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RL. Invesco Ltd. boosted its stake in shares of Ralph Lauren by 26.2% during the fourth quarter. Invesco Ltd. now owns 1,324,018 shares of the textile maker’s stock valued at $468,186,000 after acquiring an additional 275,263 shares during the last quarter. Geode Capital Management LLC raised its position in Ralph Lauren by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 1,050,543 shares of the textile maker’s stock valued at $370,852,000 after purchasing an additional 54,686 shares during the period. Orion Porfolio Solutions LLC lifted its position in Ralph Lauren by 8,937.8% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock worth $264,225,000 after acquiring an additional 952,681 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Ralph Lauren by 11.7% in the third quarter. Qube Research & Technologies Ltd now owns 941,832 shares of the textile maker’s stock valued at $295,321,000 after purchasing an additional 98,511 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Ralph Lauren by 40.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 895,017 shares of the textile maker’s stock worth $316,487,000 after acquiring an additional 255,511 shares in the last quarter. 67.91% of the stock is owned by hedge funds and other institutional investors.

Ralph Lauren Stock Up 0.1%

Shares of Ralph Lauren stock opened at $395.36 on Monday. The stock has a 50-day simple moving average of $377.88 and a 200-day simple moving average of $365.78. Ralph Lauren Corporation has a 52-week low of $273.04 and a 52-week high of $421.60. The firm has a market cap of $23.53 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 1.96 and a beta of 1.34. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.13 and a quick ratio of 1.57.

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

Ralph Lauren Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $4.00 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.91. Ralph Lauren’s dividend payout ratio (DPR) is presently 26.47%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RL. Weiss Ratings cut shares of Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 15th. BTIG Research restated a “buy” rating and issued a $450.00 target price on shares of Ralph Lauren in a research report on Friday, May 22nd. Wells Fargo & Company raised their target price on shares of Ralph Lauren from $400.00 to $415.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Barclays boosted their price target on shares of Ralph Lauren from $430.00 to $439.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $437.00 target price on shares of Ralph Lauren in a research report on Friday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $430.07.

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.