Bank of New York Mellon Corp Sells 134,077 Shares of Ralph Lauren Corporation $RL

Bank of New York Mellon Corp trimmed its stake in Ralph Lauren Corporation (NYSE:RL) by 34.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 250,954 shares of the textile maker’s stock after selling 134,077 shares during the period. Bank of New York Mellon Corp’s holdings in Ralph Lauren were worth $88,740,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RL. Orion Porfolio Solutions LLC lifted its stake in shares of Ralph Lauren by 8,937.8% in the 2nd 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 during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Ralph Lauren by 40.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 895,017 shares of the textile maker’s stock valued at $316,487,000 after purchasing an additional 255,511 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Ralph Lauren in the 3rd quarter valued at approximately $74,841,000. Two Sigma Investments LP lifted its stake in shares of Ralph Lauren by 137.1% during the 3rd quarter. Two Sigma Investments LP now owns 362,022 shares of the textile maker’s stock worth $113,516,000 after acquiring an additional 209,330 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Ralph Lauren during the 4th quarter worth approximately $73,511,000. 67.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RL has been the topic of several research analyst reports. Zacks Research downgraded Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Bank of America boosted their target price on shares of Ralph Lauren from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Weiss Ratings lowered shares of Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 15th. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Ralph Lauren in a research note on Thursday, May 21st. Finally, BTIG Research reissued a “buy” rating and set a $450.00 target price on shares of Ralph Lauren in a research note on Friday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $428.29.

Ralph Lauren Price Performance

Shares of RL stock opened at $373.71 on Tuesday. Ralph Lauren Corporation has a twelve month low of $258.13 and a twelve month high of $393.41. The stock has a market capitalization of $22.24 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 1.82 and a beta of 1.35. The stock has a fifty day simple moving average of $360.83 and a two-hundred day simple moving average of $358.91. The company has a current ratio of 2.13, a quick ratio of 1.57 and a debt-to-equity ratio of 0.51.

Ralph Lauren (NYSE:RL) last issued its earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, topping 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 business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the prior year, the business earned $2.27 EPS. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, analysts predict that Ralph Lauren Corporation will post 18.29 EPS for the current fiscal year.

Ralph Lauren Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a $1.00 dividend. The ex-dividend date is Friday, June 26th. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.91. Ralph Lauren’s dividend payout ratio (DPR) is currently 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.