Rockefeller Capital Management L.P. Sells 35,118 Shares of Ralph Lauren Corporation $RL

Rockefeller Capital Management L.P. lowered its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 77.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,376 shares of the textile maker’s stock after selling 35,118 shares during the period. Rockefeller Capital Management L.P.’s holdings in Ralph Lauren were worth $3,669,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Corient Private Wealth LLC raised its position in Ralph Lauren by 63.6% in the 4th quarter. Corient Private Wealth LLC now owns 12,512 shares of the textile maker’s stock worth $4,427,000 after purchasing an additional 4,865 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Ralph Lauren by 11.0% in the fourth quarter. Hsbc Holdings PLC now owns 73,457 shares of the textile maker’s stock valued at $26,136,000 after purchasing an additional 7,296 shares in the last quarter. SHP Wealth Management bought a new stake in shares of Ralph Lauren in the fourth quarter worth $54,000. Reflection Asset Management acquired a new position in shares of Ralph Lauren during the 4th quarter worth about $1,013,000. Finally, DGS Capital Management LLC bought a new position in Ralph Lauren in the fourth quarter valued at approximately $205,000. Institutional investors and hedge funds own 67.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RL shares. Barclays upped their price objective on shares of Ralph Lauren from $430.00 to $439.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $437.00 price target on shares of Ralph Lauren in a research report on Friday, May 22nd. Citigroup upgraded Ralph Lauren from a “neutral” rating to a “buy” rating and upped their target price for the stock from $360.00 to $400.00 in a research note on Tuesday, March 24th. Bank of America upped their price objective on shares of Ralph Lauren from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Finally, Wells Fargo & Company boosted their price target on Ralph Lauren from $400.00 to $415.00 and gave the stock an “overweight” rating in a report 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 a consensus target price of $430.07.

Ralph Lauren Trading Up 0.4%

Shares of RL stock opened at $411.69 on Friday. The company has a market capitalization of $24.50 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 2.04 and a beta of 1.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.57 and a current ratio of 2.13. The company has a 50-day simple moving average of $373.85 and a two-hundred day simple moving average of $363.68. Ralph Lauren Corporation has a 52-week low of $266.20 and a 52-week high of $421.60.

Ralph Lauren (NYSE:RL) last issued its earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share (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 for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company posted $2.27 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. Research analysts anticipate that Ralph Lauren Corporation will post 18.33 EPS for the current fiscal year.

Ralph Lauren Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a dividend yield of 1.0%. Ralph Lauren’s payout ratio is presently 24.16%.

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.