Burney Co. Sells 10,334 Shares of Ralph Lauren Corporation $RL

Burney Co. trimmed its stake in Ralph Lauren Corporation (NYSE:RL) by 27.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,399 shares of the textile maker’s stock after selling 10,334 shares during the period. Burney Co.’s holdings in Ralph Lauren were worth $9,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Blueline Advisors LLC purchased a new position in shares of Ralph Lauren during the fourth quarter worth approximately $27,000. Aventura Private Wealth LLC purchased a new stake in shares of Ralph Lauren in the fourth quarter valued at approximately $29,000. JPL Wealth Management LLC bought a new position in Ralph Lauren in the third quarter worth approximately $27,000. Flagship Harbor Advisors LLC bought a new position in Ralph Lauren in the fourth quarter worth approximately $35,000. Finally, Elevated Capital Advisors LLC purchased a new position in Ralph Lauren during the 4th quarter worth $35,000. 67.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RL. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price on shares of Ralph Lauren in a research report on Thursday, May 21st. Weiss Ratings downgraded Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $437.00 price target on shares of Ralph Lauren in a research note on Friday, May 22nd. 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 note on Thursday, April 16th. Finally, Wall Street Zen raised shares of Ralph Lauren from a “hold” rating to a “buy” rating in a research note on Saturday. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Ralph Lauren currently has a consensus rating of “Moderate Buy” and an average target price of $430.07.

Ralph Lauren Stock Performance

Shares of NYSE:RL opened at $396.71 on Tuesday. The company has a market capitalization of $23.61 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.98 and a beta of 1.34. Ralph Lauren Corporation has a 52 week low of $273.04 and a 52 week high of $421.60. 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 50 day moving average of $376.06 and a 200 day moving average of $365.12.

Ralph Lauren (NYSE:RL) last posted its earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.28. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.85 billion. Ralph Lauren had a return on equity of 38.17% and a net margin of 11.60%.Ralph Lauren’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.27 earnings per share. On average, sell-side analysts predict that Ralph Lauren Corporation will post 18.33 earnings per share for the current fiscal year.

Ralph Lauren Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors 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. The ex-dividend date is Friday, June 26th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. Ralph Lauren’s dividend payout ratio (DPR) is currently 26.47%.

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.