Cresset Asset Management LLC Trims Stake in Ralph Lauren Co. (NYSE:RL)

Cresset Asset Management LLC reduced its position in shares of Ralph Lauren Co. (NYSE:RL) by 69.6% during the 4th quarter, HoldingsChannel reports. The firm owned 2,420 shares of the textile maker’s stock after selling 5,552 shares during the period. Cresset Asset Management LLC’s holdings in Ralph Lauren were worth $561,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RL. EverSource Wealth Advisors LLC boosted its position in Ralph Lauren by 1,270.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 137 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 127 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Ralph Lauren by 281.1% during the 4th quarter. Jones Financial Companies Lllp now owns 202 shares of the textile maker’s stock valued at $47,000 after acquiring an additional 149 shares in the last quarter. Pinpoint Asset Management Ltd boosted its position in Ralph Lauren by 22,500.0% during the 4th quarter. Pinpoint Asset Management Ltd now owns 226 shares of the textile maker’s stock valued at $52,000 after acquiring an additional 225 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new stake in Ralph Lauren during the 4th quarter valued at $63,000. Finally, Summit Securities Group LLC bought a new stake in Ralph Lauren during the 4th quarter valued at $92,000. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RL shares. Needham & Company LLC started coverage on Ralph Lauren in a research report on Wednesday, February 12th. They set a “buy” rating and a $310.00 target price on the stock. Wells Fargo & Company raised their price objective on Ralph Lauren from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Wednesday. Cowen reissued a “buy” rating on shares of Ralph Lauren in a research report on Tuesday, February 4th. StockNews.com cut Ralph Lauren from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. raised their price objective on Ralph Lauren from $285.00 to $342.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $273.71.

Ralph Lauren Stock Performance

Shares of RL opened at $268.46 on Thursday. The stock has a 50-day moving average of $220.60 and a two-hundred day moving average of $232.00. Ralph Lauren Co. has a one year low of $155.96 and a one year high of $289.33. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.31 and a current ratio of 1.76. The stock has a market cap of $16.58 billion, a P/E ratio of 24.49, a P/E/G ratio of 1.73 and a beta of 1.44.

Ralph Lauren Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $0.825 per share. The ex-dividend date was Friday, March 28th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.23%. Ralph Lauren’s payout ratio is currently 30.11%.

Ralph Lauren Company Profile

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men’s, women’s, and children’s clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.