New York Life Investment Management LLC Sells 41 Shares of Ralph Lauren Corporation $RL

New York Life Investment Management LLC cut its stake in shares of Ralph Lauren Corporation (NYSE:RL) by 0.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,480 shares of the textile maker’s stock after selling 41 shares during the quarter. New York Life Investment Management LLC’s holdings in Ralph Lauren were worth $2,600,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OMNI 360 Wealth Inc. acquired a new stake in shares of Ralph Lauren during the first quarter worth approximately $248,000. Crossmark Global Holdings Inc. increased its holdings in shares of Ralph Lauren by 13.5% during the first quarter. Crossmark Global Holdings Inc. now owns 22,590 shares of the textile maker’s stock worth $4,987,000 after buying an additional 2,684 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Ralph Lauren by 7.8% during the first quarter. Truist Financial Corp now owns 300,837 shares of the textile maker’s stock worth $66,407,000 after buying an additional 21,681 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Ralph Lauren by 31.5% during the first quarter. BNP Paribas Financial Markets now owns 171,141 shares of the textile maker’s stock worth $37,778,000 after buying an additional 40,977 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Ralph Lauren by 8.1% during the first quarter. Envestnet Asset Management Inc. now owns 237,479 shares of the textile maker’s stock worth $52,421,000 after buying an additional 17,732 shares in the last quarter. 67.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Ralph Lauren from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Cfra Research raised shares of Ralph Lauren from a “moderate sell” rating to a “hold” rating in a report on Monday, August 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ralph Lauren in a report on Wednesday, October 8th. Wells Fargo & Company raised their price objective on shares of Ralph Lauren from $320.00 to $345.00 and gave the stock an “overweight” rating in a report on Monday, September 8th. Finally, Barclays lowered their price target on shares of Ralph Lauren from $353.00 to $352.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Ralph Lauren has an average rating of “Moderate Buy” and a consensus price target of $336.12.

Ralph Lauren Stock Performance

Shares of Ralph Lauren stock opened at $319.91 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.30. The firm has a market cap of $19.38 billion, a P/E ratio of 25.55, a P/E/G ratio of 1.63 and a beta of 1.61. The firm has a 50 day simple moving average of $316.06 and a 200 day simple moving average of $286.02. Ralph Lauren Corporation has a fifty-two week low of $176.61 and a fifty-two week high of $341.90.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.27. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.65 billion. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. Ralph Lauren’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.70 earnings per share. Sell-side analysts predict that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were paid a $0.9125 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $3.65 dividend on an annualized basis and a yield of 1.1%. Ralph Lauren’s dividend payout ratio (DPR) is presently 29.15%.

About Ralph Lauren

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.