Patton Fund Management Inc. Sells 14,532 Shares of Ralph Lauren Corporation $RL

Patton Fund Management Inc. cut its holdings in Ralph Lauren Corporation (NYSE:RL) by 63.6% during the first quarter, Holdings Channel.com reports. The firm owned 8,316 shares of the textile maker’s stock after selling 14,532 shares during the quarter. Patton Fund Management Inc.’s holdings in Ralph Lauren were worth $2,861,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ralph Lauren by 5.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,432 shares of the textile maker’s stock valued at $758,000 after buying an additional 174 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Ralph Lauren by 0.9% during the 1st quarter. Empowered Funds LLC now owns 12,334 shares of the textile maker’s stock worth $2,723,000 after buying an additional 114 shares during the last quarter. Woodline Partners LP boosted its stake in shares of Ralph Lauren by 39.5% during the 1st quarter. Woodline Partners LP now owns 3,369 shares of the textile maker’s stock worth $744,000 after buying an additional 954 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Ralph Lauren by 29.5% in the 1st quarter. Focus Partners Wealth now owns 3,812 shares of the textile maker’s stock valued at $841,000 after acquiring an additional 869 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new position in shares of Ralph Lauren in the 2nd quarter valued at about $386,000. Institutional investors own 67.91% of the company’s stock.

Ralph Lauren Stock Up 0.1%

Ralph Lauren stock opened at $411.69 on Monday. The firm has a market capitalization of $24.50 billion, a PE ratio of 27.25, a P/E/G ratio of 2.04 and a beta of 1.35. The company’s 50-day moving average is $373.85 and its 200-day moving average is $363.73. Ralph Lauren Corporation has a fifty-two week low of $266.20 and a fifty-two week high of $421.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.13 and a quick ratio of 1.57.

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 net margin of 11.60% and a return on equity of 38.17%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the business posted $2.27 EPS. Ralph Lauren’s revenue was up 16.6% on a year-over-year basis. Sell-side analysts anticipate that Ralph Lauren Corporation will post 18.33 earnings per share for the current year.

Ralph Lauren Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be paid a $1.00 dividend. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, June 26th. Ralph Lauren’s dividend payout ratio is currently 26.47%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group upped their target price on Ralph Lauren from $480.00 to $511.00 and gave the stock a “buy” 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 note on Friday, May 22nd. Wall Street Zen lowered Ralph Lauren from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Zacks Research lowered Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Finally, Weiss Ratings cut Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 15th. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Ralph Lauren presently has a consensus rating of “Moderate Buy” and an average target price of $430.07.

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.