Ralph Lauren Corporation $RL Shares Sold by Empowered Funds LLC

Empowered Funds LLC decreased its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 24.0% during the first quarter, Holdings Channel.com reports. The fund owned 31,629 shares of the textile maker’s stock after selling 9,962 shares during the period. Empowered Funds LLC’s holdings in Ralph Lauren were worth $10,880,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RL. Blueline Advisors LLC acquired a new stake in Ralph Lauren in the 4th quarter worth approximately $27,000. JPL Wealth Management LLC purchased a new stake in Ralph Lauren during the 3rd quarter worth approximately $27,000. CYBER HORNET ETFs LLC acquired a new position in Ralph Lauren during the 2nd quarter valued at approximately $28,000. MUFG Securities EMEA plc acquired a new position in Ralph Lauren during the 2nd quarter valued at approximately $32,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Ralph Lauren in the fourth quarter worth $35,000. Institutional investors and hedge funds own 67.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wells Fargo & Company lifted their price objective on shares of Ralph Lauren from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. UBS Group upped their target price on Ralph Lauren from $480.00 to $511.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of Ralph Lauren in a research note on Thursday, May 21st. Telsey Advisory Group lifted their price target on Ralph Lauren from $435.00 to $460.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Finally, Wall Street Zen upgraded Ralph Lauren from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Ralph Lauren currently has a consensus rating of “Moderate Buy” and an average price target of $430.79.

Ralph Lauren Price Performance

Shares of RL opened at $385.83 on Friday. The business’s 50-day moving average is $387.29 and its two-hundred day moving average is $367.54. The company has a market capitalization of $22.96 billion, a P/E ratio of 25.53, a P/E/G ratio of 1.86 and a beta of 1.34. Ralph Lauren Corporation has a fifty-two week low of $273.04 and a fifty-two week high of $421.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.57 and a current ratio of 2.13.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings data 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. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Ralph Lauren had a return on equity of 38.17% and a net margin of 11.60%.The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.27 EPS. Research analysts predict that Ralph Lauren Corporation will post 18.33 earnings per share for the current year.

Ralph Lauren Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, June 26th. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a yield of 1.0%. Ralph Lauren’s dividend payout ratio is presently 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.