Comerica Bank Sells 1,608 Shares of Ralph Lauren Corporation $RL

Comerica Bank decreased its stake in shares of Ralph Lauren Corporation (NYSE:RL) by 11.4% during the 4th quarter, Holdings Channel reports. The firm owned 12,491 shares of the textile maker’s stock after selling 1,608 shares during the period. Comerica Bank’s holdings in Ralph Lauren were worth $4,417,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. JPL Wealth Management LLC bought a new position in shares of Ralph Lauren in the third quarter valued at $27,000. CYBER HORNET ETFs LLC bought a new stake in Ralph Lauren during the second quarter worth $28,000. Aventura Private Wealth LLC bought a new stake in Ralph Lauren during the fourth quarter worth $29,000. Rothschild Investment LLC lifted its stake in Ralph Lauren by 61.3% in the third quarter. Rothschild Investment LLC now owns 100 shares of the textile maker’s stock valued at $31,000 after acquiring an additional 38 shares during the last quarter. Finally, MUFG Securities EMEA plc acquired a new stake in Ralph Lauren in the second quarter valued at $32,000. Institutional investors own 67.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RL. Zacks Research downgraded shares of Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Barclays raised their price objective on Ralph Lauren from $416.00 to $430.00 and gave the company an “overweight” rating in a research report on Friday, March 6th. Weiss Ratings cut shares of Ralph Lauren from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday. UBS Group reaffirmed a “buy” rating on shares of Ralph Lauren in a report on Tuesday, March 3rd. Finally, Jefferies Financial Group decreased their target price on Ralph Lauren from $425.00 to $410.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Sixteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $399.19.

Ralph Lauren Stock Up 1.1%

RL stock opened at $362.41 on Friday. Ralph Lauren Corporation has a 52 week low of $228.05 and a 52 week high of $393.41. The business has a 50-day simple moving average of $357.85 and a 200 day simple moving average of $353.54. The company has a quick ratio of 1.52, a current ratio of 2.10 and a debt-to-equity ratio of 0.50. The company has a market cap of $21.94 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 1.27 and a beta of 1.37.

Ralph Lauren (NYSE:RL) last released its earnings results on Thursday, February 5th. The textile maker reported $6.22 EPS for the quarter, beating the consensus estimate of $5.80 by $0.42. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.30 billion. Ralph Lauren had a net margin of 11.73% and a return on equity of 37.97%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the firm earned $4.82 EPS. Sell-side analysts anticipate that Ralph Lauren Corporation will post 16.25 EPS for the current fiscal year.

Ralph Lauren Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Friday, March 27th were paid a $0.9125 dividend. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, March 27th. Ralph Lauren’s dividend payout ratio (DPR) is presently 24.85%.

Insider Buying and Selling at Ralph Lauren

In other news, CEO Patrice Louvet sold 47,000 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $354.22, for a total transaction of $16,648,340.00. Following the completion of the transaction, the chief executive officer directly owned 85,552 shares in the company, valued at approximately $30,304,229.44. This represents a 35.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 38.34% of the company’s stock.

Ralph Lauren Company 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.