Gotham Asset Management LLC Sells 8,255 Shares of Ralph Lauren Corporation $RL

by · The Markets Daily

Gotham Asset Management LLC decreased its position in Ralph Lauren Corporation (NYSE:RLFree Report) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 116,516 shares of the textile maker’s stock after selling 8,255 shares during the period. Gotham Asset Management LLC’s holdings in Ralph Lauren were worth $36,535,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Invesco Ltd. boosted its stake in shares of Ralph Lauren by 9.8% in the 3rd quarter. Invesco Ltd. now owns 1,048,755 shares of the textile maker’s stock worth $328,848,000 after buying an additional 93,753 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Ralph Lauren by 1.6% during the second quarter. Geode Capital Management LLC now owns 1,014,880 shares of the textile maker’s stock valued at $277,818,000 after acquiring an additional 15,785 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Ralph Lauren by 13.2% during the second quarter. JPMorgan Chase & Co. now owns 1,007,745 shares of the textile maker’s stock worth $276,407,000 after acquiring an additional 117,494 shares during the period. Orion Porfolio Solutions LLC lifted its holdings in Ralph Lauren by 8,937.8% during the second quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock worth $264,225,000 after acquiring an additional 952,681 shares during the period. Finally, Qube Research & Technologies Ltd boosted its position in Ralph Lauren by 26.2% in the second quarter. Qube Research & Technologies Ltd now owns 843,321 shares of the textile maker’s stock worth $231,306,000 after purchasing an additional 174,847 shares during the last quarter. Institutional investors own 67.91% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on RL shares. Weiss Ratings upgraded Ralph Lauren from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft set a $422.00 price target on shares of Ralph Lauren in a report on Thursday, January 8th. Barclays increased their price target on shares of Ralph Lauren from $416.00 to $430.00 and gave the company an “overweight” rating in a research report on Friday, March 6th. Telsey Advisory Group restated an “outperform” rating and set a $435.00 price objective on shares of Ralph Lauren in a report on Thursday, February 5th. Finally, Citigroup lifted their price objective on shares of Ralph Lauren from $333.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ralph Lauren has an average rating of “Moderate Buy” and an average target price of $389.06.

Read Our Latest Stock Analysis on RL

Insider Buying and Selling at Ralph Lauren

In other news, CEO Patrice Louvet sold 47,000 shares of Ralph Lauren stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $354.22, for a total value of $16,648,340.00. Following the completion of the transaction, the chief executive officer owned 85,552 shares in the company, valued at $30,304,229.44. This trade represents a 35.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 38.34% of the stock is owned by insiders.

Ralph Lauren Stock Performance

Shares of RL opened at $330.43 on Monday. Ralph Lauren Corporation has a 1 year low of $176.61 and a 1 year high of $389.15. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.10 and a quick ratio of 1.52. The stock’s fifty day moving average price is $359.71 and its two-hundred day moving average price is $342.92. The firm has a market cap of $20.00 billion, a PE ratio of 22.49, a PEG ratio of 1.29 and a beta of 1.47.

Ralph Lauren (NYSE:RLGet Free Report) last posted its quarterly earnings results on Thursday, February 5th. The textile maker reported $6.22 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.42. Ralph Lauren had a return on equity of 37.97% and a net margin of 11.73%.The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the company earned $4.82 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities research analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be given a dividend of $0.9125 per share. This represents a $3.65 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, March 27th. Ralph Lauren’s dividend payout ratio (DPR) is currently 24.85%.

Ralph Lauren Profile

(Free Report)

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.

See Also

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