Victory Capital Management Inc. Reduces Stock Position in Ralph Lauren Corporation $RL

Victory Capital Management Inc. trimmed its stake in Ralph Lauren Corporation (NYSE:RL) by 50.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 384,346 shares of the textile maker’s stock after selling 385,664 shares during the period. Victory Capital Management Inc. owned approximately 0.63% of Ralph Lauren worth $120,516,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in Ralph Lauren by 1.6% in the 2nd 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 period. JPMorgan Chase & Co. boosted its position in shares of Ralph Lauren by 13.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,007,745 shares of the textile maker’s stock worth $276,407,000 after buying an additional 117,494 shares in the last quarter. Orion Porfolio Solutions LLC lifted its stake in Ralph Lauren by 8,937.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker’s stock valued at $264,225,000 after buying an additional 952,681 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in Ralph Lauren by 26.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 843,321 shares of the textile maker’s stock valued at $231,306,000 after purchasing an additional 174,847 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Ralph Lauren by 5.0% during the second quarter. Ameriprise Financial Inc. now owns 756,203 shares of the textile maker’s stock worth $207,417,000 after acquiring an additional 36,328 shares during the last quarter. 67.91% of the stock is owned by hedge funds and other institutional investors.

Ralph Lauren Price Performance

Shares of NYSE RL opened at $359.80 on Thursday. 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 firm has a market capitalization of $21.78 billion, a PE ratio of 24.49, a P/E/G ratio of 1.41 and a beta of 1.47. Ralph Lauren Corporation has a 1-year low of $176.61 and a 1-year high of $389.15. The business’s fifty day moving average price is $362.10 and its two-hundred day moving average price is $339.97.

Ralph Lauren (NYSE:RL) last announced its earnings results on Thursday, February 5th. The textile maker reported $6.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.80 by $0.42. The firm had revenue of $2.41 billion during 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%. Ralph Lauren’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.82 EPS. On average, research analysts expect that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were given a dividend of $0.9125 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $3.65 dividend on an annualized basis and a yield of 1.0%. Ralph Lauren’s payout ratio is presently 24.85%.

Insiders Place Their Bets

In related news, CEO Patrice Louvet sold 47,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $354.22, for a total value of $16,648,340.00. Following the completion of the sale, the chief executive officer owned 85,552 shares of the company’s stock, valued at approximately $30,304,229.44. The trade was a 35.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 38.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on RL shares. Argus upped their price objective on Ralph Lauren from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Zacks Research upgraded Ralph Lauren from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Citigroup lifted their price objective on Ralph Lauren from $333.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Telsey Advisory Group reiterated an “outperform” rating and set a $435.00 target price on shares of Ralph Lauren in a report on Thursday, February 5th. Finally, Weiss Ratings raised shares of Ralph Lauren from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $388.19.

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.