Ralph Lauren Corporation $RL Position Reduced by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its stake in shares of Ralph Lauren Corporation (NYSE:RL) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,732 shares of the textile maker’s stock after selling 3,274 shares during the period. New York State Teachers Retirement System’s holdings in Ralph Lauren were worth $12,291,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Ralph Lauren by 5.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,432 shares of the textile maker’s stock worth $758,000 after purchasing an additional 174 shares during the last quarter. Empowered Funds LLC increased its holdings in Ralph Lauren by 0.9% in the first quarter. Empowered Funds LLC now owns 12,334 shares of the textile maker’s stock valued at $2,723,000 after buying an additional 114 shares during the last quarter. Woodline Partners LP raised its stake in Ralph Lauren by 39.5% during the first quarter. Woodline Partners LP now owns 3,369 shares of the textile maker’s stock valued at $744,000 after buying an additional 954 shares in the last quarter. Focus Partners Wealth raised its stake in Ralph Lauren by 29.5% during the first quarter. Focus Partners Wealth now owns 3,812 shares of the textile maker’s stock valued at $841,000 after buying an additional 869 shares in the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in Ralph Lauren during the second quarter valued at approximately $386,000. Institutional investors own 67.91% of the company’s stock.

Ralph Lauren Stock Performance

Shares of RL stock opened at $398.18 on Monday. The company has a market cap of $23.70 billion, a P/E ratio of 26.35, a PEG ratio of 1.98 and a beta of 1.34. The business has a 50 day moving average of $375.55 and a two-hundred day moving average of $364.93. Ralph Lauren Corporation has a 52 week low of $273.04 and a 52 week high of $421.60. The company has a quick ratio of 1.57, a current ratio of 2.13 and a debt-to-equity ratio of 0.51.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.28. The business had revenue of $1.98 billion for 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 business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.27 EPS. As a group, analysts anticipate that Ralph Lauren Corporation will post 18.33 EPS for the current year.

Ralph Lauren Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be given a $1.00 dividend. This is a boost 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 of this dividend is Friday, June 26th. Ralph Lauren’s dividend payout ratio is 26.47%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Zacks Research lowered Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Wells Fargo & Company upped their price target on Ralph Lauren from $400.00 to $415.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Telsey Advisory Group raised their price objective on Ralph Lauren from $435.00 to $460.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Wall Street Zen raised shares of Ralph Lauren from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Barclays boosted their target price on shares of Ralph Lauren from $430.00 to $439.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $430.07.

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.