JPMorgan Chase & Co. Cuts Stock Holdings in Ralph Lauren Corporation $RL

JPMorgan Chase & Co. reduced its stake in Ralph Lauren Corporation (NYSE:RL) by 12.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 883,504 shares of the textile maker’s stock after selling 124,241 shares during the period. JPMorgan Chase & Co. owned approximately 1.46% of Ralph Lauren worth $277,034,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hantz Financial Services Inc. increased its holdings in Ralph Lauren by 1,228.6% during the 2nd quarter. Hantz Financial Services Inc. now owns 93 shares of the textile maker’s stock worth $26,000 after purchasing an additional 86 shares during the period. CYBER HORNET ETFs LLC acquired a new position in shares of Ralph Lauren during the second quarter worth about $28,000. MUFG Securities EMEA plc purchased a new stake in shares of Ralph Lauren during the second quarter worth approximately $32,000. Geneos Wealth Management Inc. raised its holdings in Ralph Lauren by 57.1% in the second quarter. Geneos Wealth Management Inc. now owns 143 shares of the textile maker’s stock valued at $39,000 after acquiring an additional 52 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Ralph Lauren by 69.7% in the second quarter. First Horizon Advisors Inc. now owns 151 shares of the textile maker’s stock worth $41,000 after acquiring an additional 62 shares during the last quarter. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. UBS Group increased their price objective on shares of Ralph Lauren from $474.00 to $477.00 and gave the company a “buy” rating in a research report on Friday, February 6th. BTIG Research increased their target price on Ralph Lauren from $400.00 to $435.00 and gave the company a “buy” rating in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $422.00 price target on Ralph Lauren in a report on Thursday, January 8th. Jefferies Financial Group dropped their price objective on Ralph Lauren from $425.00 to $410.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Ralph Lauren in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $388.19.

Ralph Lauren Stock Down 0.3%

Shares of NYSE:RL opened at $377.12 on Friday. Ralph Lauren Corporation has a 1-year low of $176.61 and a 1-year high of $380.86. 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 has a market cap of $22.83 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.47 and a beta of 1.49. The firm has a fifty day moving average price of $361.83 and a 200 day moving average price of $335.07.

Ralph Lauren (NYSE:RL) last announced its earnings results on Thursday, February 5th. The textile maker reported $6.22 EPS for the quarter, beating analysts’ consensus estimates of $5.80 by $0.42. Ralph Lauren had a net margin of 11.73% and a return on equity of 37.97%. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the company earned $4.82 earnings per share. The business’s revenue was up 12.2% compared to the same quarter last year. Sell-side analysts predict that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were paid a $0.9125 dividend. This represents a $3.65 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, December 26th. Ralph Lauren’s dividend payout ratio (DPR) is 24.85%.

Insider Activity

In other 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.