Hsbc Holdings PLC Has $17.48 Million Stake in Ralph Lauren Corporation $RL

Hsbc Holdings PLC lowered its position in shares of Ralph Lauren Corporation (NYSE:RL) by 30.8% during the first quarter, HoldingsChannel.com reports. The fund owned 50,851 shares of the textile maker’s stock after selling 22,606 shares during the quarter. Hsbc Holdings PLC’s holdings in Ralph Lauren were worth $17,481,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in RL. Graetz Wealth LLC lifted its stake in shares of Ralph Lauren by 7.8% in the 1st quarter. Graetz Wealth LLC now owns 688 shares of the textile maker’s stock valued at $237,000 after purchasing an additional 50 shares during the period. Azzad Asset Management Inc. ADV grew its stake in Ralph Lauren by 66.5% during the first quarter. Azzad Asset Management Inc. ADV now owns 3,731 shares of the textile maker’s stock worth $1,284,000 after purchasing an additional 1,490 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Ralph Lauren by 4.6% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,684 shares of the textile maker’s stock worth $1,611,000 after purchasing an additional 207 shares in the last quarter. Resona Asset Management Co. Ltd. increased its holdings in Ralph Lauren by 14.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 528 shares of the textile maker’s stock worth $172,000 after purchasing an additional 66 shares in the last quarter. Finally, First Interstate Bank acquired a new position in Ralph Lauren in the first quarter valued at approximately $319,000. 67.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on RL shares. Citigroup upgraded Ralph Lauren from a “neutral” rating to a “buy” rating and increased their price target for the stock from $360.00 to $400.00 in a report on Tuesday, March 24th. Zacks Research downgraded shares of Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Ralph Lauren in a research note on Thursday, May 21st. Wells Fargo & Company raised their price target on shares of Ralph Lauren from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Barclays lifted their price target 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $430.79.

Ralph Lauren Trading Up 1.7%

NYSE:RL opened at $382.92 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.13 and a quick ratio of 1.57. The firm has a 50-day moving average of $381.15 and a 200-day moving average of $366.71. The company has a market cap of $22.79 billion, a PE ratio of 25.34, a PEG ratio of 1.87 and a beta of 1.34. Ralph Lauren Corporation has a one year low of $273.04 and a one year high of $421.60.

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, beating the consensus estimate 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 net margin of 11.60% and a return on equity of 38.17%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.27 EPS. As a group, equities research analysts expect that Ralph Lauren Corporation will post 18.33 EPS for the current fiscal year.

Ralph Lauren Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a $1.00 dividend. This is a boost from Ralph Lauren’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, June 26th. Ralph Lauren’s dividend payout ratio is 26.47%.

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.