Pictet Asset Management Holding SA Cuts Position in Ralph Lauren Corporation $RL

Pictet Asset Management Holding SA cut its holdings in Ralph Lauren Corporation (NYSE:RL) by 7.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,904 shares of the textile maker’s stock after selling 24,423 shares during the period. Pictet Asset Management Holding SA’s holdings in Ralph Lauren were worth $98,004,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blueline Advisors LLC purchased a new position in Ralph Lauren in the fourth quarter worth $27,000. JPL Wealth Management LLC purchased a new stake in shares of Ralph Lauren during the 3rd quarter valued at $27,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Ralph Lauren during the 2nd quarter valued at $28,000. Aventura Private Wealth LLC bought a new stake in shares of Ralph Lauren during the 4th quarter worth $29,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Ralph Lauren during the 2nd quarter worth $32,000. 67.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Ralph Lauren from $400.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. UBS Group lifted their price objective on shares of Ralph Lauren from $480.00 to $511.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $437.00 target price on shares of Ralph Lauren in a research note on Friday, May 22nd. Barclays increased their target price on shares of Ralph Lauren from $430.00 to $439.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Finally, Telsey Advisory Group lifted their price target on shares of Ralph Lauren from $435.00 to $460.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ralph Lauren presently has a consensus rating of “Moderate Buy” and a consensus price target of $430.07.

Ralph Lauren Trading Up 0.1%

Shares of Ralph Lauren stock opened at $411.69 on Monday. The stock has a market capitalization of $24.50 billion, a P/E ratio of 27.25, a P/E/G ratio of 2.04 and a beta of 1.35. Ralph Lauren Corporation has a 52-week low of $266.20 and a 52-week high of $421.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.57 and a current ratio of 2.13. The stock’s 50-day simple moving average is $373.85 and its 200 day simple moving average is $363.73.

Ralph Lauren (NYSE:RL) last issued its 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. Ralph Lauren had a net margin of 11.60% and a return on equity of 38.17%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the business earned $2.27 earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, research analysts anticipate that Ralph Lauren Corporation will post 18.33 EPS for the current year.

Ralph Lauren Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be paid a $1.00 dividend. The ex-dividend date is Friday, June 26th. This represents a $4.00 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Ralph Lauren’s previous quarterly dividend of $0.91. Ralph Lauren’s dividend payout ratio (DPR) is presently 26.47%.

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.