Lazard Asset Management LLC Lowers Holdings in Ralph Lauren Corporation $RL

Lazard Asset Management LLC lowered its position in Ralph Lauren Corporation (NYSE:RL) by 56.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,818 shares of the textile maker’s stock after selling 12,631 shares during the quarter. Lazard Asset Management LLC’s holdings in Ralph Lauren were worth $3,377,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RL. Summit Global Investments lifted its holdings in shares of Ralph Lauren by 2.0% in the 1st quarter. Summit Global Investments now owns 1,510 shares of the textile maker’s stock worth $519,000 after buying an additional 29 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Ralph Lauren by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,425 shares of the textile maker’s stock valued at $1,565,000 after buying an additional 31 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Ralph Lauren by 14.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 251 shares of the textile maker’s stock valued at $90,000 after buying an additional 31 shares during the period. Polymer Capital Management US LLC raised its holdings in shares of Ralph Lauren by 1.1% in the third quarter. Polymer Capital Management US LLC now owns 3,230 shares of the textile maker’s stock valued at $1,013,000 after acquiring an additional 34 shares in the last quarter. Finally, Vident Advisory LLC raised its holdings in shares of Ralph Lauren by 3.0% in the fourth quarter. Vident Advisory LLC now owns 1,257 shares of the textile maker’s stock valued at $445,000 after acquiring an additional 37 shares in the last quarter. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RL has been the topic of several recent research reports. BTIG Research reiterated a “buy” rating and set a $450.00 target price on shares of Ralph Lauren in a report on Friday, May 22nd. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of Ralph Lauren in a report on Thursday, May 21st. UBS Group upped their price target 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. Wall Street Zen upgraded shares of Ralph Lauren from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings lowered shares of Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 15th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $430.79.

Ralph Lauren Stock Performance

Shares of RL opened at $380.85 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.57 and a debt-to-equity ratio of 0.51. The firm has a market cap of $22.67 billion, a PE ratio of 25.21, a P/E/G ratio of 1.89 and a beta of 1.34. Ralph Lauren Corporation has a 12 month low of $273.04 and a 12 month high of $421.60. The stock has a fifty day moving average price of $387.35 and a 200-day moving average price of $367.63.

Ralph Lauren (NYSE:RL) last announced its earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.28. Ralph Lauren had a return on equity of 38.17% and a net margin of 11.60%.The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the business earned $2.27 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts predict that Ralph Lauren Corporation will post 18.33 earnings per share for the current fiscal year.

Ralph Lauren Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, June 26th. This is a positive change 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 1.1%. Ralph Lauren’s payout ratio is presently 26.47%.

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.