Absher Wealth Management LLC Decreases Stock Holdings in Ralph Lauren Corporation (NYSE:RL)

Absher Wealth Management LLC cut its holdings in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 23.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,509 shares of the textile maker's stock after selling 33,006 shares during the period. Ralph Lauren comprises approximately 3.1% of Absher Wealth Management LLC's investment portfolio, making the stock its 21st biggest holding. Absher Wealth Management LLC owned approximately 0.17% of Ralph Lauren worth $23,511,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in Ralph Lauren by 30.6% in the 4th quarter. Invesco Ltd. now owns 1,237,512 shares of the textile maker's stock worth $285,841,000 after purchasing an additional 289,924 shares during the period. GAMMA Investing LLC raised its holdings in Ralph Lauren by 24,164.5% in the 1st quarter. GAMMA Investing LLC now owns 254,292 shares of the textile maker's stock worth $56,132,000 after purchasing an additional 253,244 shares during the period. FMR LLC raised its holdings in Ralph Lauren by 16.9% in the 4th quarter. FMR LLC now owns 1,415,473 shares of the textile maker's stock worth $326,946,000 after purchasing an additional 205,121 shares during the period. Wedge Capital Management L L P NC acquired a new position in Ralph Lauren in the 1st quarter worth about $37,517,000. Finally, Schroder Investment Management Group raised its position in shares of Ralph Lauren by 671.0% during the 4th quarter. Schroder Investment Management Group now owns 136,239 shares of the textile maker's stock worth $31,637,000 after purchasing an additional 118,569 shares during the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Ralph Lauren Trading Down 1.5%

Shares of Ralph Lauren stock traded down $4.03 during trading hours on Friday, hitting $263.78. The company's stock had a trading volume of 1,202,500 shares, compared to its average volume of 818,676. Ralph Lauren Corporation has a twelve month low of $155.96 and a twelve month high of $289.33. The firm has a fifty day moving average of $252.24 and a 200-day moving average of $243.42. The stock has a market cap of $15.91 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 1.90 and a beta of 1.51. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.33 and a current ratio of 1.78.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The textile maker reported $2.27 EPS for the quarter, beating the consensus estimate of $2.00 by $0.27. Ralph Lauren had a return on equity of 31.76% and a net margin of 10.49%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the company posted $1.71 EPS. The company's quarterly revenue was up 8.3% on a year-over-year basis. Research analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren declared that its Board of Directors has approved a stock buyback plan on Thursday, May 22nd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the textile maker to reacquire up to 8.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Ralph Lauren Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a $0.9125 dividend. This represents a $3.65 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, June 27th. This is an increase from Ralph Lauren's previous quarterly dividend of $0.83. Ralph Lauren's dividend payout ratio (DPR) is 28.42%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Ralph Lauren from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Cfra Research downgraded shares of Ralph Lauren from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, May 20th. Cowen restated a "buy" rating on shares of Ralph Lauren in a research report on Thursday, May 22nd. Citigroup upped their price target on shares of Ralph Lauren from $250.00 to $295.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Finally, Wells Fargo & Company upped their price target on shares of Ralph Lauren from $275.00 to $300.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ralph Lauren currently has an average rating of "Moderate Buy" and a consensus target price of $292.88.

Ralph Lauren Company Profile

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men's, women's, and children's clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.