Adell Harriman & Carpenter Inc. Sells 3,700 Shares of Ralph Lauren Corporation (NYSE:RL)

Adell Harriman & Carpenter Inc. reduced its position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 50.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,595 shares of the textile maker's stock after selling 3,700 shares during the period. Adell Harriman & Carpenter Inc.'s holdings in Ralph Lauren were worth $794,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RL. Invesco Ltd. boosted its holdings in Ralph Lauren by 30.6% during the fourth quarter. Invesco Ltd. now owns 1,237,512 shares of the textile maker's stock valued at $285,841,000 after acquiring an additional 289,924 shares during the period. GAMMA Investing LLC boosted its stake in Ralph Lauren by 24,164.5% during the 1st quarter. GAMMA Investing LLC now owns 254,292 shares of the textile maker's stock valued at $56,132,000 after purchasing an additional 253,244 shares during the period. FMR LLC boosted its stake in Ralph Lauren by 16.9% during the 4th quarter. FMR LLC now owns 1,415,473 shares of the textile maker's stock valued at $326,946,000 after purchasing an additional 205,121 shares during the period. Wedge Capital Management L L P NC acquired a new stake in Ralph Lauren in the 1st quarter valued at approximately $37,517,000. Finally, Schroder Investment Management Group increased its position in Ralph Lauren by 671.0% in the 4th quarter. Schroder Investment Management Group now owns 136,239 shares of the textile maker's stock worth $31,637,000 after buying an additional 118,569 shares during the period. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on RL. Wall Street Zen downgraded shares of Ralph Lauren from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Bank of America raised their price target on shares of Ralph Lauren from $318.00 to $328.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Wells Fargo & Company boosted their price objective on shares of Ralph Lauren from $275.00 to $300.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. BMO Capital Markets increased their target price on shares of Ralph Lauren from $197.00 to $205.00 and gave the company an "underperform" rating in a research note on Friday, May 23rd. Finally, The Goldman Sachs Group lifted their target price on Ralph Lauren from $262.00 to $324.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $292.88.

Ralph Lauren Trading Up 1.8%

Shares of Ralph Lauren stock opened at $279.52 on Friday. Ralph Lauren Corporation has a 12-month low of $155.96 and a 12-month high of $289.33. The stock has a market capitalization of $16.86 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 2.13 and a beta of 1.49. The company has a 50-day simple moving average of $265.51 and a 200 day simple moving average of $246.50. The company has a quick ratio of 1.33, a current ratio of 1.78 and a debt-to-equity ratio of 0.38.

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

Ralph Lauren declared that its Board of Directors has authorized a share buyback program on Thursday, May 22nd that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the textile maker to repurchase up to 8.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Ralph Lauren Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a dividend of $0.9125 per share. This is an increase from Ralph Lauren's previous quarterly dividend of $0.83. The ex-dividend date is Friday, June 27th. This represents a $3.65 annualized dividend and a yield of 1.31%. Ralph Lauren's dividend payout ratio is 31.44%.

Ralph Lauren 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.

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