Bank of New York Mellon Corp Lowers Stock Position in Ralph Lauren Corporation (NYSE:RL)

Bank of New York Mellon Corp lessened its stake in Ralph Lauren Corporation (NYSE:RL - Free Report) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 398,653 shares of the textile maker's stock after selling 8,837 shares during the period. Bank of New York Mellon Corp owned 0.65% of Ralph Lauren worth $87,999,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB increased its position in shares of Ralph Lauren by 93.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker's stock worth $27,000 after acquiring an additional 59 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Ralph Lauren by 1,270.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 137 shares of the textile maker's stock worth $32,000 after purchasing an additional 127 shares during the period. Sentry Investment Management LLC raised its position in Ralph Lauren by 178.0% during the 1st quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock valued at $31,000 after purchasing an additional 89 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Ralph Lauren by 281.1% in the 4th quarter. Jones Financial Companies Lllp now owns 202 shares of the textile maker's stock worth $47,000 after buying an additional 149 shares during the period. Finally, Pinpoint Asset Management Ltd grew its position in shares of Ralph Lauren by 22,500.0% during the 4th quarter. Pinpoint Asset Management Ltd now owns 226 shares of the textile maker's stock worth $52,000 after buying an additional 225 shares in the last quarter. Institutional investors own 67.91% of the company's stock.

Ralph Lauren Stock Performance

RL stock traded down $2.87 during trading on Friday, reaching $287.00. The company had a trading volume of 526,485 shares, compared to its average volume of 648,641. The company has a market cap of $17.31 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 2.21 and a beta of 1.49. 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 Corporation has a twelve month low of $155.96 and a twelve month high of $295.52. The firm has a 50-day simple moving average of $270.64 and a 200-day simple moving average of $248.20.

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

Ralph Lauren Increases Dividend

The firm also recently announced 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. 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. This represents a $3.65 dividend on an annualized basis and a yield of 1.27%. Ralph Lauren's payout ratio is currently 31.44%.

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

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Jefferies Financial Group increased their target price on shares of Ralph Lauren from $250.00 to $328.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Cowen reiterated a "buy" rating on shares of Ralph Lauren in a research note on Thursday, May 22nd. Telsey Advisory Group reissued an "outperform" rating and issued a $315.00 price objective on shares of Ralph Lauren in a research note on Wednesday, June 18th. Wells Fargo & Company upped their target price on Ralph Lauren from $275.00 to $300.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, Citigroup lifted their price target on Ralph Lauren from $250.00 to $295.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ralph Lauren has a consensus rating of "Moderate Buy" and a consensus price target 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.