Dynamic Technology Lab Private Ltd Sells 9,198 Shares of Ralph Lauren Corporation $RL

Key Points

• Dynamic Technology Lab Private Ltd reduced its stake in Ralph Lauren Corporation by 61.2%, holding 5,826 shares valued at approximately $1.3 million after selling 9,198 shares in the first quarter.
• Several hedge funds increased their positions in Ralph Lauren, including AQR Capital Management which raised its stake by 55.7% and GAMMA Investing LLC which saw a remarkable increase of 24,164.5%.
• Ralph Lauren reported earnings of $3.77 per share, exceeding expectations, with revenue up 13.7% year-over-year and announced a significant stock buyback plan allowing for the repurchase of up to $1.5 billion in shares.

Dynamic Technology Lab Private Ltd reduced its position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 61.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,826 shares of the textile maker's stock after selling 9,198 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Ralph Lauren were worth $1,286,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Kestra Private Wealth Services LLC raised its position in Ralph Lauren by 4.2% during the first quarter. Kestra Private Wealth Services LLC now owns 1,045 shares of the textile maker's stock valued at $231,000 after purchasing an additional 42 shares in the last quarter. Baader Bank Aktiengesellschaft raised its position in Ralph Lauren by 3.4% during the first quarter. Baader Bank Aktiengesellschaft now owns 1,367 shares of the textile maker's stock valued at $300,000 after purchasing an additional 45 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Ralph Lauren by 93.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker's stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Blue Trust Inc. raised its position in Ralph Lauren by 17.6% during the first quarter. Blue Trust Inc. now owns 415 shares of the textile maker's stock valued at $92,000 after purchasing an additional 62 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Ralph Lauren by 25.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 329 shares of the textile maker's stock valued at $73,000 after purchasing an additional 67 shares in the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on RL. Citigroup boosted their price objective on shares of Ralph Lauren from $250.00 to $295.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Cowen restated a "buy" rating on shares of Ralph Lauren in a research report on Thursday, May 22nd. Evercore ISI upped their price target on shares of Ralph Lauren from $320.00 to $335.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Jefferies Financial Group reiterated a "buy" rating on shares of Ralph Lauren in a report on Wednesday, August 27th. Finally, Barclays reiterated an "overweight" rating and set a $360.00 price target (up from $321.00) on shares of Ralph Lauren in a report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $308.76.

Ralph Lauren Trading Down 0.4%

NYSE RL traded down $1.12 on Friday, reaching $315.23. The company had a trading volume of 518,095 shares, compared to its average volume of 561,186. The firm has a market cap of $19.09 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 1.60 and a beta of 1.60. Ralph Lauren Corporation has a fifty-two week low of $176.61 and a fifty-two week high of $321.77. The business has a 50 day moving average of $296.18 and a two-hundred day moving average of $262.12. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.30.

Ralph Lauren (NYSE:RL - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, beating analysts' consensus estimates of $3.50 by $0.27. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.65 billion. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.Ralph Lauren's quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.70 earnings per share. Analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be issued a $0.9125 dividend. This represents a $3.65 dividend on an annualized basis and a yield of 1.2%. Ralph Lauren's payout ratio is 29.15%.

Ralph Lauren announced that its board has authorized a share buyback plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

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.