Engineers Gate Manager LP Lowers Stock Position in Ralph Lauren Corporation $RL

Key Points

• Engineers Gate Manager LP cut its Ralph Lauren position by 59.1% in the second quarter, selling 3,819 shares and retaining 2,647 shares valued at approximately $1.06 million.
• Other major institutional investors increased their holdings, while institutional investors and hedge funds collectively owned 67.91% of Ralph Lauren’s stock.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and a $445.67 target price. Ralph Lauren also exceeded quarterly earnings and revenue estimates, reported 13.9% year-over-year revenue growth, and declared a $1.00 quarterly dividend.

Engineers Gate Manager LP lessened its position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 59.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,647 shares of the textile maker's stock after selling 3,819 shares during the quarter. Engineers Gate Manager LP's holdings in Ralph Lauren were worth $1,063,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in Ralph Lauren by 40.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 895,017 shares of the textile maker's stock worth $316,487,000 after purchasing an additional 255,511 shares in the last quarter. Norges Bank purchased a new stake in shares of Ralph Lauren in the fourth quarter valued at approximately $73,511,000. Wellington Management Group LLP raised its stake in shares of Ralph Lauren by 55.5% during the 2nd quarter. Wellington Management Group LLP now owns 476,472 shares of the textile maker's stock worth $191,261,000 after buying an additional 170,091 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Ralph Lauren by 65.7% during the 1st quarter. Bank of New York Mellon Corp now owns 415,919 shares of the textile maker's stock valued at $143,072,000 after buying an additional 164,965 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Ralph Lauren by 20.0% during the 1st quarter. First Trust Advisors LP now owns 703,637 shares of the textile maker's stock valued at $242,044,000 after buying an additional 117,412 shares in the last quarter. Institutional investors and hedge funds own 67.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Ralph Lauren from $434.00 to $452.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Barclays increased their price objective on shares of Ralph Lauren from $439.00 to $463.00 and gave the company an "overweight" rating in a report on Friday, August 7th. UBS Group lifted their target price on shares of Ralph Lauren from $511.00 to $520.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Needham & Company LLC boosted their target price on shares of Ralph Lauren from $405.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Evercore restated an "outperform" rating and set a $460.00 price target on shares of Ralph Lauren in a research report on Friday, August 7th. Sixteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Ralph Lauren has a consensus rating of "Moderate Buy" and a consensus target price of $445.67.

Ralph Lauren Price Performance

Ralph Lauren stock opened at $334.34 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $367.51 and a 200-day simple moving average of $367.56. The stock has a market cap of $19.92 billion, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 1.25 and a beta of 1.34. Ralph Lauren Corporation has a 12-month low of $299.98 and a 12-month high of $421.60.

Ralph Lauren (NYSE:RL - Get Free Report) last posted its earnings results on Thursday, August 6th. The textile maker reported $4.59 EPS for the quarter, beating the consensus estimate of $4.32 by $0.27. Ralph Lauren had a return on equity of 39.10% and a net margin of 11.76%.The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the company posted $3.77 earnings per share. Ralph Lauren's revenue for the quarter was up 13.9% compared to the same quarter last year. Equities analysts expect that Ralph Lauren Corporation will post 18.79 EPS for the current fiscal year.

Ralph Lauren Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 25th. Ralph Lauren's dividend payout ratio is currently 25.20%.

Ralph Lauren Profile

Ralph Lauren Corporation NYSE: RL is a global lifestyle company that designs, markets and distributes apparel, accessories, home furnishings and related products. Its portfolio includes the Ralph Lauren, Polo Ralph Lauren, Lauren Ralph Lauren, Ralph Lauren Purple Label, Double RL and other brand lines.

The company's products include men's, women's and children's clothing, footwear, handbags, accessories, fragrances and eyewear, as well as furniture, bedding, bath products and other home goods.

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