Envestnet Portfolio Solutions Inc. Sells 1,722 Shares of Ralph Lauren Corporation (NYSE:RL)

Envestnet Portfolio Solutions Inc. lowered its position in Ralph Lauren Corporation (NYSE:RL - Free Report) by 43.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,234 shares of the textile maker's stock after selling 1,722 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Ralph Lauren were worth $493,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Ralph Lauren by 3.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,120,508 shares of the textile maker's stock worth $489,795,000 after purchasing an additional 70,544 shares during the last quarter. FMR LLC increased its position in shares of 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 last quarter. Invesco Ltd. raised its stake in shares of Ralph Lauren by 30.6% during 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. JPMorgan Chase & Co. raised its stake in shares of Ralph Lauren by 8.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,079,578 shares of the textile maker's stock worth $249,361,000 after purchasing an additional 82,819 shares during the period. Finally, Boston Partners boosted its holdings in shares of Ralph Lauren by 7.1% in the 4th quarter. Boston Partners now owns 982,927 shares of the textile maker's stock worth $227,085,000 after buying an additional 65,303 shares during the last quarter. 67.91% of the stock is owned by institutional investors.

Ralph Lauren Trading Up 1.1%

Shares of RL stock traded up $2.91 on Friday, hitting $276.40. 619,933 shares of the company's stock traded hands, compared to its average volume of 815,780. The stock has a market capitalization of $16.67 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 1.98 and a beta of 1.51. The company's fifty day simple moving average is $259.24 and its 200 day simple moving average is $244.97. Ralph Lauren Corporation has a one year low of $155.96 and a one year high of $289.33. 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 released its earnings results on Thursday, May 22nd. The textile maker reported $2.27 earnings per share for the quarter, beating analysts' consensus estimates of $2.00 by $0.27. Ralph Lauren had a return on equity of 31.76% and a net margin of 10.49%. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the company posted $1.71 EPS. Ralph Lauren's revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren declared that its board has initiated 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 board of directors believes its shares are undervalued.

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 issued a dividend of $0.9125 per share. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, June 27th. This is an increase from Ralph Lauren's previous quarterly dividend of $0.83. Ralph Lauren's dividend payout ratio is currently 28.42%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RL shares. Telsey Advisory Group reiterated an "outperform" rating and issued a $315.00 price objective on shares of Ralph Lauren in a research note on Wednesday, June 18th. Barclays boosted their target price on Ralph Lauren from $260.00 to $321.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Wells Fargo & Company upped their price target on Ralph Lauren from $275.00 to $300.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Needham & Company LLC reiterated a "buy" rating and set a $310.00 price target on shares of Ralph Lauren in a research note on Friday, May 23rd. Finally, Bank of America boosted their price objective on Ralph Lauren from $318.00 to $328.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $292.88.

About Ralph Lauren

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.