Hsbc Holdings PLC Has $17.48 Million Stock Holdings in Ralph Lauren Corporation $RL

Key Points

• HSBC Holdings cut its Ralph Lauren stake by 30.8% in the first quarter, but still held 50,851 shares valued at about $17.48 million.
• Ralph Lauren reported better-than-expected quarterly results, posting EPS of $2.80 versus estimates of $2.52 and revenue of $1.98 billion, up 16.6% year over year.
• The company also raised its quarterly dividend to $1.00 from $0.91, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $430.79.

Hsbc Holdings PLC trimmed its stake in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 30.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 50,851 shares of the textile maker's stock after selling 22,606 shares during the quarter. Hsbc Holdings PLC owned about 0.08% of Ralph Lauren worth $17,481,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RL. Orion Porfolio Solutions LLC lifted its position in Ralph Lauren by 8,937.8% during the second quarter. Orion Porfolio Solutions LLC now owns 963,340 shares of the textile maker's stock worth $264,225,000 after purchasing an additional 952,681 shares during the period. Invesco Ltd. increased its holdings in Ralph Lauren by 26.2% in the 4th quarter. Invesco Ltd. now owns 1,324,018 shares of the textile maker's stock valued at $468,186,000 after buying an additional 275,263 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Ralph Lauren by 40.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 895,017 shares of the textile maker's stock valued at $316,487,000 after buying an additional 255,511 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Ralph Lauren by 38.6% in the 4th quarter. AQR Capital Management LLC now owns 881,360 shares of the textile maker's stock valued at $311,658,000 after buying an additional 245,242 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Ralph Lauren by 70.5% during the 4th quarter. First Trust Advisors LP now owns 586,225 shares of the textile maker's stock worth $207,295,000 after acquiring an additional 242,386 shares during the period. 67.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings cut shares of Ralph Lauren from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, May 15th. Bank of America upped their target price on Ralph Lauren from $400.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Wells Fargo & Company raised their target price on Ralph Lauren from $415.00 to $425.00 and gave the company an "overweight" rating in a report on Tuesday. Zacks Research lowered Ralph Lauren from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. Finally, UBS Group boosted their price target on Ralph Lauren from $480.00 to $511.00 and gave the stock a "buy" rating in a report on Friday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Ralph Lauren has a consensus rating of "Moderate Buy" and an average price target of $430.79.

Ralph Lauren Stock Up 1.7%

Shares of NYSE:RL opened at $382.92 on Wednesday. The firm has a market cap of $22.79 billion, a P/E ratio of 25.34, a P/E/G ratio of 1.87 and a beta of 1.34. The company has a quick ratio of 1.57, a current ratio of 2.13 and a debt-to-equity ratio of 0.51. Ralph Lauren Corporation has a 12-month low of $273.04 and a 12-month high of $421.60. The business has a fifty day simple moving average of $381.15 and a 200 day simple moving average of $366.71.

Ralph Lauren (NYSE:RL - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The textile maker reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.28. Ralph Lauren had a return on equity of 38.17% and a net margin of 11.60%.The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the company posted $2.27 EPS. The business's revenue was up 16.6% on a year-over-year basis. Analysts predict that Ralph Lauren Corporation will post 18.33 earnings per share for the current year.

Ralph Lauren Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were issued a $1.00 dividend. The ex-dividend date was Friday, June 26th. This is a boost from Ralph Lauren's previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 1.0%. Ralph Lauren's dividend payout ratio (DPR) is currently 26.47%.

About Ralph Lauren

Ralph Lauren Corporation NYSE: RL is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men's neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren's product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.

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