Lazard Asset Management LLC Sells 12,631 Shares of Ralph Lauren Corporation $RL

Key Points

• Lazard Asset Management cut its Ralph Lauren stake by 56.3% in the first quarter, selling 12,631 shares and retaining 9,818 shares valued at approximately $3.38 million. Institutional investors collectively own 67.91% of the company.
• Analysts remain broadly optimistic, with 15 Buy ratings and three Hold ratings. Ralph Lauren has a “Moderate Buy” consensus rating and an average price target of $430.79.
• Ralph Lauren reported stronger-than-expected quarterly results, with earnings of $2.80 per share and revenue of $1.98 billion, up 16.6% year over year. The company also raised its quarterly dividend to $1.00 per share, or $4.00 annually.

Lazard Asset Management LLC reduced its stake in Ralph Lauren Corporation (NYSE:RL - Free Report) by 56.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,818 shares of the textile maker's stock after selling 12,631 shares during the period. Lazard Asset Management LLC's holdings in Ralph Lauren were worth $3,377,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. M&T Bank Corp increased its stake in Ralph Lauren by 6,216.7% in the 4th quarter. M&T Bank Corp now owns 73,337 shares of the textile maker's stock worth $25,933,000 after acquiring an additional 72,176 shares during the last quarter. Vest Financial LLC boosted its position in shares of Ralph Lauren by 177.9% during the 4th quarter. Vest Financial LLC now owns 54,701 shares of the textile maker's stock valued at $19,343,000 after acquiring an additional 35,016 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Ralph Lauren by 28.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 41,688 shares of the textile maker's stock valued at $14,741,000 after purchasing an additional 9,133 shares in the last quarter. Asset Management One Co. Ltd. increased its position in Ralph Lauren by 106.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 63,180 shares of the textile maker's stock worth $22,552,000 after purchasing an additional 32,622 shares during the last quarter. Finally, Truist Financial Corp increased its position in Ralph Lauren by 8.1% in the fourth quarter. Truist Financial Corp now owns 371,086 shares of the textile maker's stock worth $131,220,000 after purchasing an additional 27,848 shares during the last quarter. Institutional investors own 67.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on RL. Wall Street Zen upgraded shares of Ralph Lauren from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. BTIG Research reaffirmed a "buy" rating and issued a $450.00 price target on shares of Ralph Lauren in a report on Friday, May 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price target on shares of Ralph Lauren in a research report on Thursday, May 21st. Zacks Research cut Ralph Lauren from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. Finally, UBS Group raised their price objective on Ralph Lauren from $480.00 to $511.00 and gave the company a "buy" rating in a research note on Friday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $430.79.

Ralph Lauren Stock Down 1.3%

Shares of NYSE:RL opened at $380.85 on Friday. The firm has a market capitalization of $22.67 billion, a PE ratio of 25.21, a price-to-earnings-growth ratio of 1.89 and a beta of 1.34. The business has a 50 day simple moving average of $387.35 and a two-hundred day simple moving average of $367.63. Ralph Lauren Corporation has a 1 year low of $273.04 and a 1 year high of $421.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.13 and a quick ratio of 1.57.

Ralph Lauren (NYSE:RL - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The textile maker reported $2.80 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.85 billion. During the same period in the prior year, the business posted $2.27 earnings per share. The company's revenue for the quarter was up 16.6% on a year-over-year basis. On average, equities analysts predict that Ralph Lauren Corporation will post 18.33 EPS for the current year.

Ralph Lauren Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.1%. This is a positive change from Ralph Lauren's previous quarterly dividend of $0.91. The ex-dividend date was Friday, June 26th. Ralph Lauren's dividend payout ratio is 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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