Nuveen Asset Management LLC Decreases Stock Position in Ralph Lauren Co. (NYSE:RL)

Nuveen Asset Management LLC lessened its holdings in shares of Ralph Lauren Co. (NYSE:RL - Free Report) by 0.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 114,552 shares of the textile maker's stock after selling 1,056 shares during the period. Nuveen Asset Management LLC owned 0.18% of Ralph Lauren worth $26,459,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in shares of Ralph Lauren by 1,270.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 137 shares of the textile maker's stock valued at $32,000 after purchasing an additional 127 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Ralph Lauren by 281.1% in the fourth quarter. Jones Financial Companies Lllp now owns 202 shares of the textile maker's stock valued at $47,000 after acquiring an additional 149 shares during the period. Pinpoint Asset Management Ltd grew its position in shares of Ralph Lauren by 22,500.0% during the fourth quarter. Pinpoint Asset Management Ltd now owns 226 shares of the textile maker's stock worth $52,000 after acquiring an additional 225 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Ralph Lauren in the 4th quarter valued at $63,000. Finally, Summit Securities Group LLC purchased a new stake in Ralph Lauren in the 4th quarter valued at $92,000. Hedge funds and other institutional investors own 67.91% of the company's stock.

Ralph Lauren Price Performance

Shares of NYSE:RL traded down $1.21 on Wednesday, reaching $285.01. 91,100 shares of the company were exchanged, compared to its average volume of 965,988. The company has a 50-day moving average of $230.53 and a 200-day moving average of $236.59. The company has a current ratio of 1.76, a quick ratio of 1.31 and a debt-to-equity ratio of 0.39. The firm has a market cap of $17.60 billion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 1.73 and a beta of 1.44. Ralph Lauren Co. has a 1-year low of $155.96 and a 1-year high of $289.33.

Ralph Lauren (NYSE:RL - Get Free Report) last issued its earnings results on Thursday, May 22nd. The textile maker reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.27. Ralph Lauren had a net margin of 10.14% and a return on equity of 30.88%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the prior year, the business posted $1.71 earnings per share. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts forecast that Ralph Lauren Co. will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a $0.9125 dividend. The ex-dividend date is Friday, June 27th. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.28%. This is a boost from Ralph Lauren's previous quarterly dividend of $0.83. Ralph Lauren's dividend payout ratio is currently 31.44%.

Ralph Lauren declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 22nd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the textile maker to purchase up to 8.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RL shares. Guggenheim raised their price objective on shares of Ralph Lauren from $285.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Wall Street Zen cut Ralph Lauren from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Cowen reaffirmed a "buy" rating on shares of Ralph Lauren in a research note on Thursday, May 22nd. Cfra Research downgraded Ralph Lauren from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, May 20th. Finally, Barclays upped their price target on Ralph Lauren from $260.00 to $321.00 and gave the stock an "overweight" 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 given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.