Procyon Advisors LLC Sells 2,556 Shares of Ralph Lauren Corporation $RL

Procyon Advisors LLC lowered its stake in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 34.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,933 shares of the textile maker's stock after selling 2,556 shares during the quarter. Procyon Advisors LLC's holdings in Ralph Lauren were worth $1,353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC grew its holdings in shares of Ralph Lauren by 36.0% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 1,545 shares of the textile maker's stock worth $424,000 after purchasing an additional 409 shares in the last quarter. Westmount Partners LLC acquired a new stake in Ralph Lauren during the second quarter worth about $220,000. Czech National Bank increased its holdings in Ralph Lauren by 6.4% in the 2nd quarter. Czech National Bank now owns 9,748 shares of the textile maker's stock valued at $2,674,000 after buying an additional 588 shares during the period. Kera Capital Partners Inc. raised its position in shares of Ralph Lauren by 44.3% in the 2nd quarter. Kera Capital Partners Inc. now owns 1,631 shares of the textile maker's stock valued at $447,000 after buying an additional 501 shares in the last quarter. Finally, Private Client Services LLC bought a new stake in shares of Ralph Lauren during the 2nd quarter worth approximately $974,000. 67.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on RL. BMO Capital Markets boosted their price objective on shares of Ralph Lauren from $197.00 to $205.00 and gave the company an "underperform" rating in a research report on Friday, May 23rd. Citigroup boosted their price target on Ralph Lauren from $250.00 to $295.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Cfra Research raised Ralph Lauren from a "moderate sell" rating to a "hold" rating in a research note on Monday, August 11th. Bank of America lifted their target price on Ralph Lauren from $318.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Jefferies Financial Group increased their target price on shares of Ralph Lauren from $325.00 to $365.00 and gave the stock a "buy" rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $311.41.

Ralph Lauren Price Performance

Ralph Lauren stock opened at $306.09 on Thursday. The company has a market capitalization of $18.54 billion, a PE ratio of 24.45, a P/E/G ratio of 1.59 and a beta of 1.60. The company has a current ratio of 1.84, a quick ratio of 1.30 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $297.70 and a two-hundred day moving average price of $263.03. Ralph Lauren Corporation has a 12 month low of $176.61 and a 12 month high of $321.77.

Ralph Lauren (NYSE:RL - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The textile maker reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.27. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm posted $2.70 earnings per share. The firm's revenue was up 13.7% compared to the same quarter last year. Analysts expect that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be paid a $0.9125 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.65 annualized dividend and a dividend yield of 1.2%. Ralph Lauren's payout ratio is currently 29.15%.

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

Ralph Lauren Profile

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.

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