Teachers Retirement System of The State of Kentucky Sells 13,300 Shares of Ralph Lauren Corporation (NYSE:RL)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,405 shares of the textile maker's stock after selling 13,300 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.18% of Ralph Lauren worth $24,371,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of Ralph Lauren by 93.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 122 shares of the textile maker's stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Sentry Investment Management LLC grew its stake in Ralph Lauren by 178.0% in the 1st quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock valued at $31,000 after buying an additional 89 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Ralph Lauren in the 1st quarter valued at $39,000. Pinpoint Asset Management Ltd grew its stake in Ralph Lauren by 22,500.0% in the 4th quarter. Pinpoint Asset Management Ltd now owns 226 shares of the textile maker's stock valued at $52,000 after buying an additional 225 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in Ralph Lauren by 74.4% in the 1st quarter. Parallel Advisors LLC now owns 272 shares of the textile maker's stock valued at $60,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 67.91% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Cowen reiterated a "buy" rating on shares of Ralph Lauren in a research note on Thursday, May 22nd. Barclays raised their target price on shares of Ralph Lauren from $260.00 to $321.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $310.00 target price on shares of Ralph Lauren in a research note on Friday, May 23rd. Cfra Research downgraded shares of Ralph Lauren from a "hold" rating to a "moderate sell" rating in a report on Tuesday, May 20th. Finally, Citigroup increased their price target on shares of Ralph Lauren from $250.00 to $295.00 and gave the company a "neutral" rating in a report 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $292.88.

Ralph Lauren Price Performance

RL stock traded down $0.19 during trading on Monday, hitting $289.30. 592,293 shares of the stock traded hands, compared to its average volume of 798,642. Ralph Lauren Corporation has a one year low of $155.96 and a one year high of $295.52. The stock has a market cap of $17.45 billion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 2.21 and a beta of 1.49. The company has a 50 day simple moving average of $276.14 and a 200 day simple moving average of $250.79. The company has a current ratio of 1.78, a quick ratio of 1.33 and a debt-to-equity ratio of 0.38.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The textile maker reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.27. Ralph Lauren had a net margin of 10.49% and a return on equity of 31.76%. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm posted $1.71 EPS. The firm's quarterly revenue was up 8.3% on a year-over-year basis. Equities analysts expect that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren declared that its Board of Directors has authorized 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 management believes its stock is undervalued.

Ralph Lauren Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid a $0.9125 dividend. The ex-dividend date of this dividend was Friday, June 27th. This is an increase from Ralph Lauren's previous quarterly dividend of $0.83. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.26%. Ralph Lauren's payout ratio is currently 31.44%.

Ralph Lauren Company 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.