Todd Asset Management LLC Decreases Position in Ralph Lauren Corporation (NYSE:RL)

Key Points

• Todd Asset Management LLC reduced its stake in Ralph Lauren Corporation by 11.0%, now holding 107,856 shares valued at approximately $23.8 million.
• Ralph Lauren reported $3.77 earnings per share for the last quarter, exceeding estimates and achieving a 13.7% increase in revenue compared to the previous year.
• The company announced an increase in its quarterly dividend to $0.9125, reflecting a boost from the previous dividend and resulting in an annualized yield of 1.3%.

Todd Asset Management LLC decreased its position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,856 shares of the textile maker's stock after selling 13,361 shares during the period. Todd Asset Management LLC owned 0.17% of Ralph Lauren worth $23,808,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RL. Kestra Private Wealth Services LLC boosted its holdings in Ralph Lauren by 4.2% during the first quarter. Kestra Private Wealth Services LLC now owns 1,045 shares of the textile maker's stock worth $231,000 after buying an additional 42 shares in the last quarter. Baader Bank Aktiengesellschaft increased its holdings in Ralph Lauren by 3.4% in the first quarter. Baader Bank Aktiengesellschaft now owns 1,367 shares of the textile maker's stock valued at $300,000 after buying an additional 45 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position 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 valued at $27,000 after acquiring an additional 59 shares during the period. Blue Trust Inc. lifted its position in shares of Ralph Lauren by 17.6% during the 1st quarter. Blue Trust Inc. now owns 415 shares of the textile maker's stock valued at $92,000 after acquiring an additional 62 shares during the period. Finally, True Wealth Design LLC boosted its stake in shares of Ralph Lauren by 28.0% during the 4th quarter. True Wealth Design LLC now owns 347 shares of the textile maker's stock worth $80,000 after acquiring an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 67.91% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on RL. Bank of America raised their price objective on Ralph Lauren from $318.00 to $328.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Jefferies Financial Group raised their price target on Ralph Lauren from $250.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. lifted their price target on Ralph Lauren from $355.00 to $406.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. UBS Group increased their price objective on shares of Ralph Lauren from $385.00 to $404.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Wall Street Zen downgraded shares of Ralph Lauren from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $306.41.

Ralph Lauren Trading Down 3.7%

RL stock traded down $11.25 during midday trading on Thursday, hitting $290.89. The stock had a trading volume of 752,054 shares, compared to its average volume of 876,841. The company's 50-day moving average price is $283.53 and its 200 day moving average price is $257.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.30. The firm has a market cap of $17.55 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 1.51 and a beta of 1.53. Ralph Lauren Corporation has a 12-month low of $161.43 and a 12-month high of $306.34.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The textile maker reported $3.77 EPS for the quarter, beating analysts' consensus estimates of $3.50 by $0.27. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.65 billion. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%. The business's revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.70 earnings per share. On average, equities research analysts predict that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren announced that its board has initiated a stock buyback program on Thursday, May 22nd that authorizes the company to repurchase $1.50 billion in outstanding 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 a sign that the company's board believes its shares are undervalued.

Ralph Lauren Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a dividend of $0.9125 per share. This represents a $3.65 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, June 27th. This is an increase from Ralph Lauren's previous quarterly dividend of $0.83. Ralph Lauren's payout ratio is currently 29.15%.

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.