Ralph Lauren Corporation $RL Shares Sold by Cookson Peirce & Co. Inc.

Key Points

• Cookson Peirce & Co. Inc. reduced its holdings in Ralph Lauren Corporation by 1.6% in Q2, now owning about 0.24% of the company, valued at approximately $40 million.
• Ralph Lauren reported $3.77 EPS for the last quarter, exceeding analysts' expectations, with a revenue of $1.72 billion.
• The company announced a quarterly dividend of $0.9125 per share, yielding 1.1%, and has a dividend payout ratio of 29.15%.

Cookson Peirce & Co. Inc. reduced its holdings in Ralph Lauren Corporation (NYSE:RL - Free Report) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,969 shares of the textile maker's stock after selling 2,340 shares during the quarter. Ralph Lauren makes up 1.8% of Cookson Peirce & Co. Inc.'s portfolio, making the stock its 17th biggest holding. Cookson Peirce & Co. Inc. owned approximately 0.24% of Ralph Lauren worth $40,036,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in shares of Ralph Lauren by 22.3% in the first quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker's stock valued at $333,958,000 after buying an additional 275,391 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Ralph Lauren by 55.7% during the 1st quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker's stock worth $245,468,000 after buying an additional 414,275 shares during the last quarter. Jennison Associates LLC lifted its holdings in Ralph Lauren by 16.5% during the 1st quarter. Jennison Associates LLC now owns 565,687 shares of the textile maker's stock worth $124,870,000 after buying an additional 79,934 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Ralph Lauren by 118.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 388,138 shares of the textile maker's stock worth $106,458,000 after buying an additional 210,343 shares during the last quarter. Finally, Truist Financial Corp raised its position in shares of Ralph Lauren by 7.0% during the 2nd quarter. Truist Financial Corp now owns 322,020 shares of the textile maker's stock worth $88,324,000 after purchasing an additional 21,183 shares during the period. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Ralph Lauren Stock Up 0.7%

NYSE:RL opened at $335.39 on Wednesday. The stock's fifty day moving average price is $309.50 and its two-hundred day moving average price is $278.53. Ralph Lauren Corporation has a 52-week low of $176.61 and a 52-week high of $340.61. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.84. The company has a market cap of $20.31 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 1.66 and a beta of 1.61.

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

Ralph Lauren Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were issued a dividend of $0.9125 per share. This represents a $3.65 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, September 26th. Ralph Lauren's dividend payout ratio is 29.15%.

Analyst Upgrades and Downgrades

RL has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on Ralph Lauren from $423.00 to $430.00 and gave the company an "overweight" rating in a research report on Friday, September 26th. BTIG Research assumed coverage on Ralph Lauren in a research report on Tuesday, October 14th. They set a "buy" rating and a $400.00 price target on the stock. Cowen restated a "buy" rating on shares of Ralph Lauren in a report on Tuesday, September 30th. Wall Street Zen upgraded Ralph Lauren from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Finally, Barclays decreased their target price on Ralph Lauren from $353.00 to $352.00 and set an "overweight" rating for the company in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $333.94.

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.

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