Swedbank AB Trims Stock Position in Ralph Lauren Corporation $RL

Key Points

• Swedbank AB has reduced its stake in Ralph Lauren Corporation by 6.3%, now holding 150,000 shares valued at approximately $41.14 million.
• Ralph Lauren recently reported a quarterly earnings of $3.77 per share, surpassing expectations and marking a 13.7% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.9125 per share, with a payout ratio of 29.15%, to be distributed on October 10th.

Swedbank AB reduced its stake in Ralph Lauren Corporation (NYSE:RL - Free Report) by 6.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 150,000 shares of the textile maker's stock after selling 10,000 shares during the period. Swedbank AB owned approximately 0.25% of Ralph Lauren worth $41,142,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its holdings in Ralph Lauren by 93.7% in 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 last quarter. Sentry Investment Management LLC increased its holdings in shares of Ralph Lauren by 178.0% in the 1st quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock worth $31,000 after buying an additional 89 shares during the last quarter. Banque Transatlantique SA bought a new stake in shares of Ralph Lauren in the 1st quarter worth about $33,000. Brooklyn Investment Group increased its holdings in shares of Ralph Lauren by 180.3% in the 1st quarter. Brooklyn Investment Group now owns 171 shares of the textile maker's stock worth $38,000 after buying an additional 110 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Ralph Lauren in the 1st quarter worth about $39,000. 67.91% of the stock is currently owned by institutional investors.

Ralph Lauren Price Performance

RL traded down $2.00 during midday trading on Friday, hitting $311.98. 1,432,535 shares of the company traded hands, compared to its average volume of 569,889. The business has a 50 day simple moving average of $298.68 and a two-hundred day simple moving average of $263.90. 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 company has a market capitalization of $18.90 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 1.58 and a beta of 1.60. Ralph Lauren Corporation has a 52-week low of $176.61 and a 52-week high of $321.77.

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

Ralph Lauren Announces Dividend

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

Analysts Set New Price Targets

RL has been the topic of a number of research reports. Jefferies Financial Group boosted 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. Cfra Research raised shares of Ralph Lauren from a "moderate sell" rating to a "hold" rating in a research report on Monday, August 11th. Barclays lowered their price target on shares of Ralph Lauren from $360.00 to $353.00 and set an "overweight" rating for the company in a research report on Wednesday. Wall Street Zen raised shares of Ralph Lauren from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of Ralph Lauren from $355.00 to $406.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $311.41.

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.