Swedbank AB Sells 10,000 Shares of 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 lowered its position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 6.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,000 shares of the textile maker's stock after selling 10,000 shares during the period. Swedbank AB owned 0.25% of Ralph Lauren worth $41,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of Ralph Lauren by 93.7% during the first 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 period. Sentry Investment Management LLC increased its stake in shares of Ralph Lauren by 178.0% during the first quarter. Sentry Investment Management LLC now owns 139 shares of the textile maker's stock worth $31,000 after purchasing an additional 89 shares during the period. Banque Transatlantique SA bought a new position in shares of Ralph Lauren during the first quarter worth approximately $33,000. Brooklyn Investment Group increased its stake in Ralph Lauren by 180.3% during the 1st quarter. Brooklyn Investment Group now owns 171 shares of the textile maker's stock worth $38,000 after acquiring an additional 110 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Ralph Lauren during the 1st quarter worth $39,000. Institutional investors own 67.91% of the company's stock.

Ralph Lauren Trading Down 0.6%

RL traded down $2.00 during midday trading on Friday, hitting $311.98. 1,432,535 shares of the company were exchanged, compared to its average volume of 569,889. The firm has a market capitalization of $18.90 billion, a P/E ratio of 24.92, a P/E/G ratio of 1.58 and a beta of 1.60. Ralph Lauren Corporation has a 1-year low of $176.61 and a 1-year high of $321.77. The firm's 50 day moving average price is $298.68 and its 200-day moving average price is $263.90. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its earnings results on Thursday, August 7th. The textile maker reported $3.77 EPS 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 return on equity of 33.72% and a net margin of 10.91%.The business's quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.70 EPS. As a group, equities analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current fiscal year.

Ralph Lauren Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be given 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 dividend payout ratio (DPR) is 29.15%.

Analysts Set New Price Targets

A number of equities analysts have commented on RL shares. The Goldman Sachs Group raised their price objective on Ralph Lauren from $262.00 to $324.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Wells Fargo & Company raised their price objective on Ralph Lauren from $320.00 to $345.00 and gave the stock an "overweight" rating in a research note on Monday, September 8th. Telsey Advisory Group raised their price objective on Ralph Lauren from $335.00 to $350.00 and gave the stock an "outperform" rating in a research note on Wednesday. Needham & Company LLC raised their price objective on Ralph Lauren from $335.00 to $350.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Finally, UBS Group raised their price objective on Ralph Lauren from $385.00 to $404.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ralph Lauren has an average rating of "Moderate Buy" and a consensus 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.