Tabor Asset Management LP Sells 3,446 Shares of Ralph Lauren Corporation (NYSE:RL)

Tabor Asset Management LP lowered its stake in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 22.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,660 shares of the textile maker's stock after selling 3,446 shares during the quarter. Tabor Asset Management LP's holdings in Ralph Lauren were worth $2,574,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in RL. Kestra Private Wealth Services LLC grew its stake in shares of Ralph Lauren by 4.2% in the first quarter. Kestra Private Wealth Services LLC now owns 1,045 shares of the textile maker's stock worth $231,000 after purchasing an additional 42 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position 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 valued at $27,000 after buying an additional 59 shares during the period. Blue Trust Inc. increased its position in shares of Ralph Lauren by 17.6% during the first quarter. Blue Trust Inc. now owns 415 shares of the textile maker's stock valued at $92,000 after buying an additional 62 shares during the period. TD Private Client Wealth LLC increased its position in shares of Ralph Lauren by 19.6% during the fourth quarter. TD Private Client Wealth LLC now owns 446 shares of the textile maker's stock valued at $103,000 after buying an additional 73 shares during the period. Finally, True Wealth Design LLC boosted its stake in Ralph Lauren by 28.0% during the fourth 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. Institutional investors own 67.91% of the company's stock.

Ralph Lauren Price Performance

RL traded up $2.40 during midday trading on Monday, hitting $291.89. 17,128 shares of the company traded hands, compared to its average volume of 796,418. The company has a current ratio of 1.78, a quick ratio of 1.33 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $17.61 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 2.21 and a beta of 1.49. Ralph Lauren Corporation has a 52-week low of $155.96 and a 52-week high of $295.52. The business has a 50 day simple moving average of $276.14 and a two-hundred day simple moving average of $250.79.

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

Ralph Lauren declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 22nd that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the textile maker to buy up to 8.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Ralph Lauren Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were given a dividend of $0.9125 per share. The ex-dividend date was Friday, June 27th. This is a boost 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 1.25%. Ralph Lauren's dividend payout ratio (DPR) is currently 31.44%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Ralph Lauren from $260.00 to $321.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Jefferies Financial Group lifted their target price on shares of Ralph Lauren from $250.00 to $328.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Bank of America lifted their target price on shares of Ralph Lauren from $318.00 to $328.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Wall Street Zen downgraded shares of Ralph Lauren from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. Finally, UBS Group set a $384.00 price target on shares of Ralph Lauren and gave the stock a "buy" rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $292.88.

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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