Teacher Retirement System of Texas Sells 2,983 Shares of Ralph Lauren Corporation $RL

Key Points

• Teacher Retirement System of Texas cut its stake in Ralph Lauren by 10.5%, selling 2,983 shares to hold 25,500 shares worth about $9.02 million.
• CEO Patrice Louvet sold 47,000 shares at an average of $354.22 for roughly $16.65 million, reducing her ownership by 35.46% and signaling notable insider selling (insiders own 38.34%).
• Ralph Lauren beat quarterly expectations with EPS of $6.22 (vs. $5.80) and revenue of $2.41B (up 12.2%), while analysts maintain a "Moderate Buy" consensus with a $399.19 average target and the company pays a $3.65 annual dividend (1.0% yield).

Teacher Retirement System of Texas cut its position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 10.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,500 shares of the textile maker's stock after selling 2,983 shares during the period. Teacher Retirement System of Texas' holdings in Ralph Lauren were worth $9,017,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. JPL Wealth Management LLC bought a new stake in shares of Ralph Lauren during the third quarter valued at approximately $27,000. CYBER HORNET ETFs LLC bought a new stake in shares of Ralph Lauren during the second quarter valued at approximately $28,000. Aventura Private Wealth LLC bought a new stake in shares of Ralph Lauren during the fourth quarter valued at approximately $29,000. Rothschild Investment LLC increased its position in shares of Ralph Lauren by 61.3% during the third quarter. Rothschild Investment LLC now owns 100 shares of the textile maker's stock valued at $31,000 after purchasing an additional 38 shares during the period. Finally, MUFG Securities EMEA plc bought a new stake in shares of Ralph Lauren during the second quarter valued at approximately $32,000. 67.91% of the stock is currently owned by institutional investors.

Ralph Lauren Stock Performance

Shares of NYSE:RL opened at $371.51 on Friday. The business's fifty day moving average price is $358.63 and its two-hundred day moving average price is $352.30. Ralph Lauren Corporation has a fifty-two week low of $214.23 and a fifty-two week high of $393.41. The stock has a market capitalization of $22.49 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 1.30 and a beta of 1.46. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.10 and a quick ratio of 1.52.

Ralph Lauren (NYSE:RL - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The textile maker reported $6.22 earnings per share for the quarter, beating analysts' consensus estimates of $5.80 by $0.42. Ralph Lauren had a return on equity of 37.97% and a net margin of 11.73%.The firm had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.30 billion. During the same period in the prior year, the business posted $4.82 earnings per share. The business's revenue was up 12.2% compared to the same quarter last year. As a group, analysts predict that Ralph Lauren Corporation will post 16.25 EPS for the current fiscal year.

Ralph Lauren Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 27th were given a $0.9125 dividend. This represents a $3.65 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, March 27th. Ralph Lauren's dividend payout ratio is 24.85%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RL. Jefferies Financial Group lowered their price objective on Ralph Lauren from $425.00 to $410.00 and set a "buy" rating on the stock in a research report on Friday, February 6th. Zacks Research upgraded Ralph Lauren from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 9th. Deutsche Bank Aktiengesellschaft set a $422.00 price objective on Ralph Lauren in a research report on Thursday, January 8th. Bank of America boosted their price objective on Ralph Lauren from $400.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Finally, Citigroup upgraded Ralph Lauren from a "neutral" rating to a "buy" rating and upped their price target for the company from $360.00 to $400.00 in a research report on Tuesday, March 24th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $399.19.

Insider Buying and Selling

In other news, CEO Patrice Louvet sold 47,000 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $354.22, for a total transaction of $16,648,340.00. Following the sale, the chief executive officer owned 85,552 shares in the company, valued at approximately $30,304,229.44. This represents a 35.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 38.34% of the company's stock.

Ralph Lauren Profile

Ralph Lauren Corporation NYSE: RL is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men's neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren's product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.

Want to see what other hedge funds are holding RL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ralph Lauren Corporation (NYSE:RL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.