USA Financial Formulas Sells 1,195 Shares of Ralph Lauren Corporation $RL

Key Points

• USA Financial Formulas reduced its stake in Ralph Lauren Corporation by 27.1%, selling 1,195 shares in the 2nd quarter, leaving them with 3,213 shares valued at $881,000.
• Ralph Lauren reported $3.77 earnings per share for the last quarter, exceeding analysts' expectations, with a 13.7% year-over-year revenue increase to $1.72 billion.
• The company declared a quarterly dividend of $0.9125 per share, resulting in an annualized yield of 1.1% and an estimated payout ratio of 29.15%.

USA Financial Formulas reduced its position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 27.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,213 shares of the textile maker's stock after selling 1,195 shares during the quarter. USA Financial Formulas' holdings in Ralph Lauren were worth $881,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in Ralph Lauren by 22.3% during the 1st quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker's stock worth $333,958,000 after purchasing an additional 275,391 shares during the last quarter. AQR Capital Management LLC grew its position in shares of 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 period. Jennison Associates LLC grew its position in shares of 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 period. Truist Financial Corp grew 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 buying an additional 21,183 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Ralph Lauren by 8.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 237,479 shares of the textile maker's stock worth $52,421,000 after buying an additional 17,732 shares during the period. 67.91% of the stock is owned by institutional investors.

Ralph Lauren Price Performance

Shares of RL opened at $317.77 on Thursday. Ralph Lauren Corporation has a 52-week low of $176.61 and a 52-week high of $321.77. 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 stock has a 50 day simple moving average of $302.21 and a 200 day simple moving average of $268.38. The firm has a market capitalization of $19.25 billion, a PE ratio of 25.38, a P/E/G ratio of 1.58 and a beta of 1.61.

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

Ralph Lauren Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. TD Cowen boosted their target price on Ralph Lauren from $354.00 to $399.00 and gave the stock a "buy" rating in a research report on Tuesday. Telsey Advisory Group boosted their target price on Ralph Lauren from $335.00 to $350.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. UBS Group boosted their target price on Ralph Lauren from $385.00 to $404.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Zacks Research upgraded Ralph Lauren to a "strong-buy" rating in a research report on Tuesday, August 12th. Finally, Cfra Research upgraded Ralph Lauren from a "moderate sell" rating to a "hold" rating in a research report on Monday, August 11th. Two 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $320.53.

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.

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