Wedge Capital Management L L P NC Cuts Stock Holdings in Ralph Lauren Corporation $RL

Key Points

• Wedge Capital Management has reduced its stake in Ralph Lauren Corporation by 17.7%, owning 139,845 shares valued at approximately $38.36 million as of the second quarter.
• Ralph Lauren recently reported an earnings per share (EPS) of $3.77, exceeding analysts' expectations of $3.50, with a year-over-year revenue increase of 13.7%.
• The company declared a quarterly dividend of $0.9125, which is set to be paid on October 10th, offering a dividend yield of 1.2%.

Wedge Capital Management L L P NC lowered its position in shares of Ralph Lauren Corporation (NYSE:RL - Free Report) by 17.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 139,845 shares of the textile maker's stock after selling 30,117 shares during the quarter. Wedge Capital Management L L P NC owned 0.23% of Ralph Lauren worth $38,357,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of RL. AQR Capital Management LLC lifted 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 in the last quarter. Invesco Ltd. raised its position in shares of Ralph Lauren by 22.3% during the 1st quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker's stock valued at $333,958,000 after buying an additional 275,391 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Ralph Lauren by 24,164.5% during the 1st quarter. GAMMA Investing LLC now owns 254,292 shares of the textile maker's stock valued at $56,132,000 after buying an additional 253,244 shares in the last quarter. Trexquant Investment LP raised its position in Ralph Lauren by 509.5% in the 1st quarter. Trexquant Investment LP now owns 158,062 shares of the textile maker's stock worth $34,891,000 after purchasing an additional 132,128 shares during the period. Finally, Jump Financial LLC grew its holdings in Ralph Lauren by 8,741.2% in the 1st quarter. Jump Financial LLC now owns 123,600 shares of the textile maker's stock worth $27,283,000 after acquiring an additional 122,202 shares during the last quarter. Institutional investors own 67.91% of the company's stock.

Analyst Ratings Changes

RL has been the topic of a number of recent analyst reports. Evercore ISI raised their price target on shares of Ralph Lauren from $320.00 to $335.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Telsey Advisory Group boosted their price target on shares of Ralph Lauren from $335.00 to $350.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Wall Street Zen upgraded shares of Ralph Lauren from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Wells Fargo & Company boosted their price target on shares of Ralph Lauren from $320.00 to $345.00 and gave the company an "overweight" rating in a research report on Monday, September 8th. Finally, UBS Group boosted their price target on shares of Ralph Lauren from $385.00 to $404.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ralph Lauren currently has an average rating of "Moderate Buy" and a consensus target price of $311.41.

Ralph Lauren Stock Down 1.5%

Shares of NYSE RL traded down $4.78 during midday trading on Monday, hitting $307.67. The stock had a trading volume of 512,109 shares, compared to its average volume of 841,027. The business's 50 day moving average is $298.68 and its 200-day moving average is $264.08. The company has a market cap of $18.64 billion, a P/E ratio of 24.57, 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. 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 issued its earnings results on Thursday, August 7th. The textile maker reported $3.77 earnings per share (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 net margin of 10.91% and a return on equity of 33.72%. The business's revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.70 earnings per share. As a group, analysts predict that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.9125 per share. This represents a $3.65 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 26th. Ralph Lauren's dividend payout ratio is currently 29.15%.

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.