Ralph Lauren Corporation $RL Position Cut by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its holdings in Ralph Lauren Corporation (NYSE:RL) by 26.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,722 shares of the textile maker’s stock after selling 24,428 shares during the quarter. Renaissance Technologies LLC’s holdings in Ralph Lauren were worth $22,952,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Blueline Advisors LLC bought a new position in Ralph Lauren during the 4th quarter valued at $27,000. JPL Wealth Management LLC bought a new position in shares of Ralph Lauren during the 3rd quarter valued at about $27,000. CYBER HORNET ETFs LLC bought a new stake in shares of Ralph Lauren in the 2nd quarter worth approximately $28,000. MUFG Securities EMEA plc acquired a new stake in Ralph Lauren during the second quarter valued at approximately $32,000. Finally, Flagship Harbor Advisors LLC bought a new stake in Ralph Lauren during the fourth quarter worth approximately $35,000. 67.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $437.00 price objective on shares of Ralph Lauren in a research report on Friday, May 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price target on shares of Ralph Lauren in a research report on Thursday, May 21st. Zacks Research cut Ralph Lauren from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Telsey Advisory Group raised their target price on shares of Ralph Lauren from $435.00 to $460.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Finally, Weiss Ratings downgraded shares of Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 15th. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Ralph Lauren presently has an average rating of “Moderate Buy” and an average price target of $430.79.

Ralph Lauren Stock Down 0.5%

RL stock opened at $375.76 on Thursday. The company has a 50 day moving average of $387.07 and a two-hundred day moving average of $367.42. The company has a market cap of $22.37 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 1.87 and a beta of 1.34. Ralph Lauren Corporation has a 12-month low of $273.04 and a 12-month high of $421.60. The company has a quick ratio of 1.57, a current ratio of 2.13 and a debt-to-equity ratio of 0.51.

Ralph Lauren (NYSE:RL) last announced its quarterly earnings data on Thursday, May 21st. The textile maker reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.28. Ralph Lauren had a return on equity of 38.17% and a net margin of 11.60%.The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the company earned $2.27 earnings per share. Ralph Lauren’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, equities analysts anticipate that Ralph Lauren Corporation will post 18.33 earnings per share for the current fiscal year.

Ralph Lauren Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were issued a $1.00 dividend. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.91. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, June 26th. Ralph Lauren’s dividend payout ratio is currently 26.47%.

Ralph Lauren Company 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.