Ralph Lauren Corporation $RL Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lowered its position in Ralph Lauren Corporation (NYSE:RL) by 67.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,164 shares of the textile maker’s stock after selling 2,458 shares during the period. Manning & Napier Advisors LLC’s holdings in Ralph Lauren were worth $365,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. WESPAC Advisors LLC boosted its position in Ralph Lauren by 3.2% during the third quarter. WESPAC Advisors LLC now owns 2,240 shares of the textile maker’s stock worth $702,000 after purchasing an additional 69 shares in the last quarter. Kera Capital Partners Inc. increased its position in shares of Ralph Lauren by 14.4% in the third quarter. Kera Capital Partners Inc. now owns 1,866 shares of the textile maker’s stock valued at $585,000 after buying an additional 235 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of Ralph Lauren during the 3rd quarter worth $257,000. TD Private Client Wealth LLC boosted its position in shares of Ralph Lauren by 5.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 733 shares of the textile maker’s stock worth $230,000 after buying an additional 39 shares in the last quarter. Finally, Quent Capital LLC purchased a new stake in shares of Ralph Lauren in the 3rd quarter worth about $115,000. 67.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on RL shares. Cowen restated a “buy” rating on shares of Ralph Lauren in a research report on Tuesday, September 30th. Guggenheim began coverage on shares of Ralph Lauren in a research note on Tuesday, December 9th. They set a “neutral” rating for the company. Barclays reaffirmed an “overweight” rating and issued a $409.00 target price on shares of Ralph Lauren in a research note on Tuesday, January 6th. Evercore ISI increased their target price on Ralph Lauren from $340.00 to $375.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Finally, BTIG Research initiated coverage on Ralph Lauren in a report on Tuesday, October 14th. They issued a “buy” rating and a $400.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $375.29.

Ralph Lauren Price Performance

Shares of NYSE:RL opened at $368.95 on Friday. The company has a market cap of $22.37 billion, a P/E ratio of 27.27, a P/E/G ratio of 1.64 and a beta of 1.49. The business has a fifty day simple moving average of $356.08 and a 200-day simple moving average of $322.68. Ralph Lauren Corporation has a 52 week low of $176.61 and a 52 week high of $380.00. The company has a quick ratio of 1.35, a current ratio of 2.04 and a debt-to-equity ratio of 0.57.

Ralph Lauren (NYSE:RL) last released its earnings results on Thursday, November 6th. The textile maker reported $3.79 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.34. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.88 billion. Ralph Lauren had a return on equity of 36.18% and a net margin of 11.28%.The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.54 earnings per share. Equities research analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were issued 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, December 26th. Ralph Lauren’s payout ratio is presently 26.98%.

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.