Voya Investment Management LLC Sells 10,358 Shares of Ralph Lauren Corporation $RL

Voya Investment Management LLC trimmed its position in shares of Ralph Lauren Corporation (NYSE:RL) by 22.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 34,844 shares of the textile maker’s stock after selling 10,358 shares during the quarter. Voya Investment Management LLC’s holdings in Ralph Lauren were worth $10,926,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wedmont Private Capital grew its position in Ralph Lauren by 3.1% during the third quarter. Wedmont Private Capital now owns 1,114 shares of the textile maker’s stock valued at $362,000 after acquiring an additional 34 shares during the last quarter. Bank of New Hampshire lifted its holdings in shares of Ralph Lauren by 0.4% in the 3rd quarter. Bank of New Hampshire now owns 9,483 shares of the textile maker’s stock worth $2,973,000 after acquiring an additional 41 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of Ralph Lauren by 6.3% in the 2nd quarter. Coldstream Capital Management Inc. now owns 806 shares of the textile maker’s stock valued at $221,000 after purchasing an additional 48 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Ralph Lauren by 57.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 143 shares of the textile maker’s stock valued at $39,000 after purchasing an additional 52 shares during the last quarter. Finally, Modera Wealth Management LLC raised its position in Ralph Lauren by 5.8% in the 2nd quarter. Modera Wealth Management LLC now owns 1,028 shares of the textile maker’s stock worth $282,000 after purchasing an additional 56 shares during the period. Institutional investors own 67.91% of the company’s stock.

Ralph Lauren Stock Down 1.3%

Shares of NYSE:RL opened at $362.42 on Wednesday. The stock’s 50-day moving average is $343.89 and its 200 day moving average is $312.37. The company has a market cap of $21.98 billion, a PE ratio of 26.79, a P/E/G ratio of 1.79 and a beta of 1.52. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.04 and a quick ratio of 1.35. Ralph Lauren Corporation has a 1 year low of $176.61 and a 1 year high of $380.00.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings data on Thursday, November 6th. The textile maker reported $3.79 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $0.34. Ralph Lauren had a return on equity of 36.18% and a net margin of 11.28%.The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the company earned $2.54 EPS. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. Sell-side analysts anticipate that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 26th will be issued a $0.9125 dividend. The ex-dividend date is Friday, December 26th. This represents a $3.65 annualized dividend and a yield of 1.0%. Ralph Lauren’s payout ratio is 26.98%.

Analysts Set New Price Targets

Several analysts have issued reports on RL shares. Wells Fargo & Company upped their price target on shares of Ralph Lauren from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Barclays boosted their target price on Ralph Lauren from $352.00 to $358.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Jefferies Financial Group raised their price target on Ralph Lauren from $385.00 to $425.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Cowen reaffirmed a “buy” rating on shares of Ralph Lauren in a research note on Tuesday, September 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Ralph Lauren from $423.00 to $430.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ralph Lauren presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.44.

About Ralph Lauren

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.