Teachers Retirement System of The State of Kentucky Cuts Stake in Ralph Lauren Corporation $RL

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 23.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,735 shares of the textile maker’s stock after selling 27,060 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.14% of Ralph Lauren worth $27,510,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Ralph Lauren by 13.2% during the second quarter. JPMorgan Chase & Co. now owns 1,007,745 shares of the textile maker’s stock valued at $276,407,000 after acquiring an additional 117,494 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Ralph Lauren by 18.6% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 32,362 shares of the textile maker’s stock valued at $10,147,000 after purchasing an additional 5,075 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Ralph Lauren by 7.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 265,601 shares of the textile maker’s stock worth $83,282,000 after purchasing an additional 18,355 shares during the period. Winnow Wealth LLC purchased a new stake in shares of Ralph Lauren in the 3rd quarter worth about $899,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Ralph Lauren by 159.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 10,113 shares of the textile maker’s stock valued at $3,171,000 after purchasing an additional 6,213 shares in the last quarter. 67.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ralph Lauren

In other news, CEO Patrice Louvet sold 47,000 shares of Ralph Lauren stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $354.22, for a total value of $16,648,340.00. Following the sale, the chief executive officer directly owned 85,552 shares of the company’s stock, valued at approximately $30,304,229.44. The trade was a 35.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 38.34% of the stock is currently owned by insiders.

Ralph Lauren Trading Down 2.2%

Shares of RL stock opened at $354.46 on Tuesday. The firm has a fifty day moving average price of $362.19 and a 200-day moving average price of $339.34. Ralph Lauren Corporation has a 1 year low of $176.61 and a 1 year high of $389.15. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.10 and a quick ratio of 1.52. The company has a market cap of $21.46 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 1.41 and a beta of 1.47.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings results on Thursday, February 5th. The textile maker reported $6.22 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.42. Ralph Lauren had a net margin of 11.73% and a return on equity of 37.97%. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the business posted $4.82 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. As a group, equities analysts predict that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were issued a dividend of $0.9125 per share. This represents a $3.65 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, December 26th. Ralph Lauren’s dividend payout ratio is 24.85%.

Wall Street Analyst Weigh In

RL has been the subject of several research analyst reports. UBS Group raised their price objective on shares of Ralph Lauren from $474.00 to $477.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Citigroup lifted their price target on Ralph Lauren from $333.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Evercore set a $420.00 price objective on Ralph Lauren and gave the stock an “outperform” rating in a report on Friday, February 6th. BTIG Research boosted their target price on shares of Ralph Lauren from $400.00 to $435.00 and gave the company a “buy” rating in a report on Friday, February 6th. Finally, Barclays set a $416.00 price objective on shares of Ralph Lauren and gave the stock an “overweight” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Ralph Lauren currently has a consensus rating of “Moderate Buy” and a consensus price target of $388.19.

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.