Pinebridge Investments L.P. trimmed its holdings in Ralph Lauren Co. (NYSE:RL) by 99.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 361 shares of the textile maker’s stock after selling 56,187 shares during the period. Pinebridge Investments L.P.’s holdings in Ralph Lauren were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of RL. US Asset Management LLC acquired a new stake in shares of Ralph Lauren during the 3rd quarter valued at $32,000. Dark Forest Capital Management LP bought a new position in Ralph Lauren during the 2nd quarter worth $63,000. Fifth Third Bancorp raised its position in shares of Ralph Lauren by 18.2% in the 3rd quarter. Fifth Third Bancorp now owns 643 shares of the textile maker’s stock worth $71,000 after acquiring an additional 99 shares in the last quarter. NEXT Financial Group Inc boosted its stake in Ralph Lauren by 54.6% during the 3rd quarter. NEXT Financial Group Inc now owns 736 shares of the textile maker’s stock valued at $82,000 after purchasing an additional 260 shares during the last quarter. Finally, Sciencast Management LP acquired a new position in Ralph Lauren during the 3rd quarter valued at about $228,000. 63.89% of the stock is owned by hedge funds and other institutional investors.
Shares of Ralph Lauren stock opened at $114.84 on Friday. Ralph Lauren Co. has a 1-year low of $99.92 and a 1-year high of $142.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.05 and a quick ratio of 1.64. The stock has a market cap of $8.45 billion, a P/E ratio of 21.47, a P/E/G ratio of 1.05 and a beta of 1.51. The stock’s 50 day simple moving average is $119.70 and its 200-day simple moving average is $117.85.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 7th. Investors of record on Friday, December 24th were given a $0.6875 dividend. The ex-dividend date was Wednesday, December 22nd. This represents a $2.75 annualized dividend and a yield of 2.39%. Ralph Lauren’s payout ratio is 51.40%.
RL has been the topic of a number of research reports. Truist Securities assumed coverage on shares of Ralph Lauren in a report on Thursday, December 16th. They issued a “buy” rating and a $141.00 price target on the stock. Cowen boosted their target price on Ralph Lauren from $154.00 to $162.00 and gave the company an “outperform” rating in a research note on Monday, December 13th. Wells Fargo & Company lowered their price target on shares of Ralph Lauren from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, October 15th. Truist Financial started coverage on shares of Ralph Lauren in a report on Thursday, December 16th. They set a “buy” rating and a $141.00 target price for the company. Finally, The Goldman Sachs Group downgraded Ralph Lauren from a “buy” rating to a “sell” rating and cut their price target for the company from $142.00 to $110.00 in a research note on Tuesday, December 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $131.56.
Ralph Lauren Company Profile
Ralph Lauren Corp. engages in the design, marketing, and distribution of premium lifestyle products. The firm offers apparel, accessories, home furnishings, and other licensed product. It operates through the following segments: North America, Europe, and Asia. The North America segment consists of sales of Ralph Lauren branded apparel, accessories, home furnishings, and related products made through the Company’s wholesale and retail businesses in the U.S.
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