Grimes & Company Inc. Sells 114 Shares of Ralph Lauren Corporation $RL

Grimes & Company Inc. trimmed its position in Ralph Lauren Corporation (NYSE:RL) by 11.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 850 shares of the textile maker’s stock after selling 114 shares during the period. Grimes & Company Inc.’s holdings in Ralph Lauren were worth $233,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RL. AQR Capital Management LLC lifted its holdings in shares of Ralph Lauren by 55.7% in the first quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker’s stock valued at $245,468,000 after purchasing an additional 414,275 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Ralph Lauren by 22.3% in the first quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker’s stock valued at $333,958,000 after purchasing an additional 275,391 shares in the last quarter. Trexquant Investment LP lifted its holdings in shares of Ralph Lauren by 509.5% in the first quarter. Trexquant Investment LP now owns 158,062 shares of the textile maker’s stock valued at $34,891,000 after purchasing an additional 132,128 shares in the last quarter. Jump Financial LLC raised its holdings in Ralph Lauren by 8,741.2% during the first quarter. Jump Financial LLC now owns 123,600 shares of the textile maker’s stock worth $27,283,000 after acquiring an additional 122,202 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Ralph Lauren by 4,206.3% during the first quarter. Panagora Asset Management Inc. now owns 116,399 shares of the textile maker’s stock valued at $25,694,000 after purchasing an additional 113,696 shares during the last quarter. 67.91% of the stock is currently owned by institutional investors.

Ralph Lauren Price Performance

NYSE:RL opened at $324.87 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58. The stock’s 50 day moving average price is $304.08 and its two-hundred day moving average price is $271.47. The firm has a market capitalization of $19.68 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 1.62 and a beta of 1.61. Ralph Lauren Corporation has a 12-month low of $176.61 and a 12-month high of $325.81.

Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Thursday, August 7th. The textile maker reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.27. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.65 billion. Ralph Lauren had a return on equity of 33.72% and a net margin of 10.91%.The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.70 earnings per share. On average, analysts anticipate that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be paid a $0.9125 dividend. The ex-dividend date is Friday, September 26th. This represents a $3.65 annualized dividend and a yield of 1.1%. Ralph Lauren’s dividend payout ratio is currently 29.15%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Cfra Research raised Ralph Lauren from a “moderate sell” rating to a “hold” rating in a research report on Monday, August 11th. Wells Fargo & Company increased their price target on Ralph Lauren from $320.00 to $345.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. TD Cowen increased their price target on Ralph Lauren from $354.00 to $399.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Jefferies Financial Group increased their price target on Ralph Lauren from $325.00 to $365.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Finally, Zacks Research raised Ralph Lauren to a “strong-buy” rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $320.53.

Ralph Lauren Profile

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men’s, women’s, and children’s clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.