Wedge Capital Management L L P NC Sells 36,662 Shares of Ralph Lauren Corporation $RL

Wedge Capital Management L L P NC trimmed its position in Ralph Lauren Corporation (NYSE:RL) by 26.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,183 shares of the textile maker’s stock after selling 36,662 shares during the period. Wedge Capital Management L L P NC owned approximately 0.17% of Ralph Lauren worth $32,354,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

RL has been the topic of several recent analyst reports. Wall Street Zen upgraded Ralph Lauren from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Jefferies Financial Group raised their target price on shares of Ralph Lauren from $385.00 to $425.00 and gave the stock a “buy” rating in a report on Friday, December 12th. TD Cowen lifted their price target on shares of Ralph Lauren from $354.00 to $399.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Telsey Advisory Group reiterated an “outperform” rating and issued a $435.00 price target on shares of Ralph Lauren in a report on Wednesday. Finally, Needham & Company LLC increased their price objective on shares of Ralph Lauren from $335.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. One equities research 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Ralph Lauren currently has an average rating of “Moderate Buy” and a consensus price target of $357.44.

Ralph Lauren Price Performance

NYSE RL opened at $362.54 on Friday. The firm’s 50 day moving average is $341.99 and its 200-day moving average is $310.87. The company has a quick ratio of 1.35, a current ratio of 2.04 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $21.98 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.76 and a beta of 1.52. Ralph Lauren Corporation has a 12-month low of $176.61 and a 12-month high of $380.00.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings results on Thursday, November 6th. The textile maker reported $3.79 EPS 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 analysts’ expectations of $1.88 billion. Ralph Lauren had a net margin of 11.28% and a return on equity of 36.18%. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.54 EPS. Equities research analysts anticipate that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 26th will be paid a dividend of $0.9125 per share. The ex-dividend date is Friday, December 26th. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.0%. Ralph Lauren’s dividend payout ratio is currently 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.