Ralph Lauren Corporation $RL Stock Position Lessened by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in shares of Ralph Lauren Corporation (NYSE:RL) by 79.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,572 shares of the textile maker’s stock after selling 13,637 shares during the quarter. State of Alaska Department of Revenue’s holdings in Ralph Lauren were worth $1,268,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Continuum Advisory LLC bought a new stake in Ralph Lauren in the 2nd quarter worth $41,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Ralph Lauren by 154.9% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 130 shares of the textile maker’s stock worth $45,000 after purchasing an additional 79 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Ralph Lauren during the first quarter worth about $50,000. SHP Wealth Management purchased a new stake in shares of Ralph Lauren during the fourth quarter worth about $54,000. Finally, Parkside Financial Bank & Trust grew its stake in shares of Ralph Lauren by 27.0% in the second quarter. Parkside Financial Bank & Trust now owns 179 shares of the textile maker’s stock worth $72,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 67.91% of the company’s stock.

Ralph Lauren Price Performance

Shares of NYSE RL opened at $378.26 on Wednesday. Ralph Lauren Corporation has a 1 year low of $306.55 and a 1 year high of $421.60. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.04 and a quick ratio of 1.42. The company’s 50-day moving average is $359.60 and its 200 day moving average is $371.16. The stock has a market capitalization of $22.54 billion, a P/E ratio of 23.84, a P/E/G ratio of 1.43 and a beta of 1.34.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings data on Thursday, August 6th. The textile maker reported $4.59 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.27. Ralph Lauren had a return on equity of 39.10% and a net margin of 11.76%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm posted $3.77 EPS. The business’s revenue was up 13.9% on a year-over-year basis. On average, sell-side analysts expect that Ralph Lauren Corporation will post 18.79 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, September 25th. Ralph Lauren’s dividend payout ratio (DPR) is presently 25.20%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RL shares. JPMorgan Chase & Co. boosted their price target on Ralph Lauren from $434.00 to $452.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Barclays increased their price objective on Ralph Lauren from $439.00 to $463.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. UBS Group increased their price objective on Ralph Lauren from $511.00 to $520.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Evercore reissued an “outperform” rating and set a $460.00 target price on shares of Ralph Lauren in a research note on Friday, August 7th. Finally, Weiss Ratings downgraded Ralph Lauren from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, August 26th. Fifteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $449.00.

About Ralph Lauren

Ralph Lauren Corporation (NYSE: RL) is a global luxury lifestyle company founded by Ralph Lauren in 1967. The company designs, markets and distributes apparel, accessories, home furnishings, fragrances and related products under a portfolio of brands that includes Ralph Lauren, Polo Ralph Lauren, Lauren Ralph Lauren, Ralph Lauren Purple Label and Double RL.

Ralph Lauren serves men, women and children through a combination of directly operated stores, digital commerce, wholesale distribution and licensing arrangements.