Ralph Lauren Corporation (RL) Shares Sold by State Street Corp

State Street Corp decreased its holdings in Ralph Lauren Corporation (NYSE:RL) by 4.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,423,931 shares of the textile maker’s stock after selling 124,627 shares during the quarter. State Street Corp owned about 2.97% of Ralph Lauren Corporation worth $178,882,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in RL. BlackRock Inc. raised its position in Ralph Lauren Corporation by 3,678.8% in the first quarter. BlackRock Inc. now owns 4,583,697 shares of the textile maker’s stock worth $374,123,000 after acquiring an additional 4,462,396 shares in the last quarter. Bank of New York Mellon Corp raised its position in Ralph Lauren Corporation by 378.0% in the second quarter. Bank of New York Mellon Corp now owns 4,400,915 shares of the textile maker’s stock worth $324,786,000 after acquiring an additional 3,480,135 shares in the last quarter. Vanguard Group Inc. raised its position in Ralph Lauren Corporation by 9.5% in the first quarter. Vanguard Group Inc. now owns 5,708,885 shares of the textile maker’s stock worth $465,959,000 after acquiring an additional 495,685 shares in the last quarter. Bridgewater Associates LP raised its position in Ralph Lauren Corporation by 3,703.5% in the second quarter. Bridgewater Associates LP now owns 317,058 shares of the textile maker’s stock worth $23,399,000 after acquiring an additional 308,722 shares in the last quarter. Finally, Balyasny Asset Management LLC raised its position in Ralph Lauren Corporation by 1,850.8% in the second quarter. Balyasny Asset Management LLC now owns 276,294 shares of the textile maker’s stock worth $20,390,000 after acquiring an additional 262,131 shares in the last quarter. Hedge funds and other institutional investors own 62.76% of the company’s stock.

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Several research firms have weighed in on RL. Piper Jaffray Companies reissued a “sell” rating and issued a $66.00 target price on shares of Ralph Lauren Corporation in a report on Friday, July 14th. Cowen and Company reissued a “hold” rating and issued a $80.00 target price (up previously from $78.00) on shares of Ralph Lauren Corporation in a report on Tuesday, July 18th. Buckingham Research reissued a “neutral” rating and issued a $68.00 target price on shares of Ralph Lauren Corporation in a report on Monday, July 17th. Atlantic Securities raised Ralph Lauren Corporation from an “underweight” rating to a “neutral” rating and upped their target price for the company from $68.00 to $93.00 in a report on Wednesday, August 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Ralph Lauren Corporation in a report on Tuesday, September 12th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $87.37.

Shares of Ralph Lauren Corporation (NYSE RL) traded down 0.19% during mid-day trading on Friday, reaching $91.09. The company’s stock had a trading volume of 1,300,621 shares. The company’s market capitalization is $7.40 billion. Ralph Lauren Corporation has a 52-week low of $66.06 and a 52-week high of $114.00. The firm’s 50 day moving average is $88.81 and its 200-day moving average is $79.83.

Ralph Lauren Corporation (NYSE:RL) last issued its earnings results on Tuesday, August 8th. The textile maker reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.15. Ralph Lauren Corporation had a positive return on equity of 13.80% and a negative net margin of 0.27%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the firm posted $1.06 EPS. Ralph Lauren Corporation’s quarterly revenue was down 13.2% compared to the same quarter last year. Analysts forecast that Ralph Lauren Corporation will post $5.33 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were issued a $0.50 dividend. The ex-dividend date was Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.20%. Ralph Lauren Corporation’s payout ratio is presently -869.57%.

About Ralph Lauren Corporation

Ralph Lauren Corporation is engaged in the design, marketing and distribution of lifestyle products, including apparel, accessories, home furnishings and other licensed product categories. The Company operates through three segments: Wholesale, Retail and Licensing. Wholesale business consists of sales made to department stores and specialty stores around the world.

Institutional Ownership by Quarter for Ralph Lauren Corporation (NYSE:RL)

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