Ralph Lauren Co. (NYSE:RL) Shares Sold by Shellback Capital LP

Shellback Capital LP cut its holdings in Ralph Lauren Co. (NYSE:RL) by 40.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,000 shares of the textile maker’s stock after selling 70,000 shares during the period. Ralph Lauren accounts for about 1.3% of Shellback Capital LP’s portfolio, making the stock its 28th largest holding. Shellback Capital LP owned approximately 0.17% of Ralph Lauren worth $18,381,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. QRG Capital Management Inc. increased its holdings in Ralph Lauren by 2.8% in the 1st quarter. QRG Capital Management Inc. now owns 2,378 shares of the textile maker’s stock valued at $447,000 after purchasing an additional 65 shares during the last quarter. Oak Thistle LLC increased its position in shares of Ralph Lauren by 6.2% during the second quarter. Oak Thistle LLC now owns 1,236 shares of the textile maker’s stock worth $216,000 after acquiring an additional 72 shares during the period. Mather Group LLC. boosted its holdings in Ralph Lauren by 26.3% in the second quarter. Mather Group LLC. now owns 432 shares of the textile maker’s stock valued at $81,000 after purchasing an additional 90 shares during the period. Atomi Financial Group Inc. grew its stake in Ralph Lauren by 8.4% during the 2nd quarter. Atomi Financial Group Inc. now owns 1,156 shares of the textile maker’s stock worth $202,000 after purchasing an additional 90 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in Ralph Lauren by 6.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,752 shares of the textile maker’s stock valued at $307,000 after purchasing an additional 99 shares in the last quarter. Institutional investors and hedge funds own 67.91% of the company’s stock.

Ralph Lauren Stock Performance

Shares of RL opened at $197.73 on Friday. Ralph Lauren Co. has a 1 year low of $108.60 and a 1 year high of $197.83. The stock has a market capitalization of $12.36 billion, a P/E ratio of 20.34, a P/E/G ratio of 1.52 and a beta of 1.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.53 and a current ratio of 2.19. The company’s fifty day moving average is $171.86 and its two-hundred day moving average is $173.78.

Ralph Lauren (NYSE:RL) last issued its earnings results on Wednesday, August 7th. The textile maker reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.25. Ralph Lauren had a return on equity of 28.79% and a net margin of 10.27%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business posted $2.34 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side analysts predict that Ralph Lauren Co. will post 11.23 earnings per share for the current year.

Ralph Lauren Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Friday, September 27th. Ralph Lauren’s dividend payout ratio is currently 33.95%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RL. Wells Fargo & Company lifted their price target on shares of Ralph Lauren from $175.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Thursday. StockNews.com cut Ralph Lauren from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Argus restated a “hold” rating on shares of Ralph Lauren in a research report on Tuesday, July 2nd. Telsey Advisory Group reissued an “outperform” rating and issued a $207.00 price target on shares of Ralph Lauren in a research report on Thursday. Finally, TD Cowen raised their price objective on Ralph Lauren from $193.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $189.00.

About Ralph Lauren

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, lighting, tabletop, kitchen linens, floor coverings, and giftware; and fragrances.