Sumitomo Mitsui Financial Group Inc. Reduces Stake in Ralph Lauren Co. (NYSE:RL)

Sumitomo Mitsui Financial Group Inc. lessened its stake in shares of Ralph Lauren Co. (NYSE:RL) by 14.2% during the 4th quarter, Holdings Channel reports. The fund owned 9,998 shares of the textile maker’s stock after selling 1,653 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in Ralph Lauren were worth $2,309,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in Ralph Lauren by 1,270.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 137 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 127 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Ralph Lauren by 281.1% during the 4th quarter. Jones Financial Companies Lllp now owns 202 shares of the textile maker’s stock valued at $47,000 after buying an additional 149 shares during the period. Pinpoint Asset Management Ltd raised its position in shares of Ralph Lauren by 22,500.0% during the 4th quarter. Pinpoint Asset Management Ltd now owns 226 shares of the textile maker’s stock valued at $52,000 after buying an additional 225 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in Ralph Lauren in the fourth quarter worth approximately $63,000. Finally, Versant Capital Management Inc increased its stake in Ralph Lauren by 333.3% during the fourth quarter. Versant Capital Management Inc now owns 351 shares of the textile maker’s stock worth $81,000 after acquiring an additional 270 shares during the last quarter. Institutional investors and hedge funds own 67.91% of the company’s stock.

Ralph Lauren Price Performance

Shares of NYSE RL opened at $196.53 on Monday. The stock’s 50-day moving average is $247.58 and its two-hundred day moving average is $227.75. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.76 and a quick ratio of 1.31. The company has a market cap of $12.14 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 1.73 and a beta of 1.38. Ralph Lauren Co. has a 1-year low of $155.96 and a 1-year high of $289.33.

Ralph Lauren (NYSE:RL) last issued its earnings results on Thursday, February 6th. The textile maker reported $4.82 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.36. Ralph Lauren had a net margin of 10.14% and a return on equity of 30.88%. Analysts forecast that Ralph Lauren Co. will post 12.01 EPS for the current fiscal year.

Ralph Lauren Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Friday, March 28th. Ralph Lauren’s dividend payout ratio is currently 30.11%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RL shares. Jefferies Financial Group upped their price target on Ralph Lauren from $285.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Barclays increased their target price on shares of Ralph Lauren from $257.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Guggenheim boosted their price target on shares of Ralph Lauren from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Argus raised shares of Ralph Lauren from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a research report on Tuesday, December 31st. Finally, Needham & Company LLC initiated coverage on Ralph Lauren in a research report on Wednesday, February 12th. They issued a “buy” rating and a $310.00 target price on the stock. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $284.62.

Ralph Lauren Company 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.