Tabor Asset Management LP Reduces Position in Ralph Lauren Corporation $RL

Tabor Asset Management LP decreased its holdings in Ralph Lauren Corporation (NYSE:RL) by 12.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,251 shares of the textile maker’s stock after selling 1,409 shares during the period. Ralph Lauren makes up approximately 1.9% of Tabor Asset Management LP’s investment portfolio, making the stock its 21st largest position. Tabor Asset Management LP’s holdings in Ralph Lauren were worth $2,812,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. increased its holdings in shares of Ralph Lauren by 22.3% in the first quarter. Invesco Ltd. now owns 1,512,903 shares of the textile maker’s stock valued at $333,958,000 after purchasing an additional 275,391 shares during the last quarter. AQR Capital Management LLC boosted its stake in Ralph Lauren by 55.7% during the first quarter. AQR Capital Management LLC now owns 1,157,867 shares of the textile maker’s stock worth $245,468,000 after buying an additional 414,275 shares during the last quarter. Jennison Associates LLC grew its holdings in Ralph Lauren by 16.5% in the 1st quarter. Jennison Associates LLC now owns 565,687 shares of the textile maker’s stock valued at $124,870,000 after buying an additional 79,934 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Ralph Lauren by 118.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 388,138 shares of the textile maker’s stock worth $106,458,000 after acquiring an additional 210,343 shares during the last quarter. Finally, Truist Financial Corp increased its stake in shares of Ralph Lauren by 7.0% in the 2nd quarter. Truist Financial Corp now owns 322,020 shares of the textile maker’s stock worth $88,324,000 after acquiring an additional 21,183 shares during the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Ralph Lauren Price Performance

Shares of RL opened at $324.98 on Friday. The firm has a 50-day simple moving average of $318.27 and a two-hundred day simple moving average of $289.90. The stock has a market cap of $19.69 billion, a PE ratio of 25.96, a P/E/G ratio of 1.63 and a beta of 1.61. Ralph Lauren Corporation has a 1-year low of $176.61 and a 1-year high of $341.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.84 and a quick ratio of 1.30.

Ralph Lauren (NYSE:RL) last posted its quarterly earnings data on Thursday, November 6th. The textile maker reported $3.79 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $0.34. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the company posted $2.54 EPS. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, analysts forecast that Ralph Lauren Corporation will post 12.01 EPS for the current year.

Ralph Lauren Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were given a dividend of $0.9125 per share. This represents a $3.65 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, September 26th. Ralph Lauren’s dividend payout ratio (DPR) is currently 29.15%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RL shares. Needham & Company LLC boosted their price target on shares of Ralph Lauren from $335.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Jefferies Financial Group lifted their target price on shares of Ralph Lauren from $365.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Cfra Research raised shares of Ralph Lauren from a “moderate sell” rating to a “hold” rating in a research note on Monday, August 11th. Barclays increased their price target on shares of Ralph Lauren from $352.00 to $358.00 and gave the company an “overweight” rating in a research note on Friday. Finally, UBS Group lifted their price target on shares of Ralph Lauren from $421.00 to $435.00 and gave the company a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $347.13.

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