Y Intercept Hong Kong Ltd Lowers Stock Position in Ralph Lauren Corporation $RL

Y Intercept Hong Kong Ltd trimmed its position in Ralph Lauren Corporation (NYSE:RL) by 93.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,484 shares of the textile maker’s stock after selling 19,680 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Ralph Lauren were worth $407,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RL. Convergence Investment Partners LLC bought a new position in shares of Ralph Lauren in the second quarter worth approximately $485,000. Bessemer Group Inc. lifted its stake in shares of Ralph Lauren by 65.8% during the 2nd quarter. Bessemer Group Inc. now owns 2,780 shares of the textile maker’s stock valued at $762,000 after buying an additional 1,103 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Ralph Lauren by 4.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 247,246 shares of the textile maker’s stock worth $67,815,000 after buying an additional 9,767 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Ralph Lauren by 2.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 18,970 shares of the textile maker’s stock worth $5,218,000 after buying an additional 461 shares during the period. Finally, Wealthfront Advisers LLC purchased a new stake in Ralph Lauren in the 2nd quarter worth $286,000. Institutional investors own 67.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Ralph Lauren in a research report on Wednesday, October 8th. UBS Group boosted their price target on Ralph Lauren from $421.00 to $435.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. upped their price target on Ralph Lauren from $423.00 to $430.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Needham & Company LLC lifted their price objective 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. Finally, Cowen reissued a “buy” rating on shares of Ralph Lauren in a report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $347.13.

Ralph Lauren Stock Performance

NYSE:RL opened at $324.98 on Friday. 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 Corporation has a 1 year low of $176.61 and a 1 year high of $341.90. The stock’s 50 day simple moving average is $318.27 and its two-hundred day simple moving average is $289.90. The company has a market cap of $19.69 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.63 and a beta of 1.61.

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

Ralph Lauren Dividend Announcement

The firm also recently announced 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 is currently 26.98%.

Ralph Lauren 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.