Cullen Capital Management LLC Reduces Stock Position in Ralph Lauren Co. (NYSE:RL)

Cullen Capital Management LLC cut its holdings in shares of Ralph Lauren Co. (NYSE:RLFree Report) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,769 shares of the textile maker’s stock after selling 448 shares during the quarter. Cullen Capital Management LLC’s holdings in Ralph Lauren were worth $1,120,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Boston Partners increased its holdings in Ralph Lauren by 67.2% during the 4th quarter. Boston Partners now owns 1,214,000 shares of the textile maker’s stock worth $175,001,000 after purchasing an additional 487,882 shares during the last quarter. Jennison Associates LLC grew its position in shares of Ralph Lauren by 71.6% in the 4th quarter. Jennison Associates LLC now owns 794,127 shares of the textile maker’s stock worth $114,513,000 after acquiring an additional 331,413 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Ralph Lauren by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 474,332 shares of the textile maker’s stock worth $68,399,000 after acquiring an additional 2,098 shares in the last quarter. Northern Trust Corp grew its position in shares of Ralph Lauren by 5.2% in the 3rd quarter. Northern Trust Corp now owns 472,046 shares of the textile maker’s stock worth $54,800,000 after acquiring an additional 23,441 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Ralph Lauren by 50.3% in the 3rd quarter. AQR Capital Management LLC now owns 163,233 shares of the textile maker’s stock worth $18,950,000 after acquiring an additional 54,646 shares in the last quarter. 67.91% of the stock is currently owned by hedge funds and other institutional investors.

Ralph Lauren Stock Performance

Shares of RL stock opened at $188.32 on Tuesday. Ralph Lauren Co. has a 1-year low of $108.60 and a 1-year high of $192.03. The company has a current ratio of 2.29, a quick ratio of 1.68 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $11.77 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 1.49 and a beta of 1.52. The stock’s fifty day simple moving average is $169.93 and its 200-day simple moving average is $161.49.

Ralph Lauren (NYSE:RLGet Free Report) last issued its quarterly earnings results on Thursday, May 23rd. The textile maker reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.06. Ralph Lauren had a return on equity of 27.90% and a net margin of 9.75%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. Ralph Lauren’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, sell-side analysts predict that Ralph Lauren Co. will post 11.08 earnings per share for the current fiscal year.

Ralph Lauren Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.825 per share. This is an increase from Ralph Lauren’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, June 28th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.75%. Ralph Lauren’s payout ratio is currently 30.86%.

Insider Buying and Selling at Ralph Lauren

In other Ralph Lauren news, COO Jane Nielsen sold 67,243 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $171.25, for a total value of $11,515,363.75. Following the transaction, the chief operating officer now owns 44,591 shares in the company, valued at $7,636,208.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 39.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on RL. Telsey Advisory Group reiterated an “outperform” rating and issued a $195.00 target price on shares of Ralph Lauren in a research report on Thursday, May 23rd. TD Cowen boosted their price objective on Ralph Lauren from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Guggenheim restated a “buy” rating and set a $200.00 price objective on shares of Ralph Lauren in a research report on Friday, May 24th. Jefferies Financial Group initiated coverage on Ralph Lauren in a research note on Tuesday, April 30th. They set a “buy” rating and a $195.00 target price on the stock. Finally, Wells Fargo & Company cut their target price on Ralph Lauren from $185.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday, May 24th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $170.50.

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About Ralph Lauren

(Free Report)

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.

See Also

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

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