Wedge Capital Management L L P NC Has $32.35 Million Stake in Ralph Lauren Corporation $RL

Wedge Capital Management L L P NC reduced its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 26.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 103,183 shares of the textile maker’s stock after selling 36,662 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Ralph Lauren were worth $32,354,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Ralph Lauren by 13.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,007,745 shares of the textile maker’s stock worth $276,407,000 after buying an additional 117,494 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Ralph Lauren by 31.5% in the 1st quarter. BNP Paribas Financial Markets now owns 171,141 shares of the textile maker’s stock valued at $37,778,000 after buying an additional 40,977 shares during the last quarter. Signal Advisors Wealth LLC bought a new position in Ralph Lauren in the 2nd quarter valued at about $309,000. Wealthfront Advisers LLC bought a new position in Ralph Lauren in the 2nd quarter valued at about $286,000. Finally, Entropy Technologies LP acquired a new stake in Ralph Lauren during the second quarter worth approximately $3,902,000. Institutional investors own 67.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on RL shares. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $435.00 target price on shares of Ralph Lauren in a research report on Wednesday. Evercore ISI boosted their price target on Ralph Lauren from $340.00 to $375.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. BTIG Research started coverage on Ralph Lauren in a research report on Tuesday, October 14th. They set a “buy” rating and a $400.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Ralph Lauren from $423.00 to $430.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Finally, Barclays boosted their target price on shares of Ralph Lauren from $352.00 to $358.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $357.44.

Ralph Lauren Stock Performance

NYSE RL opened at $362.54 on Friday. The firm’s 50 day simple moving average is $341.99 and its 200 day simple moving average is $310.87. The firm has a market capitalization of $21.98 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 1.76 and a beta of 1.52. The company has a current ratio of 2.04, a quick ratio of 1.35 and a debt-to-equity ratio of 0.57. Ralph Lauren Corporation has a 1 year low of $176.61 and a 1 year high of $380.00.

Ralph Lauren (NYSE:RL) last issued its earnings results on Thursday, November 6th. The textile maker reported $3.79 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $0.34. Ralph Lauren had a return on equity of 36.18% and a net margin of 11.28%.The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the business posted $2.54 EPS. The company’s revenue was up 16.5% compared to the same quarter last year. As a group, research analysts expect that Ralph Lauren Corporation will post 12.01 earnings per share for the current fiscal year.

Ralph Lauren Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 26th will be given a $0.9125 dividend. The ex-dividend date is Friday, December 26th. This represents a $3.65 dividend on an annualized basis and a yield of 1.0%. Ralph Lauren’s dividend payout ratio (DPR) is currently 26.98%.

Ralph Lauren Company Profile

Ralph Lauren Corporation (NYSE: RL) is a global designer, marketer and distributor of premium lifestyle products under the Ralph Lauren name and a portfolio of related brands. The company, founded by Ralph Lauren in 1967 and headquartered in New York City, has grown from a single line of men’s neckties into a global lifestyle business that spans apparel, accessories and home goods.

Ralph Lauren’s product assortment includes menswear, womenswear and childrenswear along with footwear, leather goods, eyewear, fragrances and home furnishings.