Cookson Peirce & Co. Inc. Sells 2,340 Shares of Ralph Lauren Corporation $RL

Cookson Peirce & Co. Inc. cut its holdings in shares of Ralph Lauren Corporation (NYSE:RL) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,969 shares of the textile maker’s stock after selling 2,340 shares during the quarter. Ralph Lauren accounts for 1.8% of Cookson Peirce & Co. Inc.’s holdings, making the stock its 17th largest position. Cookson Peirce & Co. Inc.’s holdings in Ralph Lauren were worth $40,036,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. OMNI 360 Wealth Inc. acquired a new stake in Ralph Lauren in the first quarter valued at approximately $248,000. Crossmark Global Holdings Inc. boosted its position in Ralph Lauren by 13.5% during the first quarter. Crossmark Global Holdings Inc. now owns 22,590 shares of the textile maker’s stock valued at $4,987,000 after acquiring an additional 2,684 shares during the last quarter. Truist Financial Corp lifted its stake in shares of Ralph Lauren by 7.8% in the 1st quarter. Truist Financial Corp now owns 300,837 shares of the textile maker’s stock valued at $66,407,000 after purchasing an additional 21,681 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of 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 purchasing an additional 40,977 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Ralph Lauren by 8.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 237,479 shares of the textile maker’s stock valued at $52,421,000 after purchasing an additional 17,732 shares during the period. 67.91% of the stock is owned by institutional investors.

Ralph Lauren Price Performance

Shares of NYSE:RL opened at $335.39 on Wednesday. The company’s fifty day moving average is $309.50 and its 200 day moving average is $278.53. Ralph Lauren Corporation has a 52 week low of $176.61 and a 52 week high of $340.61. The stock has a market cap of $20.31 billion, a PE ratio of 26.79, a PEG ratio of 1.66 and a beta of 1.61. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.58.

Ralph Lauren (NYSE:RL) last released its quarterly earnings data on Thursday, August 7th. The textile maker reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.27. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company earned $2.70 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. Research analysts anticipate that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were paid a $0.9125 dividend. 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 29.15%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC increased their price objective on shares of Ralph Lauren from $335.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. TD Cowen upped their price objective on shares of Ralph Lauren from $354.00 to $399.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. BTIG Research started coverage on shares of Ralph Lauren in a research report on Tuesday, October 14th. They issued a “buy” rating and a $400.00 price objective for the company. Zacks Research raised shares of Ralph Lauren to a “strong-buy” rating in a research report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ralph Lauren from $423.00 to $430.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Ralph Lauren currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.94.

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.